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9
January 2018
I had mentioned in Monday’s closing report that Nifty, Sensex were headed
higher. The major indices of the Indian stock markets closed with minor gains
over Monday’s close. On the NSE, there were 588 advances, 879 declines
and 19 unchanged. The trends of the major indices in the course of Tuesday’s
trading are given in the table below: The
Total Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
The
Nifty50 touched a fresh intra-day high of 10,659.15 points. The barometer
30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,431 points,
closed at a new high of 34,443.19 points -- up 90.40 points or 0.26% -- from
its previous session's close. The Sensex scaled a fresh intra-day high of
34,488.03 points.
Leading
cab aggregator Ola and ICICI Bank signed a MoU to bring forth a range of
integrated offers for their customers and driver partners. "This alliance
will provide increased convenience to customers on both the platforms as well
as hundreds of thousands of driver partners," Bhavish Aggarwal, Co-Founder
and CEO of Ola, said in a statement. Through this alliance, both brands will
bring together their respective technology platforms to offer Ola booking facility
on ICICI Bank's mobile banking platforms. It will enable ICICI Bank customers
to seamlessly book an Ola and pay the fare by using the bank's mobile banking
applications; 'iMobile' and 'Pockets'. ICICI Bank shares closed at Rs312.60,
down 0.57% on the NSE. The Total Investment
& Insurance Solutions
The
Coal India board on Tuesday approved a non-coking coal price hike for both
power and non-power consumers. The price increase is expected to push the
miner's revenue up by Rs1,956 crore for the remaining period of the current
fiscal. The price revision is effective from Tuesday and the projected
incremental annual revenue would be Rs6,421 crore. Coal India shares closed at
Rs304.05, up 5.76% on the NSE. The Total
Investment & Insurance Solutions
Low-cost
carrier IndiGo said that it will commence daily direct flights from Chennai and
Bengaluru to Colombo from January 20. "Both corporate and leisure
passengers travelling to and from Colombo will get the opportunity to
experience on-time, affordable and a hassle-free travel experience that IndiGo
is synonymous with," the airline said in a statement. Interglobe Aviation
shares closed at Rs1,227.10, up 0.18% on the NSE.
State-run
Indian Overseas Bank (IOB) has announced its plans to set off its accumulated
losses with funds from its share premium account. In a release late on Monday,
IOB said it intends using Rs7,650 crore in its share premium account to write
off its accumulated losses worth Rs6,978.94 crore. The decision, approved by
the bank board last week, will now be put to vote at an extraordinary general
meeting (EGM) on January 30. The bank’s shares closed on Tuesday at Rs23.95 (no
change from Monday’s close) on the NSE.
Dry
cell batteries maker Eveready Industries India Ltd (EIIL) said it is entering
into the confectionery business with its brand "Jollies" and is also
hoping to become a major player in the market in the next 3-5 years. According
to it, the confectionery market is estimated at over Rs9,000 crore and in the
first phase, the brand will be launched in the fruit chew segment which is
estimated to be around Rs400 crore. "The segment is growing at a rapid
pace. The company believes that the fast growing fruit chew segment will double
in the next 3-4 years and expects to become a significant player in this
segment by making this under-penetrated category available across urban and
rural India through its robust deep distribution network," it said in a
statement. The company is working on an asset light model and hopes it can add
significant turnover and profitability with entry into this segment. Company's
Managing Director Amritanshu Khaitan said "The brand is the first step to
scale up our FMCG portfolio of products. We believe that priced at Re.1,
Jollies fruit chew will be an attractive offering to Indian consumers who
prefer healthier choices." According to him, candies are a mass market
product and can be carried in the Eveready vans reaching a million outlets. The
company’s shares closed at Rs444.85, up 0.24% on the NSE.
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
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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