Contact Your Financial Adviser Money Making MC
20
March 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex might try to rally
after a brief dip. The major indices of the Indian stock markets made a minor
rally on Tuesday after a morning dip and closed with small gains over Monday’s
close. On the NSE, there were 684 advances, 1,036 declines and 303 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)
Buying
was observed in IT (information technology), Teck (technology, media and
entertainment) and auto stocks.
Reliance
Infrastructure (RInfra) subsidiary Delhi Airport Metro Express (DAMEPL) has
moved the Delhi High Court seeking execution of the arbitration award of
Rs5,200 crore it had won against Delhi Metro Rail Corp (DMRC), the company said
on Tuesday. "In its petition filed under section 36 of the Arbitration and
Conciliation Act in the division bench headed by Chief Justice of Delhi HC,
DAMEPL has sought an order for the execution of the award dated May 11, 2017
passed by the Arbitral Tribunal and direct DMRC to pay a Rs5,200 crore,"
the statement said. The claim includes principal amount of Rs2,945.54 crore
along with interest as on date, it added. RInfra shares closed at Rs453.05, up
6.79% on the NSE.
The Total Investment & Insurance Solutions
Wheat
production in the country could this year achieve the long-cherished target of
100 million tonnes (MT), thanks to the conducive climatic conditions throughout
the season, especially in March when the grain ripens. A good agricultural
harvest is likely to keep aggregate demand in the economy high enough for a
long term bullish trend in the Indian stock markets.
Diamond
merchant Mehul Choksi, co-accused in the Rs13,540 crore Punjab National Bank
(PNB) fraud, has said that "exaggerated" allegations by multiple
investigating agencies have left him "completely defenceless" and
that he feared for his safety to return home. PNB shares closed at Rs96.85, up 0.41%
on the NSE.
The Total Investment & Insurance Solutions
UltraTech
Cement said it has concluded a commercial understanding with Binani Industries
to buy over 98% stake in its cement manufacturing subsidiary Binani Cement Ltd
(BCL) which is facing insolvency proceedings. UltraTech, which was one of the
resolution-plan applicants in the insolvency proceedings of BCL, agreed to
issue a "comfort letter" to the debt-ridden cement manufacturer,
confirming that it will provide funds amounting to Rs7,266 crore to acquire the
firm. "The company has in-principle concluded commercial understanding
with BIL (Binani Industries Ltd) for purchase of 98.43% of the shareholding of
BCL subject to termination of IBC proceedings, entering into definitive
agreement and other customary and regulatory approvals, a the company said in a
regulatory filing. UltraTech Cement shares closed at Rs3,936.80, down 0.66% on
the NSE.
The
initial public offer (IPO) of Bandhan Bank has been oversubscribed 14.63 times
on the closing day of bidding on Monday. The Rs4,473 crore IPO received bids
for over 122.16 crore equity shares against the offer size of over 8.34 crore
shares. The reserved portion of qualified institutional buyers (QIBs) has
oversubscribed 38.67 times while the portion for non-institutional investors
witnessed subscription of 13.89 times and retail 1.20 times. The Kolkata-based
lender planned at raising upto Rs4,473 crore at the higher price band of Rs375
per share. Of the total size, it allocated over 3.57 crore equity shares at a
price of Rs375 a piece aggregating to Rs1,341.91 crore to 65 anchor investors.
The bank will not receive any proceeds from the offer for sale. The S & P
BSE Bankex closed at 27,193.80, down 0.42% on the BSE.
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) |
No comments:
Post a Comment