Contact Your Financial Adviser Money Making MC
2
April 2018
The
major indices of the Indian stock markets rallied on Monday and closed with
significant gains over Friday’s close. On the NSE, there were 1,475 advances,
287 declines and 290 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)
Reliance
Infrastructure has won an engineering, procurement and construction (EPC)
contract for Rs441 crore from the Ministry of Road Transport and Highways for
the upgrading of National Highway 66 in the Kashedi Ghat section which includes
execution of three by three lane twin tunnels of total length 3.44 km, a
company statement said here on Monday. Commissioned under the National Highway
Development Programme (NHDP) - IV of the Ministry, the project is to be
completed in 30 months. Thereafter, Reliance JV will operate and maintain the
project for 48 months. Reliance Infrastructure had bid for the project in
joint venture with CAI, Ukraine. The company’s shares closed at Rs443.65, up
3.96% on the BSE. The Total Investment & Insurance
Solutions
Electrosteel
Steels' resolution professional (RP) on Monday submitted Vedanta's resolution
plan before the Kolkata bench of National Company Law Tribunal for final
disposal after lenders declared it as "successful resolution
applicant". However, Renaissance Steel, one of the resolution applicants,
was opposing the Committee of Creditors' (COC) decision in respect to
eligibility of its rival bidders, Vedanta Ltd and Tata Steel. A counsel,
appearing for Renaissance, said: "We are opposing the CoC's decision on
eligibility of Vedanta and Tata. We also opposed the resolution plan (of
Vedanta)." Following a direction from the Tribunal, the CoC to the
insolvent steel producer had decided to go ahead with Vedanta, rejecting
objections raised by Renaissance Steel. On March 31, Vedanta informed stock
exchanges that it was declared "successful resolution applicant"
under the insolvency process and had received the Letter of Intent (LoI). The
company also said it had accepted the terms of the LoI. Next hearing before the
Tribunal was scheduled on April 4. Vedanta shares closed at Rs282.50, up 1.51%
on the BSE.
Petroleum
products should be brought under GST so that consumers can get the benefit of
price rationalisation, Union Minister Dharmendra Pradhan said on Monday, a day
after transport fuel prices in Delhi hit record highs, even as cleaner Euro-VI
grade petrol and diesel supply began here. Speaking at an event here to mark
Sunday's launch in Delhi of the "cleanest available" Euro VI emission
norm-compliant BS VI fuels, in place of the earlier Euro IV grade, Pradhan
recalled how the Central government had cut excise duties on fuels last year in
the face of rising global crude prices and some states had followed suit by
cutting local taxes. "On prices we have nothing to hide... petrol, diesel
are international commodities and whenever there is a hike or fall in global
rates we pass it on to the consumers," Pradhan said, noting that prices
change on a daily basis under dynamic pricing. "India is a consumer
sensitive country and the government has cut excise duties last year... some
states also reduced VAT on fuels. States should now respond accordingly and
responsibly." Indian Oil Corporation shares closed at Rs170.55, down
3.26%. Rising fuel prices could bring back inflation threats on the economy and
to that extent adversely affect the Indian stock markets. The Total Investment & Insurance Solutions
Two
and three wheeler maker TVS Motor Company Ltd on Monday said it closed last
month with 27% growth in sales volume. In a statement, the company said it sold
326,659 units (315,765 units of two wheelers and 10,894 units of three
wheelers) in March, up from 256,341 units (two wheelers -- 250,979 units and
three wheelers -- 5,362 units) sold in March 2017. The company’s shares closed
at Rs662.30, up 7.35% on the BSE.
Pharma
major Dr. Reddy's Laboratories Ltd and its American subsidiary, Promius Pharma,
LLC on Monday announced the filing of a New Drug Application (NDA) for its
migraine candidate DFN-02 with the US Food and Drug Administration (USFDA). The
company’s shares closed at Rs2,132.35, up 2.40% on the BSE.
Commercial
vehicle major Ashok Leyland on Monday said it closed last month with 20% sales
growth. In a statement issued here, the company said it sold 22,453 units last
month, up from 18,701 units sold in March 2017. Last fiscal the company sold a
total of 174,873 units, up from 145,085 units sold during 2016-17, the
statement added. The company’s shares closed at Rs148.10, up 1.93% on the BSE. The Total Investment & Insurance Solutions
Maruti
Suzuki India on Sunday posted a 14.9% rise in its March sales at 1,60,598
units, as compared 1,39,763 units sold in the same month last year, according
to a company statement. In a release here, the country's biggest car
manufacturer said that it, thus, closed out the financial year ended March 31
with its highest ever total sales of 1,779,574 units, at a growth rate of 13.4%
in 2017-18. "This comprises highest ever domestic sales of 1,653,500
units. The export sales were 126,074 units," it said. Domestic sales in
March stood at 1,48,582 units, up 16.1% from 1,27,999 units sold in the same
month last year. The company’s shares closed at Rs9,009.05, up 1.65% on the
BSE.
The
CBI has registered a preliminary enquiry against Deepak Kochhar, husband of
ICICI bank MD and CEO Chanda Kochhar, officials of the Videocon group and
others to determine whether any wrongdoing was involved in the sanctioning of a
Rs3,250 crore loan to the Videocon Group by the ICICI Bank Ltd as part of a
consortium of banks in 2012. Bad publicity along with a fine levied by Reserve
Bank on ICICI Bank led to a sharp correction of around 6% on the share price of
ICICI Bank. Its shares closed at Rs261.90, down 5.93% 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