Contact Your Financial Adviser Money Making MC
7
February 2018
I had
mentioned in Tuesday’s closing report that Nifty, Sensex might try to stage a
rally. The major indices of the Indian stock markets opened higher but gave up
all the gains closed with small losses over Tuesday’s close. On the NSE, there
were 1,209 advances, 323 declines and 55 unchanged. The trends of the major
indices in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Key Indian equity indices on Wednesday traded
on a flat note during the afternoon session after the Reserve Bank of India
(RBI) kept its key lending rate unchanged. The Total Investment & Insurance Solutions
The Reserve Bank of India (RBI) kept its key
interest rate unchanged at 6% for the fourth time in succession at its final
bi-monthly monetary policy review of the fiscal, citing concerns about the
inflationary push by rising global crude oil prices. Announcing the policy
review, the RBI said its decision is consistent with the neutral stance of the
central bank aimed at achieving its median inflation target of 4%. The
continuing rise in food and fuel prices pushed India's annual retail inflation
rate over the 5% mark in December 2017 to 5.21%, from 4.88% in November 2017. The Total Investment & Insurance
Solutions
Fixation of Minimum Support Price (MSP) for
agriculture commodities over the production cost will have minimal impact on
inflation, said a report of SBI's Economic Research Department (ERD). With
little change in aggregate demand in the Indian economy, this is likely to help
in the long term bullish trends of the Indian stock markets. The Total Investment & Insurance
Solutions
Two-wheeler
manufacturer Hero MotoCorp reported a 4.32% year-on-year rise in its standalone
net profit for the quarter ended December 31, 2017. According to the company,
its net profit during the period under review increased to Rs805.43 crore from
Rs772.05 crore reported in Q3 2016-17. The company's total income during Q3
2017-18 rose by 5.47% to Rs7,415.51 crore from Rs7,030.57 crore earned during
the corresponding period of 2016-17. The shares of the company closed at
Rs3,566.40, up 0.57% on the NSE.
The Indian Income Tax Department receives
15-25 lakh permanent account number (PAN) applications per week, Parliament was
informed. In a written reply to the Lok Sabha, Minister of State for Finance
Shiv Pratap Shukla said these applications take from a few hours to two weeks
to process for allotting the assessee a PAN number. A physical PAN card or an
e-PAN card is issued to the applicant thereafter. As on January 28, 2018, a
total of 20,73,434 applications were under process or pending for allotment of
PAN and issuance of PAN card, the Minister said. The Total Investment & Insurance Solutions
Telecom service provider Idea Cellular on
Wednesday said it has suspended interconnect services with Aircel due to non-payment
of dues. "Despite several reminders for releasing the dues since November
2017, the operator has failed to meet its payment commitments forcing Idea to
suspend interconnect services, as per the terms of interconnect agreement
between both parties," Idea said in a statement. According to the telecom
service provider, interconnect services will be restored immediately upon
Aircel making the payment towards the outstanding dues. Idea Cellular shares
closed at Rs84.30, down 0.59% on the NSE. The Total Investment & Insurance Solutions
IT
(information technology) major Tech Mahindra and Cloud major VMware announced a
collaboration to jointly develop, market, and deliver solutions to accelerate
network transformation for Communication Service Providers (CSPs).
The United Forum of Bank Unions (UFBU), an
umbrella body of nine unions in the Indian banking sector, on Tuesday decided
to strike work on March 15 to press for early finalisation of wage revision in
banks, said a union leader. " The wage revision was due in November 2017.
The unions have also charted out other protest programmes," All India Bank
Employees' Association General Secretary C.H.Venkatachalam told IANS. He
said a decision to this effect was taken at the meeting of UFBU held in Mumbai
on Tuesday. The S & P BSE Bankex closed at 29,072.19, down 0.43% on
the BSE. The Total Investment &
Insurance Solutions
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: The Total
Investment & Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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