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22
June 2018
The major indices of the Indian stock markets
were range-bound during the week and closed on Friday with negligible gains
over last Friday’s close. The trends of the major indices in the course of the
week’s trading are given in the table below:
The
major indices of the Indian stock markets were range-bound on Monday and closed
with small losses over Friday’s close, tracking weakness in the benchmark
global markets and resurgent concerns of a global trade war. On the NSE, there
were 550 advances, 1,177 declines and 342 unchanged.
Budget
passenger carrier SpiceJet on Monday announced 14 new domestic flights and
enhanced frequency on some routes effective from July 1. “Effective July 1 the
airline is all set to introduce new direct flights on the Pune-Patna,
Chennai-Rajahmundry, Hyderabad-Calicut and Bengaluru-Tuticorin sectors,"
SpiceJet said here in a statement. The airline would also enhance its
operations on the Delhi-Patna (second frequency), Bengaluru-Rajahmundry (second
frequency) and Mumbai-Bengaluru (fifth frequency) sectors, it said. The new
flights introduced on the Delhi-Patna, Mumbai-Bengaluru, and
Chennai-Rajahmundry sectors would be operational daily, the airline said,
whereas the frequencies introduced on the Hyderabad-Calicut,
Bengaluru-Tuticorin and Bengaluru-Rajahmundry routes would be operational on
all days except Tuesdays. Patna-Pune would be operational on all days
except Saturday, it added. SpiceJet further said bookings for the new flights
were currently open.
Fortis
Healthcare (FHL) said that National Company Law Tribunal's (NCLT) Chandigarh
Bench has approved the withdrawal of its scheme of "arrangement and
amalgamation between the company, Fortis Malar Hospitals, SRL and their
respective shareholders and creditors".
The New
Delhi Municipal Council (NDMC) on Monday rescheduled the e-auction of the
five-star Taj Man Singh hotel to July 18 for a license period of 33 years.
The
major indices of the Indian stock market suffered a correction on Tuesday and
closed with losses over Monday’s close, as weak global markets suppressed the
key Indian equity indices. Globally, key markets were weighed down by signs of
a resurgent trade war after reports said that US President Donald Trump might
consider imposing tariffs on additional $200 billion worth of Chinese goods. On
the NSE, there were 446 advances, 1,280 declines and 333 unchanged.
US
President Donald Trump has threatened to impose tariffs on an additional $200
billion worth of Chinese goods shipped to Washington unless Beijing agrees to a
host of sweeping trade concessions, media reports said. In a statement on
Monday, Trump said he had US Trade Representative Robert E. Lighthizer, to draw
up a list of $200 billion in Chinese products that will be hit with tariffs of
10 per cent if China refuses his demands to narrow the yawning American trade
deficit and change its industrial policies, reports The Washington Post.
A
report identifies and reviews project finance lending to 72 energy projects,
comprising of coal-fired power stations and renewable energy generation
facilities in India that reached financial close in 2017. These projects
attracted total lending of Rs83,680 crore ($12.85 billion). Of the top 10
lenders to coal power projects, eight were majority government-owned banks that
collectively gave close to Rs30,337 crore ($4.5 billion) in new and re-financed
lending towards 12 coal power projects. These were Rural Electrification
Corporation, the State Bank of India, India Infrastructure Finance Company,
Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank and Power
Finance Corporation.
The
major indices of the Indian stock markets rallied on Wednesday and closed with
gains over Tuesday’s close. Broadly positive Asian cues lifted the key Indian
equity indices on Wednesday, with the barometer Sensex of the BSE gaining over
250 points. According to analysts, banking, consumer durables and metal stocks
witnessed buying activity. On the NSE, there were 864 advances, 843 declines
and 345 unchanged.
Global
software major Infosys said it has opened a digital centre of excellence at
Marseille to provide expertise to its clients in the region, and hire and train
local talent. "The centre will make digital offerings to companies in
France as they navigate to the next state of their business journey," the
IT (information technology) major said in a statement here.
Stocks
of Indian airlines plunged on Wednesday after data showed that the number
of domestic air passengers registered a slower growth of 16.53% during May on
account of rising fuel prices leading to increase in fares. Indian
carriers carried 11.9 million passengers during May, up from 10.17 million in
May 2017, a Directorate General of Civil Aviation (DGCA) data showed.
