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12 July 2018
I had mentioned in Wednesday’s closing report that Nifty, Sensex might pause for breath. The major indices of the Indian stock markets rallied on Thursday and closed with gains over Wednesday’s close. On the NSE, there were 754 advances, 981 declines and 327 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
The benchmark BSE Sensex touched an all-time high of 36,699.53 points on Thursday, tracking gains in the Asian markets. The previous record level of the Sensex was of 36,443.9 points on January 29, 2018. In line with its bullish trend, the wider Nifty50 on the National Stock Exchange traded over the 11,000 mark during the day. In the Asian markets, investor sentiments were boosted after reports on Wednesday said China and the US may resume talks to ease the ongoing trade tensions. The Total Investment & Insurance Solutions
India's retail inflation for June has gone up to 5% compared to 4.87% in May 2018, according to data released by the Central Statistics Office on Monday.
Protesting against the Department of Telecommunications' (DoT) discriminatory treatment regarding bank guarantee, Reliance Communications (RCOM) has written to the telecom secretary flagging the issue, according to sources. "RCOM has protested to DoT against discriminatory treatment in favour of Vodafone-Idea on bank guarantees (BGs). It said DoT is still challenging return of RCOM OTSC (one-time spectrum charge) bank guarantees of Rs2,000 crore despite a clear-cut TDSAT order," a source said. RCOM said in the letter that no bank guarantee was sought by DoT regarding Vodafone OTSC demands on identical facts, prior to the merger approval. The company said Vodafone OTSC demands are Rs9,000 crore, which is more than four times the RCOM OTSC demands. "RCOM said DoT is adopting unfair, inconsistent and discriminatory approach," sources said. The company’s shares closed at Rs13.55, down 0.73% on the NSE.
Bharti Airtel - Airtel Payments Bank has received requisite approvals from RBI (Reserve Bank of India) to start on-boarding new customers. Also, it has been permitted by the UIDAI (Unique Identification Authority of India) to resume the on-boarding of customers using Aadhaar based e-KYC (Know Your Customer). The company’s shares closed at Rs362.25, up 0.07% on the NSE.
Cadila Health - Zydus Hopsira Oncology Private Limited, a 50:50 joint venture company between Zydus Cadila and Hospira Inc., USA (now part of Pfizer Group), has received EIR from FDA for its manufacturing facility at Ahmedabad. The inspection was closed and got VAI classification. Lupin has received FDA approval for generic Nitrofurantoin Capsules USP, 50 mg and 100 mg, a generic version of Alvogen Malta Operations's Macrodantin® Capsules. The drug is used for the treatment of urinary tract infections. The brand had approximate annual US sales of US$ 27 Mn. Lupin shares closed at Rs885.00, down 1.72% on the NSE.
Advanced Enzymes has obtained organic certification from the Control Union, an international inspection and certification body under the NPOP. The certification has been received for a range of enzymes to be used as inputs for organic processing/ production of food and as feed additives. The company’s shares closed at Rs214.70, down 1.04% on the NSE.
Larsen & Toubro has won orders worth Rs2,388 crore. The order was secured by Water & Effluent Treatment division from Madhya Pradesh Jal Nigam Maryadit for development of 11,272 km of transmission & distribution water pipelines covering 1,954 villages. The company’s shares closed at Rs1,299.20, up 1.92% on the NSE.
Alembic Pharma has received tentative approval from USFDA for its ANDA Ticagrelor Tablets, a therapeutic equivalent to AstraZeneca's Brilinta Tablets. The drug is used to reduce cardiac-related issues in patients with ACS or MI. The drug has an estimated annual US market size of US$ 625 million. The company’s shares closed at Rs535.00, up 0.80% on the NSE.
HIL Limited, through its subsidiary in Germany to acquire 100% stake in Parador Holding GmbH, a specialist supplier of premium quality flooring solutions based in Coesfield, Germany, for a total cash consideration of EUR 72.3 million (approx. Rs580.83 crore). HIL shares closed at Rs1,860.00, down 0.37% on the NSE.
Cipla's subsidiary in South Africa has signed an agreement to acquire 100% stake in Mirren (Pty) Limited, South Africa for a cash consideration of approximately Rs228.75 crore. The acquisition was to strengthen its market position and to accelerate growth within the OTC (over the counter) space. Cipla shares closed at Rs634.00, up 1.39% on the NSE. 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
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| Major Indices (The Total Investment & Insurance Solutions) |
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