Contact Your Financial Adviser Money Making MC
30
Aug 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were extremely
overbought. The major indices of the Indian stock markets were range-bound on
Thursday and closed with minor losses over Wednesday’s close. On the NSE, there
were 973 advances, 770 declines and 328 unchanged. The closing values of the major
indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance
Solutions
The key
equity indices traded in the red on Thursday due to a weak rupee along with
profit booking ahead of August futures and options expiry later in the day. The
indices had, however, opened on a positive note, but could not hold on to the
gains. The Indian currency earlier in the day touched its lowest-ever mark of
70.81-82 per US dollar, which dampened the market sentiments. According to
analysts, selling pressure was witnessed in banking stocks, followed by finance
and FMCG (fast moving consumer goods) counters.
Jet
Airways said that it will introduce 28 new flights in the coming month.
"Being a network carrier, Jet Airways' new services -- including industry
firsts as well as a mix of non-stop and one-stop flights -- will strengthen the
airline's footprint, enabling it to meet the rising demand for domestic and international
air travel in emerging cities," the airline said in a statement.
"The new services will also help connect guests with other cities
including metros as well as the airline's global network via its hubs in
Mumbai, Delhi, and Bengaluru." According to the airline, it will introduce
daily flights from Indore to Jodhpur as well as to Vadodara. "In other
notable firsts, Jet Airways is also set to commence flight operations between
Chandigarh and Lucknow, Ahmedabad and Jodhpur as well as Vadodara and Jaipur,"
the statement said. "Jet Airways will be the only airline in the country
operating these routes which will improve connectivity between north India and
central as well as western India." Jet Airways shares closed at Rs286.80,
down 1.54% on the NSE. The Total
Investment & Insurance Solutions
Reliance
Infrastructure (RInfra) said that it has completed the Rs18,800-crore sale of
its Mumbai integrated distribution business to Adani Transmission (ATL), which
will help RInfra reduce its debt by nearly two-thirds to Rs7,500 crore. At a
media briefing following a board meeting to approve the transfer of the Mumbai
power business, RInfra chairman Anil Ambani announced the closure of the deal
which had been signed in December last year. "For Reliance Infrastructure,
this is truly a transformative transaction. The company's gross debt will be
reduced from about Rs22,000 crore to only Rs7,500 crore, representing a steep
debt reduction of 65% in a single transaction," he said. In the past eight
months, the sale has received regulatory approvals from the Competition
Commission of India, shareholders of the company and the Maharashtra
Electricity Regulatory Commission. RInfra shares closed at Rs464.00, up 5.62%
on the NSE.
Diversified
engineering company Greaves Cotton Ltd said it will acquire 80% stake in electric
vehicles (EV) company Ampere Vehicles Pvt Ltd for Rs152.50 crore in two stages.
In a regulatory filing in BSE, Greaves Cotton said it will acquire 67% stake in
Ampere for Rs77 crore in the first phase to be completed by December 2018.
Greaves Cotton can acquire an additional 13% stake in Ampere for Rs75.5 crore
in a span of three years. As to the rationale for acquiring Ampere, Greaves
Cotton said it is to accelerate development of clean energy technology
solutions for last-mile mobility and to address wider range of customer
segments with clean energy mobility solutions. Ampere has posted a revenue of
Rs16 crore during April-July 2018. The Board of Directors of Greaves Cotton
approved the acquisition on Wednesday. "With this strategic acquisition,
we will be able to address a wider range of customer segments with clean energy
mobility solutions. Greaves and Ampere will be a synergistic combination of our
excellence in frugal engineering and manufacturing with a new age electric
mobility solutions company," Nagesh Basavanhalli, MD & CEO, Greaves
Cotton Ltd, was quoted as saying in a statement. Greaves Cotton’s shares closed
at Rs158.30, up 7.58% on the NSE. The
Total Investment & Insurance Solutions
Cadila
Health - Zydus has received the final approval from the USFDA (United States
Food and Drug Administration) to market two products, Gemfibrozil Tablets USP
and Aripiprazole Orally Disintegrating Tablets USP. Gemfibrozil used in
treating high cholesterol, risk of stroke, heart attack and Aripiprazole is an
antipsychotic drug. Cadila Healthcare shares closed at Rs390.00, up 0.74% on
the NSE. The Total Investment &
Insurance Solutions
Tata
Power has commissioned 820.8kWp World’s largest solar rooftop installation on a
cricket stadium, at CCI, Mumbai. This will help to generate 1.12 million units
per year which lead to 25% savings in power consumption cost and curbs CO2
emission of over 840 tonnes annually. Tata Power shares closed at Rs76.15, down
0.98% 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
 |
Major Indices (The Total
Investment & Insurance Solutions)
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