Contact Your Financial Adviser Money Making MC
30
April 2018
The
major indices of the Indian stock markets made a small rally on Monday and
closed with gains over Friday’s close. On the NSE, there were 799 advances, 648
declines and 42 unchanged. The trends of the major indices in the course of
Monday’s trading are given in the table below: The Total Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
The
key Indian equity indices traded higher on Monday, tracking firm cues from
Asian indices. Buying was witnessed in the IT (information technology), banking
and capital goods stocks. The Total
Investment & Insurance Solutions
Expressing
surprise over the Fortis Healthcare Board's decision to allow a re-bid to
acquire a stake in the company, two earlier joint bidders said on Sunday that
equal opportunity should be given to all bidders in the auction. Sunil Kant
Munjal-led Hero Enterprise Investment and the Burmans of Dabur Group had
earlier made the joint bid for a stake in Fortis Healthcare. Fortis on
Saturday said that its board will meet on May 10 to consider recommendations by
its expert advisory committee (EAC) set up to evaluate all binding proposals
for fund infusion. "With regard to Fortis, we had assumed that the final
bids have been submitted and only review to choose the best offer was pending.
We were a bit surprised to learn that everyone has one more chance to
bid/re-bid," said a statement issued by the Munjals and Burmans after the
board meeting on the Fortis bid. "We still welcome the board move.
However, we strongly believe that there should be equal opportunity to all
bidders without unfair advantage to any one party," it said. In a stock
exchange filing on Saturday, Fortis had said: "The EAC will only consider
evaluating all binding bids (whether current or improvised or modified or new)
received by the company till noon (IST) on May 1." "In line
with the obligations towards Manipal and TPG consortium, if any new or modified
binding bids are received anytime till noon on May 1; Manipal and TPG
consortium have the ability to revise their offer till May 6." Fortis
Healthcare shares closed at Rs152.25, down 1.07% on the NSE.
Most
Indian industry sectors have reported negative growth in deployment of gross
bank credit, a fallout of banks' inability to lend being saddled with mammoth
non-performing assets (NPA), or bad loans, coupled with lack of appetite for
fresh investment by highly indebted corporate India, industry body Assocham
said on Sunday. The S & P BSE Bankex closed at 28,651.87, up 0.43% on the
BSE. The Total Investment & Insurance
Solutions
Almost
a year after the Real Estate Regulatory Act (RERA) was enacted, its
implementation is still patchy, with a permanent regulator missing in most
states. The result is that buyers still have not got a clear roadmap and
builders continue to sell distant dreams. Among 29 states in the country, only
Maharashtra, Madhya Pradesh and Punjab have set up permanent real estate
regulatory authorities so far. Jammu and Kashmir is out of the purview of the
Act as the state has to enact its own law. "Given that it is a state
subject, the implementation has been quite varied," said Pallav Pandey,
Co-Founder and CEO, FastFox, an online platform for rental housing, adding that
"much confusion persists on what is permissible in practice".
According to a report by the consultancy firm Knight Frank, eight states have
not even installed a regulating authority and the remaining 17 have installed
"interim" regulators. "Sadly, most states have been playing the
waiting game about getting a permanent regulator after handing over the reins
to such ‘interim' authorities. What was strictly supposed to be a stop-gap
arrangement has turned into a standard," says the report. Additionally,
only 14 states and seven Union Territories have a functional portal in place
and 20 states and the Union Territories have notified the rules. Nifty Realty
closed at 321.80, up 1.43% on the NSE. The
Total Investment & Insurance Solutions
Macro-economic
data points, coupled with fourth quarter (Q4) earning results, are expected to
influence the Indian equity markets during the current truncated week.
According to market observers, the US Fed's open market committee meet along
with the trajectory of global crude oil prices and the rupee's movement against
the US dollar can trigger volatility during the week's trade sessions.
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)
No comments:
Post a Comment