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14
September 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were still on an
uptrend. The major indices of the Indian stock markets were range-bound on
Thursday and closed with small gains over Wednesday’s close. The trends of the
major indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
Key Indian equity indices -- the BSE Sensex
and NSE Nifty50 -- traded on a flat note with marginal gains during the
mid-afternoon session on Thursday, with buying in healthcare and banking
stocks. However, profit booking in metal and oil and gas stocks capped gains.
On the NSE, there were 856 advances, 815 declines and 90 unchanged. The Total Investment & Insurance
Solutions
State-run
miner Coal India Ltd is emphasising on "quick" and "swift"
exploitation of the domestic fossil fuel reserves in order to meet future
demand and reduce imports, an official said here on Thursday. "The large
planned new coal based thermal capacity is likely to put pressure on coal
resources. Coal based power generation capacity of 125 gigawatt in 2012 is
likely to go up to more than 330-441 GW by 2040 (192 GW in FY 2017)," the
company's newly appointed interim Chairman Gopal Singh said while addressing
the shareholders in the 43rd Annual General meeting. "The demand for these
plants is likely to be first met by domestic coal, which will require quick
exploitation of our reserves," Singh said. He said coal production
increased in last three years substantially, resulting in reduction in imports
and foreign exchange savings of Rs25,900 crore. "Import dependence in oil
and gas is understandable given the poor reserves we have but import dependence
on coal particularly non coking coal is something that can be addressed by
swift exploitation of domestic coal reserves," he said. According to him,
imports contributed 25% of coal supply in 2015-16 and 23% in 2016-17. Coal India
shares closed at Rs254.95, down 0.45% on the BSE.
A
jump in food prices pushed up India's wholesale price-indexed (WPI) inflation
in August at 3.24% to nearly double that of July, official data showed on
Thursday. According to data released by the Commerce Ministry, the annual rate
of WPI inflation in July was at 1.88%, while it was at 1.09% during August
2016. "The annual rate of inflation, based on monthly WPI, stood at 3.24%
(provisional) for the month of August, 2017 (over August, 2016) as compared to
1.88% (provisional) for the previous month and 1.09% during the corresponding
month of the previous year," the Ministry said in the "Index Numbers
of Wholesale Price in India" for August. "Build up inflation rate in
the financial year so far was 1.41% compared to a build-up rate of 3.25% in the
corresponding period of the previous year." Wholesale prices had
accelerated in July to 1.88% from June's rise of 0.90% and an increase of 2.26%
reported for May. On a segment-wise basis, expenses on primary articles, which
constitute 22.62% of the WPI's total weightage, edged higher by 2.66% from an
increase of 0.46% in July 2017. However, the rise in WPI prices for primary
articles during the month under review was slower on a year-on-year (YoY)
basis, as it had risen by 4.78% in August 2016. The increase in inflation could
harden interest rates and give a bearish trend to the Indian stock markets.
Idea Cellular on Thursday said it has
expanded its network to 260,000 sites across the country, with 50% sites
dedicated to mobile broadband services. According to the company, it added
nearly 50,000 broadband sites over the last 12 months ending August 2017 --
growing its broadband footprint to cover 5,888 towns and nearly 105,755
villages -- reaching out to 45% population of the country. "It has set up
an optical fibre network of approximately 150,000 route km to strengthen its
wireless broadband services," Idea said in a statement. The company said
it planned to continue the rapid rollout of its pan-India wireless broadband
network throughout FY18 with a capex of Rs6,000 crore. "With
aggressive capex infusion, one lakh sites have been erected by Idea in the last
two years, and we will continue to invest in expanding our wireless broadband
capacity to enable the company's Digital Idea plans," said Anil Tandan,
Chief Technology Officer, Idea Cellular. Idea Cellular’s shares closed at
Rs81.75, down 1.03% on the BSE. The
Total Investment & Insurance Solutions
InterGlobe
Aviation which operates budget passenger carrier IndiGo on Wednesday said it
will issue shares to "qualified institutional buyers" on September
15, Friday, in a price band of Rs1,125 to Rs1,175 per equity share. According
to a BSE filing, the company said the decision was taken by its
"Securities Committee of the Board of Directors" on Wednesday.
InterGlobe Aviation shares closed at Rs1,184.50, down 1.02% on the BSE.
The top gainers and top losers of the major
indices are given in the table below: The
Total Investment & Insurance Solutions
 |
Top Gainer (The Total
Investment & Insurance Solutions)
The closing values of the major Asian indices
are given in the table below: The Total
Investment & Insurance Solutions
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| Asian Indices (The Total Investment & Insurance Solutions) |
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