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17
July 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex were under pressure.
The major indices of the Indian stock markets rallied on Tuesday and closed
with gains over Monday’s close. On the NSE, there were 1,038 advances, 712
declines and 316 unchanged. The trends of the major indices in the course of
Tuesday’s trading are given in the table below:
Slide
in global crude oil prices along with expectations of fund infusion into public
sector banks and value buying lifted the key domestic equity indices higher on
Tuesday. However, broadly negative Asian and European indices capped gains.
According to market observers, buying was witnessed in banking, oil and gas,
automobile and consumer durables stocks.
Airline
major Jet Airways has placed an additional order for 75 jets of Boeing
"737 MAX 8" aircraft during the 2018 Farnborough International
Airshow. In June, the Mumbai-based carrier took delivery of its first MAX, a
"new and improved 737" that delivers a double-digit improvement in
fuel efficiency and passenger comfort. Jet Airways shares closed at Rs314.00,
up 2.66% on the NSE.
Indian
defence PSU Bharat Electronics Ltd (BEL) and Swedish manufacturer Saab signed
an agreement to market radars they co-developed for civilian and defence users,
said the state-run firm on Monday. "The agreement facilitates us to market
long range air surveillance radar and a L-band 3D radar we co-developed for
multiple end-users," said the city-based BEL in a statement here. The
L-band 3D air surveillance radar is used for early detection and tracking of
air and surface targets, and also enables engagement of fire control systems to
neutralise them. "The RAWL-03 radars will be offered in ship-borne and
land-based configuration. Its system is based on Gallium Nitride (GaN) module
technology, with the latest signal processing techniques," said the
statement. The company’s shares closed at Rs104.05, up 3.02% in the NSE. The Total Investment & Insurance Solutions
State-run
Bharat Earth Movers Ltd (BEML) and Indian multinational Larson & Toubro Ltd
(L&T) on Monday signed an agreement to jointly explore export markets for
defence products and systems. "The agreement is aimed at leveraging on the
government's 'Make in India' initiative to add value to developing and
manufacturing defence products and systems for export markets," said the
city-based BEML in a statement here. The companies will also identify areas,
projects and programmes for long-term support for defence and export business.
"The Public-Private Partnership (PPP) model is the way forward to meet the
growing demands of the defence industry. With experience and expertise in the
defence sector, we will address the needs of the Indian market and explore
export markets for defence products and systems," said BEML Chairman
Deepak Kumar Hota. BEML and L&T collaborated and partnered on co-developing
and producing sub-systems involving complex technologies and advanced
engineering equipment such as Sarvatra bridging systems and other vehicular
platform-based systems for the Defence Ministry. "The agreement paves the
way for PPP between two industry leaders. By synergising our capabilities in
system design and integration, manufacturing and marketing, we look forward to
enhancing product range, evolve new products and improve business
prospects," said L&T Director for Defence Jayant D. Patil in the
statement. L & T shares closed at Rs1,290.00, up 0.54% in the NSE.
Commercial
vehicles major Ashok Leyland Ltd on Tuesday said it closed the first quarter of
the current fiscal with a net profit of Rs370.10 crore. In a regulatory filing
in BSE, the company said it posted a net profit of Rs370.10 crore for the
quarter ended on June 30, 2018, up from Rs111.23 crore posted during the
quarter ended on June 30, 2017. The company had earned a total income of
Rs6,300.11 crore for the period under review, up from Rs4,572.87 crore earned
during the quarter ended on June 30, 2017. Ashok Leyland shares closed at
Rs128.70, up 2.39% on the NSE. The Total
Investment & Insurance Solutions
The
International Monetary Fund (IMF) cut India's growth projections for this
fiscal year to 7.3% and for the next to 7.5% on Monday, although the country
will still retain its top spot in the global growth league. But "India's
growth remains quite robust into the future; it is down but growing very
strongly", said Maury Obstfeld, the director of the IMF's Research
Department. The World Economic Outlook (WEO) Update reduced by 0.1% the
projections made in April for this year and by 0.3% for 2019. At the news
conference to release the report in Washington, Obstfeld explained the
downgrade by saying that while the main factor is the rise in oil prices,
"the general tightening in general global financial conditions is (also)
playing a role in affecting India's growth". Gian Maria Milesi-Ferreti,
the deputy director of the Research Department, added that another element that
went into the downgrade was "the rising inflationary pressures".
"Monetary policy has tightened; it's a bit tighter than under our forecast
in April and that adds to oil and tighter global financial conditions in taking
a little bit off growth for next year," he said. The Total Investment & Insurance Solutions
Blue
Star won the Engineering Facility Management (EFM) orders from Airports and
Metro rail segments. The approximate total of these orders was Rs25 crore. The
company’s shares closed at Rs660.40, down 0.05% on the NSE.
NBCC
has received in principle approval from Ministry of Commerce & Industry,
Government of India for Conceptualizing, Designing & Construction of
"India Pavilion at World Expo2020 to be held in Dubai from Oct-2020 to
Apr-2021". The approximate project cost is Rs400 crore. The company’s
shares closed at Rs63.00, up 2.44% on the NSE.
Cadila
Health - Zydus has received final approval from the USFDA to market Clindamycin
Phosphate Topical Solution USP, an antibiotic used to treat acne and helps to
decrease the number of acne lesions. The drug will be manufactured at group's
Topical facility at Ahmedabad. Cadila Healthcare shares closed at Rs361.80, up
3.45% on the NSE.
Steel
Strips Wheels bagged exports order of 18,000 Steel wheels from European
aftermarket. The products are to be supplied from Chennai plant in August 2018.
The company’s shares closed at Rs1,230.00, down 0.08% on the NSE.
Glenmark
Pharma has received ANDA approval for Colesevelam Hydrochloride for Oral
Suspension, a generic version of Welchol® for Oral Suspension of Daiichi Sankyo
Inc. Welchol® received annual sales of approx. US$ 73 million for the period
ending May 2018. The company’s shares closed at Rs565.10, up 2.38% on the NSE. The Total Investment & Insurance Solutions
Adani
Ports -Adani Logistics, a subsidiary company, has signed an agreement with NYK
Auto Logistics to form a JV (joint venture) which specializes in transportation
of finished vehicles using Automobile Freight Trains (AFT). Based on market
trends, the JV will have 25 AFT in operation in 3 years. The company’s shares
closed at Rs366.00, up 1.65% on the NSE.
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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