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18
June 2018
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. According to
market analysts, selling was there in the metal, consumer durables and capital
goods stocks, however, buying activity in the oil and gas, auto and banking
counters limited the decline. On the NSE, there were 550 advances, 1,177
declines and 342 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
Truck
owners and operators launched an indefinite nationwide strike on Monday against
increasing diesel prices and a sharp hike of third party insurance premium. The Total Investment & Insurance Solutions
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.
Indian Hotels’ shares closed at Rs134.90, up 1.89% on the NSE.
United
Bank of India (UBI), which referred 30 stressed accounts with an aggregated
exposure of Rs5,961 crore to National Company Law Tribunal (NCLT) in 2017-18
(FY18), is betting on the resolution of bad loan accounts to improve its net
profit, its report said. "Thirty accounts in which the bank is having
exposure aggregating Rs5,951 crore were referred to NCLT. Resolution has taken
place recently in one account in which, the bank received Rs488.23 crore
against an outstanding balance of Rs628.42 crore," bank's Managing
Director and CEO Pawan Bajaj said in the latest annual report. "It is
expected the resolution in more accounts would take place by end of this
fiscal, which would bring down the gross and net NPA (non-performing asset),
thus improving the bottomline of the bank," he said. The UBI said despite
constant follow up with the recalcitrant borrowers, monitoring of stressed
assets and tough measures in hard account, the bank was not able to contain
further growth in non-performing asset level which reached a level of Rs16,552
crore, 24.1% of gross advances. It has experienced deterioration in its asset
quality in the March quarter of FY 18 largely due to the revised framework of
resolution of stressed assets introduced by the Reserve Bank of India,
accounting for about 65 per cent of the fourth quarter slippages, the report
said. UBI shares closed at Rs11.70, down 0.85% on the NSE.
Fortis
Healthcare (FHL) on Friday 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". FHL shares closed at Rs137.95,
down 0.68% on the NSE. The Total Investment & Insurance
Solutions
High
oil prices widened India's May trade deficit even as exports rose by 20.18% to $28.86
billion from $24.01 billion worth of merchandise shipped out during the
corresponding month of last year.
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 will be operational on all days
except Saturday, it added. SpiceJet further said bookings for the new flights
are currently open. SpiceJet shares closed at Rs114.10, up 2.47% on the BSE.
The
Banks Board Bureau (BBB) has recommended 22 general managers to be promoted as
Executive Directors at various state-run banks, according to an announcement by
the BBB. S & P BSE Bankex closed at 29,593.90, up 0.12% on the BSE. The Total Investment & Insurance Solutions
The
top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions
 |
| Major Indices
(The Total Investment & Insurance Solutions) |
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