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24
January 2018
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were in a strong bull
grip. The major indices of the Indian stock markets were range-bound on
Wednesday and closed with minor gains over Tuesday’s close. On the NSE, there
were 405 advances, 1,005 declines and 25 unchanged. The trends of the major indices
in the course of Wednesday’s trading are given in the table below:
 |
Major Indices (The 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.
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. The company’s shares closed at Rs432.85,
down 1.57% on the BSE.
Bankers
have suggested accelerated investments and interest subvention for investments
in long gestation infrastructure projects, along with lowering of corporate tax
rate and minimum alternative tax (MAT) to boost credit growth, said a survey
released on Wednesday. The survey, by the Federation of Indian Chambers of
Commerce & Industry (Ficci) and the Indian Banks' Association (IBA), also
said bankers recommended that the government should allow a full tax deduction
on the NPA provisioning as against the cap of 5% of taxable income. "The
bankers have suggested specific measures that may be announced in the upcoming
Union Budget to facilitate credit growth and investment pick-up in the economy.
They recommend accelerated investments in infrastructure sector as well as
interest subvention for investments in long gestation infrastructure
projects," the survey said.
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. Idea Cellular closed
at Rs94.05, down 5.38% on the BSE.
SBI
Capital Markets will evaluate Indian Railways' overhead equipment (OHE) network
for electrical traction as the state-run transporter is exploring the
monetisation of its transmission assets. Expecting to raise about Rs25,000
crore from monetisation of these assets, the Railways has asked SBI Caps to
study its transmission and distribution network for valuation and submit a report
next month. Railways has about 25,000 km of electrified routes involving OHE
through which electric locomotives draw power for running trains and an action
plan finalised by Railway Minister Piyush Goyal has envisaged the complete
electrification of the network by 2020-21.
Indiabulls
Housing Finance reported a rise of 55% in its consolidated net profit to
Rs1,167.73 crore during the third quarter (Q3) ended on December 31. According
to the company, its net profit for the quarter under review stood at Rs1,167.73
crore -- up 55.39% -- from Rs751.49 crore during the corresponding period of
the previous fiscal. In a regulatory filing to the BSE, the company said its Q3
total revenue edged higher by 36.65% to Rs4,105.66 crore from Rs3,004.47 crore
reported during a year ago period. The company declared an interim dividend of
Rs14% equity share for the financial year 2017-18, the BSE filing said. The
company’s shares closed at Rs1,359.65, down 1.43% on the BSE.
The
top gainers and top losers of the major indices are given in the table below:
 |
Top Gainer (The Total Investment
& Insurance Solutions)
The
closing values of the major Asian indices are given in the table below:
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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