Contact Your Financial Adviser Money Making MC
20
June 2018
I had mentioned in Tuesday’s closing report that Nifty, Sensex continued
to be under pressure. 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. The trends of the major
indices in the course of Wednesday’s trading are given in the table below:
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 major said in a statement here. Infosys shares closed at Rs1,241.45, down
0.01% on the NSE.
Textiles
major Arvind Ltd is looking to take its B2C (business to consumer) segment
which includes fabrics and ready-to-wear garments to Rs1,500 crore in the next
five years from the current Rs700 crore, an official said on Wednesday.
"Under B2C, only men's wear business stands now at Rs400 crore and we are
looking at this to grow to Rs1,000 crore in five years. If you include the
women's wear, the overall segment stands at Rs700 crore and is expected to be
Rs1,500 crore," Susheel Kaul, CEO, Lifestyle Fabrics - Knits and Wovens,
said here. The company's overall textiles business currently stands at Rs6,000
crore. Of this, the knits and woven segment contributes some Rs3,000 crore, he
said on the sidelines of the launch of a festive collection. The company
currently has presence in 10,000 retail touchpoints across India and has 200
exclusive stores. Rather than supplying fabrics, the company is focusing on
"verticalisation" and would get into more manufacturing garments,
Kaul said. "Today, 10% of fabrics that we produce are being converted into
garments by ourselves. Over the next five years, we are looking at increasing
this by 40-50 per cent," he said. Arvind, which sells about 300 million
metres of fabrics and over 30 million pieces of ready to wear apparel, is also
expecting its textiles business to grow to Rs10,000 crore and will be investing
Rs1,500 crore over the next three years, he added. The company’s shares closed
at Rs406.50, up 0.09% on the NSE.
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. InterGlobe
Aviation shares closed at Rs1,136.45, down 7.50% on the NSE. Jet Airways shares
closed at Rs382.50, down 1.51% on the NSE.
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.
Stock markets fell around the world on
Wednesday in the wake of US President Donald Trump's latest tariffs threat to
China. The Dow Jones was down 300 points after Asian and European markets fell
sharply earlier. Trump has threatened to put tariffs on an extra $200bn of
Chinese goods, sparking fears of a trade war. The US President said the tariffs
would be imposed if China "refuses to change its practices". He
condemned China's "unfair practices related to the acquisition of American
intellectual property and technology" and added: "Rather than
altering those practices, it is now threatening United States companies,
workers, and farmers who have done nothing wrong." China's Shanghai
Composite fared the worst in Asia, ending the day down 3.8%. In Europe,
Germany's Dax index was down 1.2% by the close and France's Cac 40 had lost
1.1%. Away from Trump's dispute with China, Russia said it would impose tariffs
on certain American goods in response to the recent tariffs placed on steel and
aluminium imports by the US. The Total
Investment & Insurance Solutions
The
top gainers and top losers of the major indices are given in the table below:
 |
| Major Indices (The Total Investment & Insurance Solutions) |
No comments:
Post a Comment