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10
April 2018
I had mentioned in
Monday’s closing report that Nifty, Sensex would be driven by US market trends.
The major indices of the Indian stock markets were range-bound on Tuesday and
closed with small gains over Monday’s close. On the NSE, there were 819
advances, 908 declines and 322 unchanged. The trends of the major indices of
the Indian stock markets 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)
Hopes over easing of recent
global trade protectionist measures aided the key Indian equity indices to rise
during the early-morning trade session on Tuesday in-line with their Asian
peers. According to market observers, there was buying in metals, banking and
capital goods stocks making Indian equities trade in the green for the fourth
consecutive session. US stock futures rallied, Asian shares bounced and the yen
fell on Tuesday as Chinese President Xi Jinping promised to lower import
tariffs on products including cars, observed market analysts.
Enterprise and innovation
should be the guiding principles in the 21st century, Prime Minister Narendra
Modi told central public sector enterprises on Monday while asking them to come
up with a road map for the next 100 days with timelines as part of efforts to
build a New India by 2022. Addressing the Central Public Sector Enterprises
conclave here, he urged them to strive for global greatness in the next few
years. "We have to ask ourselves how Indian public sector
undertakings will achieve global greatness in the next five-ten years. How
there should be maximum innovation, what improvement should be made in
processes that leads to increase in revenue and creates new avenues of
employment generation," Modi said. He said PSE really means - profit and
social benefit generating enterprise, which not only earns profit for
shareholders but benefits the society. The government policy could return to
greater focus of doing things in the public sector, as it was in the Indian
economy thirty years ago. The Total Investment & Insurance Solutions
Lending major HDFC on
Monday said that it has increased its 'Retail Prime Lending Rate' (RPLR) by 20
basis points effective since April 1, 2018. HDFC's 'Adjustable Rate Home Loans'
(ARHL) are benchmarked on RPLR. HDFC shares closed at Rs1,818.25, down 1% on
the NSE.
Binani Industries, the
parent company of insolvent Binani Cement, on Monday informed the National
Company Law Tribunal's Kolkata bench that it has moved the Supreme Court for
termination of insolvency proceedings against its cement manufacturing
subsidiary. Binani Industries closed at Rs101.65, down 3.88% on the NSE. The Total Investment & Insurance
Solutions
Larsen & Toubro
(L&T) IT services arm said it has bagged a multi-million dollar
digitisation deal from Exxon Mobil exploration firm. "The value of the
deal signed with Exxon is $20 million (Rs 130 crore) for the first year of the
contract," said the city-based L&T Technology Services Ltd in a
statement here. The engineering R&D services firm's geospatial and digital
expertise will convert Exxon's historical geoscience content into digital domain
by leveraging automation utilities.
"Digitisation will provide Exxon
geo-scientists improved data, and enhance the speed and efficiency of analysis
and evaluation," noted the statement. The IT arm will rope in the services
of the group's other IT subsidiary -- L&T Infotech -- in serving the
American multinational oil and gas corporation. "The deal re-affirms our
investment strategy for flagship customers and ensures our position as a
leading partner among top engineering R&D service providers by capitalising
on the changing digital shifts in the oil and gas industry," said the
statement. L & T shares closed at Rs1,350.00, up 1.66% on the NSE.
The Union government on
Tuesday ordered a probe into an incident of deplaning of a passenger by IndiGo
airline, over his alleged complaint of mosquitoes in the aircraft. InterGlobe
Aviation shares closed at Rs1,478.40, down 0.99% on the NSE.
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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