Contact Your Financial Adviser Money Making MC
7
June 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might head higher.
The major indices of the Indian stock markets rallied on Thursday and closed
with gains over Wednesday’s close. On the NSE, there were 1,377 advances, 363
declines and 316 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
The
Reserve Bank of India’s decision to hike the repo rate by 25 basis points on
Wednesday has boosted investors' sentiments leading the key Indian equity
indices surge during trading on Thursday. The decision of the Monetary Policy
Committee (MPC) is consistent with the neutral stance of monetary policy in
consonance with the objective of achieving the medium-term target for consumer
price index (CPI) inflation of 4% within a band of +/- 2%," RBI said. This
is definitely good news for the bulls in the Indian stock markets.
India
Inc welcomed the "neutral" stance taken by the Reserve Bank of India
(RBI) on a future rate hike trajectory, along with its reform measures for the
realty, bond and banking sectors. The Total Investment & Insurance
Solutions
Telecom
service provider Bharti Airtel on Thursday announced that its direct-broadcast
satellite service "Airtel TV" application has been downloaded by more
than 50 million Android device users. The app currently offers over 375 LIVE TV
channels along with over 10,000 movies and popular shows. "We are thrilled
at achieving this milestone and being able to scale-up the app so
rapidly," Sameer Batra, CEO-Content and Apps, Bharti Airtel, said in a
statement. Airtel TV has also partnered with content-providers such as Eros
Now, SonyLIV, HOOQ, Hotstar, Amazon and AltBalaji. "We will continue to
expand our content partnerships and bring more exciting innovations to our
users," Batra added. Bharti Airtel shares closed at Rs379.95, down 0.11%
on the BSE.
Global
Foreign Direct Investment (FDI) flows fell by 23% in 2017 to $1.43 trillion in
contrast to the global accelerated growth in gross domestic product (GDP) and
trade registered last year, said the United Nations Conference on Trade and
Development (UNCTAD) on Wednesday in its new report. This could be a dampener
for bulls in emerging markets including the Indian stock markets.
Hindustan
Construction Co (HCC) announced that its joint venture (JV) with MAX Group of
Bangladesh has won a $110 million (Rs737 crore) contract from Russia for the
construction of the first nuclear power plant in Bangladesh. Commenting on the
development, HCC Group CEO Arjun Dhawan said a statement: "HCC has become
the first Indian company to participate in the international civil nuclear
market." HCC shares closed at Rs14.92, up 4.92% on the BSE.
IT
major Tata Consultancy Services (TCS), which had given 20,000 job offers in
India in this fiscal, will hire people on campus on demand basis, an official
said on Wednesday. "Everybody is becoming more and more conscious of cost.
We can't hire much in advance. Everyone is working on how to optimise people
that you hired and train them and deploy. Given the whole thing is becoming
agile, you have to have your hiring also agile.
"You
have to hire on demand. Hiring is becoming more on-demand basis,"
company's Executive Vice President and Global Head, Human Resources, Ajoyendra
Mukherjee told reporters here. "In terms of campus hiring, we have given
offers to 20,000 students who will be joining in this fiscal," he said.
Last year, net addition in the workforce in the company was 7,775 in spite of
the growth the firm had, he said. TCS shares closed at Rs1,734.60, up 0.43% 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 closing values of the major Asian indices
are given in the table below: The Total
Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
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