General
Electric (G.E.), the last original member of the Dow Jones Industrial Average,
was dropped from the blue-chip index for the first time in 110 years and
replaced by the Walgreens Boots Alliance drugstore chain. Australia's biggest
telecom operator Telstra is cutting 8,000 jobs in a dramatic bid to bring down
costs, the company announced on Wednesday. There is a shake-up going on among
large employers in the global stock markets.
The
major indices of the Indian stock markets were range-bound on Thursday and
closed with small losses over Wednesday’s close. After opening on a positive
note, the key Indian equity indices ceded their gains to trade in the negative
territory on Thursday. According to analysts, the indices were weighed down by
selling pressure on auto, capital goods and banking stocks. On the NSE, there
were 486 advances, 1,227 declines and 350 unchanged.
German
auto component maker Bosch would invest Rs1,700 crore in India over the next
three years, a top company official said. "To meet the rising demand in
the Indian market and expand its strong role in our global network, we will
invest Rs1,700 crore over the next three years," Bosch Group Chairman and
Chief Executive Volkmar Denner told reporters here. A major part of the fresh
investment will be used to expand the company's smart campus here and modernize
its manufacturing facilities in the Indian sub-continent. The 66-year-old Bosch
has 18 manufacturing sites and 7 development and application centres across the
country, with 31,000 employees, including 18,000 research and development
(R&D) associates. Besides three plants in Bengaluru, the company's other
production sites are at Chakan near Pune and Nashik in Maharashtra, Jaipur and
Chennai and other states in the country. Of the group's consolidated revenue of
Rs19,204 crore, Rs13,790 crore was generated by third parties, while its
flagship company (Bosch Ltd) contributed Rs10,842 crore in fiscal 2017-18.
"We will integrate our mobility services and Artificial Intelligence (AI)
in India, as we are committed to address its transition to Bharat Stage (BS)-VI
from April 2020 from BS-IV currently," said Denner.
In a
sudden development, the Economic Offences Wing (EOW) arrested Ravindra P
Marathe, the Chairman and Managing Director of Bank of Maharashtra, in a case
of Rs3,000 crore fraudulent loans extended to Pune's DSK Group, an official
said.
Tech
Mahindra announced a strategic investment in the US and Germany. The firm
inaugurated its research and development centre -- Makers Lab -- in Munich,
Germany and at Plano, Dallas, the US. According to Tech Mahindra, "Maker's
Lab" is a research and development hub for co-innovation of solutions and
services of the future with customers, partner companies, research
institutions, universities, and start-ups. With the launch of the Makers Lab in
the US and Germany, Tech Mahindra now has seven R&D centres globally.
On
Friday, the major indices of the Indian stock markets rallied and closed with
gains of upto 0.75% over Thursday’s close. On the NSE, there were 783 advances,
919 declines and 361 unchanged.
Low-cost
carrier Air Odisha started flight operations between Bhubaneswar and Raipur
from the Biju Patnaik International Airport (BPIA) here on Friday. An 18-seater
airplane was flagged off by city Airport Director Suresh Chandra Hota. It is
the maiden air passenger service between the two cities. On the first day, the
flight started its journey with nine passengers on board. As per the schedule,
the flight will depart Bhubaneswar at 6.10 a.m, and arrive at Raipur at around
7.40 a.m. The return flight from Raipur will begin at 12.15 p.m. and
reach Bhubaneswar at 1.40 p.m. The flight will be available six days a week
except for Sunday, said an official. The fare has been fixed at Rs4,499
(including all taxes) per passenger. The aircraft will have two pilots and one
crew member.
The
national truckers' organisation on Friday temporarily called off their strike,
claiming to have received a communication from the Union Road Transport
Ministry promising a meeting.
The
European Union (EU) on Friday launched tariffs on some $3.2 billion worth of
American goods, in retaliation for tariffs US President Donald Trump's
administration imposed on imported steel and aluminium earlier this month.The Total Investment & Insurance
Solutions
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| Weekly Indices (The Total Investment & Insurance Solutions) |
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