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06
September 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might continue to
slide. The major indices of the Indian stock markets were range-bound on
Thursday and closed with small gains over Wednesday’s close. On the NSE, there
were 1,019 advances, 715 declines and 337 unchanged. The trends of the major
indices in the course of Thursday’s trading are given in the table below:
The
key Indian equity market snapped its six-day losing streak after a largely
volatile trading session on Thursday. According to market observers, a late
recovery in the Indian rupee which breached the 72 per dollar mark for the
first time aided the market to pare its earlier losses. Besides, value buying
and healthy pick-up in healthcare, oil and gas and banking stocks also lifted
investors' sentiments.
Weak
global cues and domestic uncertainty over foreign investment norms in the
equity market pulled the Indian rupee to a new record low of 71.97 per US
dollar, but it later recovered. The rupee opened at 71.45 per US dollar and
settled at a record closing low of 71.75, weaker by 17 paise than its previous
close of 71.58 per greenback. In the intra-day trade, the Indian rupee touched
71.97 per US dollar -- the lowest ever mark -- against the greenback at the
Inter-Bank Foreign Exchange Market. The RBI (Reserve Bank of India) is known to
enter the markets via intermediaries to either sell or buy US dollars to keep
the rupee in a stable orbit.
Salt-to-software
conglomerate Tata is India's most "consumer-focussed" brand, said a
TRA Research report released on Wednesday. FMCG (fast moving consumer goods)
major Patanjali, promoted by yoga guru Ramdev, has been ranked 24th in the list
of 500 brands, it said. The study measures consumers' keenness to buy a brand's
products. The survey was conducted among 6,000 consumer influencers across 16
cities, TRA Research said. 'Closely following (Tata), at second rank is Bajaj,
with just a 12% gap from the leader. At third rank in the list is Nike,"
the report said. Dell was ranked fourth and Apple fifth in the list of
"India's Most Consumer-Focussed Brands 2018". Tata Chemicals shares
closed at Rs743.00, up 0.34% on the BSE.
State-run
Bharat Electronics Ltd (BEL) said it has bagged an order worth Rs9,200 crore
for supply of seven Long Range Surface-to-Air Missile (LRSAM) systems to
Mazagon Dock and Garden Reach Shipbuilders and Engineers. The contract takes
BEL's orderbook to over Rs50,000 crore, the company said in a statement here.
"The company has entered into contracts worth about 9,200 crore with
Mazagon Dock Ltd (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) to
supply LRSAM systems to be fitted onboard seven ships to be built by these two
shipbuilders," it said. According to the company, this is the highest-ever
single value order it has bagged so far. Bharat Electronics shares closed at
Rs91.30, down 3.39% on the BSE.
L&T
Technology Services has executed a definitive agreement to acquire 100% stake
in Bangalore-based Graphene Semiconductor by way of an all cash deal. Graphene
had revenues of Rs66.3 crore for the year ended March 31, 2018. The company’s
shares closed at Rs1,744.80, up 0.63% on the NSE.
TCS
has successfully completed a CRM-based sales transformation program at Maxim
Integrated Products, a leading global manufacturer of analog & mixed-signal
integrated circuit. The solution provides a streamlined and agile digital sales
process to maximize Maxim's sales velocity. The company’s shares closed at
Rs2,074.50, down 0.23% on the NSE.
Aurobindo
Pharma USA Inc, has entered into an agreement to acquire commercial operations
and three manufacturing facilities in USA from Sandoz Inc., USA, a Novartis
Division, for a cash consideration of US$ 0.9 billion (approx. Rs6,439.50
crore). Aurobindo Pharma shares closed at Rs761.95, up 9.33% on the NSE.
Cadila
Healthcare - Zydus receives final approval from the USFDA (US Food & Drug
Administration) for Acyclovir Sodium Injection, an equivalent drug to US RLD -
Zovirax. Acyclovir is an antiviral drug used to treat severe infections caused
by herpes viruses. Cadila Healthcare shares closed at Rs424.35, up 5.57% on the
NSE.
The
top gainers and top losers of the major indices are given in the table below:
 |
| Major Indices (The Total
Investment & Insurance Solutions) |
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