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27
April 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were dipping on
global cues. The major indices of the Indian stock markets rallied on Thursday
and closed with gains over Wednesday’s close. On the NSE, there were 783
advances, 927 declines and 337 unchanged. The trends of the major indices in
the course of Thursday’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 Thursday traded with moderate gains with buying
observed in IT (information technology), FMCG (fast moving consumer goods) and
consumer durables stocks. Index heavyweights like Tata Consultancy Services,
IndusInd Bank, Tata Motors, Reliance Industries and ITC were the top gainers on
the BSE. According to market observers, mixed trend in the global markets,
along with caution on the day of derivatives expiry and selling pressure in oil
and gas, capital goods and telecom stocks, trimmed the gains of the indices. The Total Investment & Insurance Solutions
China's
trade with India saw robust growth in the first quarter, with bilateral trade
hitting $22.1 billion, up 15.4% year-on-year, official data showed on Thursday.
This is good news for those in the stock markets who are watching the growth in
Sino-Indian relations and the Chinese leaders’ meeting with PM Modi next week.
In the case of US and China, on the contrary, there is practically, a trade
war.
Global
software major Wipro Ltd reported Rs1,801 crore consolidated net profit for
fourth quarter of fiscal 2017-18, registering 21% annual decline from Rs2,267
crore in the same period last year. In a regulatory filing on the BSE, the
city-based IT firm said consolidated revenue for the quarter under review (Q4)
also declined, albeit marginally by 1.6%, to Rs13,769 crore from Rs13,988 crore
in the same period the year ago. Under the International Financial Reporting
Standards (IFRS), net income is $277 million and gross revenue $2,115 million
for the quarter. IT (information technology) services contributed $2,062
million, posting 2.4 per cent sequential and 5.5 per cent annual growth in
dollar terms and Rs13,410 crore in rupee terms, up 1.3% sequentially from
quarter ago. Wipro shares closed at Rs280.30, down 2.39% on the NSE. Nifty IT
index closed at 14,026.65, up 0.97% on the NSE.
Aditya
Birla Group company UltraTech Cement reported a decline in its consolidated net
profit for the fourth quarter of 2017-18. According to the company, its Q4 net
profit declined to Rs724 crore from Rs726 crore reported for the corresponding
period of the previous financial year. Further, the company reported that its
consolidated net sales during the quarter under review increased to Rs9,298
crore from Rs6,922 crore in the corresponding quarter of 2016-17. "During
Q4 FY18, the company recorded a robust growth of 31% in volumes with a 5% increase
in realisations," the cement manufacturer said in a statement. "The
quarter continued to witness increase in input costs attributable to rise in
pet coke and coal prices and the ban on pet coke usage in TPPs." On a
financial year basis, the company reported that its consolidated net profit
dipped to Rs2,534 crore for the year ended March 31, 2018 from Rs2,714 crore
reported for the previous financial year. "The Board of Directors at their
meeting recommended a dividend of 105%, at the rate of Rs10.50 per equity share
of face value of Rs10 each aggregating Rs288.34 crore," the statement
said. "The company will absorb the Dividend Distribution Tax amounting to
Rs59.27 crore, resulting in a total payout of Rs347.61 crore." The
company’s shares closed at Rs4,079.45, down 1.39% on the NSE. The Total Investment & Insurance Solutions
The
rupee recovered from its 14-month low to trade higher by 11 paise at 66.79
against the US dollar in opening session today on fresh selling of the dollar
by exporters and banks amidst higher opening in domestic equity market. Forex
dealers said besides selling of the American currency by exporters and banks,
weakness in the dollar against other currencies overseas supported the rupee.
The domestic currency had tumbled 52 paise to hit a 14-month low of 66.90
against the US dollar, the third biggest single-day fall for the domestic
currency this year, amid surging crude prices coupled with headwinds on the
macro-economic front in form of widening trade deficit. Foreign institutional
investors are always watching the currency markets to pick and choose among
emerging markets to invest in. 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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