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12
April 2018
I had mentioned in Wednesday’s closing report
that Nifty, Sensex might head lower on geo-political concerns. The major
indices of the Indian stock markets closed with gains over Wednesday’s close.
On the NSE, there were 715 advances, 1,016 declines and 317 unchanged. There
was strong buying witnessed in all software stocks. 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)
The
Confederation of Indian Industry (CII) on Thursday said it expects India's
gross domestic product (GDP) to grow at 7.3%-7.7% during the 2018-19 financial
year. "This is based on strengthening demand in the rural economy,
including agriculture and non-farm activities, as well as better global growth
climate," said Rakesh Bharti Mittal, President, CII. "There are some
macro challenges like rising oil prices, but that would be more than
compensated by improving industrial performance," he added.
State-run
IDBI Bank on Thursday said a Rs3 crore penalty imposed on it by the Reserve
Bank of India (RBI) "will not have any material impact" on it.
According to a BSE filing by IDBI Bank, the RBI imposed a Rs3 crore penalty on
it for non-compliance of 'Income Recognition and Asset Classification' (IRAC)
norms. "This is to inform that the RBI vide letter dated April 10, 2018
has imposed a monetary penalty of Rs 30 million on the bank... for
non-compliance with the directions issued by it on IRAC norms," the filing
made on Thursday said. "It is further clarified that the said penalty will
not have any material impact on the bank." IDBI Bank shares closed at
Rs71.65, down 0.62% on the NSE.
With
the Indian Air Force beginning the process of buying 110 fighter jets, in a
deal that could be worth more than $15 billion, Lockheed Martin has expressed
its readiness to shift its F-16 fighter aircraft manufacturing unit to India --
and the US government, according to the manufacturer, will allow it to do that.
This is likely to give a filip to defence suppliers from India and abroad.
Even
as Aadhaar's credibility is being questioned, paperless travel could soon
become a reality, according to a top aviation expert. "Our research shows
that 70% of passengers in India said they would definitely use biometrics if
given the option, removing the need to show a passport or boarding card at key
points at airports," Maneesh Jaikrishna, Vice President -- Indian
Subcontinent, Eastern and Southern Africa -- for SITA told IANS in an interview
here. He said this was well above the global average of 57%. Leveraging India's
national Aadhaar biometric identity system, together with SITA's Smart Path
technology, would be able to provide secure and efficient journey through the
airports, he added. SITA is IT and communications service provider for air
transport. Jaikrishna had announced at the recent Air Transport IT Summit in
Jaipur that paperless travel would be a reality in India soon. Jet Airways
India shares closed at Rs621.65, up 0.63% 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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