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1 September 2017
I had
mentioned in last Friday’s closing report that Nifty, Sensex were on course to
head higher. The major indices of the Indian markets closed the week with gains
over last Friday’s close. The trends of the major indices in the course of the
week’s trading are given in the table below:
Weekly Indices (The Total
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Key
Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- traded on a
higher note during mid-afternoon trade session on Monday as buying in capital
goods, consumer durables and IT (information technology) stocks and a strong
rupee lifted investors' sentiments. Intense buying was observed in index
heavyweights like Infosys, Hero MotoCorp, Sun Pharma and Adani Ports, too,
added to the upward trajectory of the key indices. On the NSE, there were 996
advances, 457 declines and 62 unchanged. The
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Reliance
Capital Ltd, part of the Anil D Ambani-led Reliance Group, on Monday announced
the record date for allotment of equity shares of Reliance Home Finance Ltd. In
a statement issued by Reliance Capital said all persons who are shareholders of
Reliance Capital as on September 6, will receive one free share of Reliance
Home Finance for every share held in Reliance Capital. "The transfer was
earlier approved by an overwhelming majority of 99.59 per cent votes in favour
of the Scheme of Arrangement at the Tribunal-convened general shareholders
meeting held on July 24, 2017, and other requisite approvals have duly been
received," the statement said. Reliance Capital will hold a 51% stake in
Reliance Home Finance, and the company will be adequately capitalised to grow
the lending book multi-fold in future. Reliance Capital shares closed at
Rs788.05, up 1.39% on the NSE. The Total
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Geo-political
tensions, foreign fund outflows dragged the equity markets lower on Tuesday. A
day after closing at their lowest levels in a week's time, key Indian equity
indices bounced back to trade with substantial gains during the mid-afternoon
session on Wednesday as positive global cues and buying in oil and gas, metal
and banking stocks lifted investors' sentiments. According to market observers,
buying in index heavyweights like HDFC, Reliance Industries, Adani Ports and
Coal India aided the upward trajectory of the NSE Nifty50 and the BSE Sensex.
On the NSE, there were 1,114 advances, 322 declines and 54 unchanged.
After
a sharp fall in the previous session, the benchmark indices opened higher on
Wednesday ahead of derivatives expiry of August series due on Thursday.
Positive trend in Asian markets and on Wall Street, after concerns about North
Korea's firing of a missile over Japan ebbed, aided the sentiment, pointed out
market analysts. The Total Investment & Insurance
Solutions
Maruti
Suzuki India announced the upgrading of its retail channel for better customer
service as the re-branded 'Maruti Suzuki Arena' that will require its dealers
to invest in redesigned showrooms over the next five years. "Besides
providing a more comfortable ambience for buyers, key to the new-look
dealerships is the digital connectivity offering a seamless experience of the
car going from online to offline at the showroom," an official of India's
biggest car maker said at the launch event. The company website has been
suitably upgraded. The investment in re-doing the more than 2,000 dealerships
across India would be made by the dealers themselves who have readily agreed to
it, said R.S. Kalsi, Senior Executive Director (Marketing and Sales).
"About 80 showrooms of the 2,050 in India will be converted to the Arena
within this financial year," he said, adding the other "partners"
will upgrade to the Arena format within three to five years. "With today's
launch, the company will have four distinct retail channels -- Arena, Nexa,
Maruti Suzuki Commercial and True Value. Arena is set to usher in a new chapter
in our sales journey and help attract new buyers," said Chief Executive
Kenichi Ayukawa. The company’s shares closed at Rs7,557.45, up 0.51% on the
NSE. The Total Investment & Insurance
Solutions
IT
(information technology) major HCL Infosystems said that it will raise Rs500
crore by "rights issue of shares to existing shareholders". According
to a BSE filing, the company's board approved the plans to raise the equity
capital in its meeting held on Tuesday. "The Board of Directors...
approved the recommendations of its Capital Raising Committee to go for a
rights issue of shares to existing shareholders of the company as a mode of
raising equity capital aggregating up to Rs500 crore," the filing said.
The company’s shares closed at Rs47.75, down 0.10% on the NSE. The Total Investment & Insurance Solutions
The
major indices of the Indian stock markets were range-bound on Thursday and
closed with small gains over Wednesday’s close. Shares of Wipro and Reliance
rose, whereas the shares of NTPC and Sun Pharma fell. Reliance Industries
gained 1% after the company said it will make an offer for issuing
non-convertible debentures (NCDs) worth Rs2,500 crore next week, observed
market analysts. The Total Investment & Insurance
Solutions
State-run
UCO Bank said it has Rs4,500 crore exposure in the identified 12 large
non-performing accounts and additional Rs3,000 crore in the second list of 21
stressed accounts. "In the initial list of 12 (companies or stressed
accounts), we have exposure in nine accounts and the exposure would be Rs4,500
crore...as far as the new list is concerned, our exposure would not be to that
extent and it would be less - around Rs3,000 crore," bank's MD and CEO
R.K. Takkar told BTVi in an interview. According to Takkar, the RBI has given
time up to December 13,to find a normal resolution and the lenders were
directed to take companies to National Company Law Tribunal if the normal
resolution fails. The bank’s shares closed at Rs30.95, up 0.65% on the NSE. The Total Investment & Insurance Solutions
On
Friday, the major indices of the Indian stock markets rallied and closed with
gains over Thursday’s close. Key Indian equity indices -- the NSE Nifty50 and
the BSE Sensex -- traded with substantial gains during the mid-afternoon
session on Friday as broadly positive global cues and buying in automobile,
banking and healthcare stocks kept investors' sentiments buoyed. Shares of
pharmaceutical companies rose, whereas Tata Consultancy Services and HDFC
shares fell. Top gainers on NSE were Dr Reddy's Lab, Auropharma and Lupin,
while the top losers for the morning were TCS, HDFC and Hindustan Unilever,
observed market analysts. On the NSE, there were 1,071 advances, 574 declines
and 321 unchanged.
The
growth in production in India's eight major industries accelerated during July
when total output grew by 2.4% in comparison with a 0.8% marginal increase
during the previous month, official data showed on Thursday. The Index of Eight
Core Industries (ECI), representing the output of major industrial sectors like
coal, steel, cement and electricity, grew by 3.1% in the corresponding month of
the previous year. This is good news for the Indian stock markets and the major
indices are likely to be on a long term upward trajectory.The Total Investment & Insurance Solutions
