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25 January 2018
I had mentioned in last
week’s closing report that Nifty, Sensex were on a roll. The major indices of
the Indian stock markets rallied during the week and closed with gains on
Thursday 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: Total Investment & Insurance Solutions
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Weekly Indices (The Total
Investment & Insurance Solutions)
Broadly
positive global cues, coupled with buying in energy, consumer durables and
capital goods stocks, pushed key Indian equity indices to trade at fresh highs
on Monday. According to market observers, upbeat quarterly corporate earnings
along with continuous inflow of foreign funds lifted investors' risk-taking
appetite. Both benchmarks, Nifty and Sensex, climbed to fresh record highs in
early trade on the hopes of government meeting the fiscal deficit target as it
announced generating Rs370 billion through stake sale in petroleum refinery. On
the NSE, there were 950 advances, 772 declines and 259 unchanged.
Budget
passenger carrier SpiceJet on Monday said it has launched its "Great
Republic Day Sale" with one-way fares starting as low as Rs769 and Rs2,469
for travel to select destinations on its domestic and international network
respectively. According to the airline, the four-day sale launched on Monday
would be open till January 25 while the travel period covered would be till
December 12. Total Investment & Insurance Solutions
Infosys
on Monday announced a strategic partnership with Hong Kong-based AS Watson
Group (ASW), an international health and beauty retailer, to accelerate ASWs
digital transformation initiatives. AS Watson Group has over 13,700 stores in
24 markets. Total Investment & Insurance Solutions
Key
Indian equity indices on Tuesday climbed to new highs as investor sentiments
were uplifted by bullish global cues, combined with fresh inflows of foreign
funds and buying support in metals, banking and oil and gas stocks. Market
observers said the sentiments were uplifted on projection of India's economic
growth outlook, along with optimism over the Union Budget to be presented next
week. Investors received a boost from International Monetary Fund's projection
that India could emerge as the fastest-growing country in the world in 2018 at
7.4% amid optimism over Prime Minister Narendra Modi's address to the World
Economic Forum. Also, investors' expectation from the Union Budget helped the
market to reach new highs, pointed out market analysts. On the NSE, there were
885 advances, 797 declines and 333 unchanged.
Asian
Paints said its consolidated net profit after non-controlling interest (from
continuing operations) rose by 21.6% to Rs554.64 crore during the third quarter
(Q3) ended 31 December 2017, from Rs456.18 crore reported during a year-ago
period. The company's consolidated revenue from operations edged higher by
10.9% to Rs4,267.49 crore during the quarter under review from Rs3,846.53 crore
reported during the corresponding period of last fiscal. "The decorative
paint business in India registered single-digit volume growth in the current
quarter," K.B.S. Anand, Managing Director and CEO of Asian Paints, said in
a statement. "The automotive coatings JV (PPG-AP), witnessed good growth
in the auto OEM, auto refurnish and general industrial business segment;
whereas good growth in the powder coatings segment led to decent performance of
the Industrial Coatings JV," he added. According to Anand, units in
Bangladesh, Oman, Bahrain and Nepal witnessed good growth. "However, the
international group performance was impacted by adverse exchange fluctuations
in some key markets," he added. On a standalone basis, the paint company's
Q3 net profit surged by 24.2% to Rs528.97 crore compared with Rs425.83 crore
reported during Q3 2016-17. Revenue from operations for the reviewed quarter
stood at Rs3,587.43 crore -- up 11.3% -- from Rs3,222.32 crore during the like
period of last fiscal. Total Investment
& Insurance Solutions
Key
Indian equity indices closed Wednesday's trade on a flat-to-positive note --
wiping off most of last five sessions' gains -- as investors booked profits.
However, key indices managed to close at fresh levels after touching new highs
on an intra-day basis. According to market observers, stocks of IT (information
technology), Tech and FMCG (fast moving consumer goods) contributed to the
marginal gains in indices, while the consumer durables, oil and gas, and auto
stocks dragged lower. Total Investment &
Insurance Solutions
Battery
maker Eveready Industries India Ltd (EIIL) on Wednesday said it has agreed to
enter into a joint venture (JV) with Indonesia-based Universal Wellbeing Pte.
Ltd for manufacturing or importing and marketing of fast moving consumer goods
(FMCG) in India. The city-based battery and lighting major would acquire 30 per
cent shares of the joint venture while 70% would be acquired by the Indonesian
firm. Universal Wellbeing, part of the Wings Group of Indonesia, is one of the
leaders in the FMCG market in Southeast Asia and develops, manufactures and
sells a wide variety of products in fabric and household care, personal care,
skincare, and foods and beverages.
Idea
Cellular posted consolidated net loss of Rs1,284.5 crore for the third quarter
(October-December) 2017-18, a company statement said here on Wednesday. The
company had posted consolidated net loss of Rs384 crore during the
corresponding period in 2016-17. The company attributed its loss to the
reduction of mobile termination charge in the industry from 14 paisa to 6 paisa
per minute by the Telecom Regulatory Authority of India.
Breaking
a six-day gaining streak, the key Indian equity indices on Thursday slid into
the negative territory as investors turned cautious on the day of January
futures and options (F&O) expiry. According to market observers, profit
booking in banking, IT (information technology) and consumer durables stocks
dampened the sentiment. On the NSE, there were 585 advances, 1,140 declines and
289 unchanged. Total Investment & Insurance Solutions
Asian
stocks held near a record high on Thursday though concerns about the Trump
administration's stance cast a shadow on financial markets while the dollar was
under pressure after US Treasury Secretary Steven Mnuchin welcomed a weaker
currency, pointed out market analysts.The
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