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01
November 2018
I had
mentioned in Wednesday’s report that Nifty, Sensex might continue to rise. The
major indices of the Indian stock markets were range-bound on Thursday and
ended flat over Wednesday’s close. On the NSE, there were 1,134 advances, 596
declines and 329 unchanged. The trends of the major indices in the course of
Thursday’s trading are given in the table below: The Total Investment & Insurance Solutions
Despite
firm global cues and a slight recovery in the domestic currency, the key equity
indices traded flat during the afternoon session of trade on Thursday as
investors remained cautious ahead of key macro-economic data release and
tension between the RBI and government. Export-oriented stocks, IT (information
technology) and healthcare struggled as the rupee recovered to around 73.79 a
US dollar from Wednesday's close of 73.95. Buying was witnessed in banking,
finance and capital goods counters on BSE.
A faster rise in demand accelerated the pace
of India's manufacturing sector output in October, key economic data released
on Thursday showed. According to the Nikkei India Manufacturing Purchasing
Managers' Index (PMI), the composite indicator of manufacturing performance
increased to 53.1, from 52.2 in September. An index reading of above 50
indicates an overall increase in economic activity, or growth, and below 50 an
overall decrease. The Total Investment
& Insurance Solutions
Revenue
collections under the Goods and Services Tax (GST) crossed the Rs 1 lakh crore
mark in October, Finance Minister Arun Jaitley said on Thursday.
HCL Technologies (HCL) on Thursday announced
its collaboration with California-based Pivotal Software to help enterprises
create a new generation of Cloud-native applications. As part of the
collaboration, HCL will use Pivotal's software offerings and Platform
Acceleration Lab (PAL), the company said in a statement. The company’s shares
closed at Rs1,015.50, down 3.80% on the NSE. The Total Investment & Insurance Solutions
Automobile major Maruti Suzuki India's
overall sales, including exports for October, inched up by 0.2%. The company
said on Thursday that total sales rose to 146,766 units in the month, compared
to 146,446 units sold in the year-ago period. "Maruti Suzuki India Ltd
sold a total of 146,766 units in October. This includes 138,100 units in
domestic market and 8,666 units of exports," the company said in a
statement. In the domestic market, it sold 138,100 units during October, up by
1.5% from 136,000 units sold in the corresponding month in 2017. However, the
carmaker exported 8,666 units, registering a decline of 17% from 10,466 units
shipped out in the year-ago month. Maruti Suzuki shares closed at Rs6,702.00,
up 1.29% on the NSE. The Total
Investment & Insurance Solutions
Jet Airways said that it has received notices
for payment "delays or defaults" from some aircraft lessors.
"Whilst the company is in receipt of notices for payment delays or
defaults from few aircraft lessors, they are mindful of the challenges
currently faced by the Indian aviation industry and they have been supportive
of the company's efforts," the airline said in a BSE filing. "We also
wish to clarify that the company is current on its payments to Airports
Authority of India (AAI) and no show-cause notice has been received by the
company from AAI." The airline is financially suffering from an increase
in Brent fuel price by more than 36 per cent, along with a weak rupee and a
mismatch between high fuel prices and low fares primarily undermined its
financial performance during the quarter under review. Jet Airways also plans
to go in for a cost reduction programme to reduce expenses totalling Rs2,000
crore over two years. In addition, the company has decided for a
"balance-sheet restructuring" which entails capital infusion and debt
reduction. The company’s shares closed at Rs225.65, up 1.69% on the NSE. The Total Investment & Insurance
Solutions
Automobile major Tata Motors reported a
standalone net profit of Rs109.14 crore during the quarter ended September 30,
on the back of rise in sales. During the same period last year, the company
reported a net loss of Rs283.37 crore, Tata Motors said in a statement. Total
standalone income during the second quarter of the financial year 2018-19 was
Rs18,102.56 crore, 33.77% higher from Rs13,532.64 crore earned during the
corresponding period of FY18. It further said its total revenue from operations
during the period under review rose by 32.85% to Rs 17,644.13 crore. In Q2
FY19, wholesales (including exports) grew 25% to 190,283 units with broad-based
growth across the entire portfolio. Tata Motors shares closed at Rs178.75, up
0.06% on the BSE. The Total Investment
& Insurance Solutions
Global
IT company Tata Consultancy Services on Wednesday announced the acquisition of
W12 Studios, an award-winning digital design studio based in London, for an
undisclosed sum. TCS shares closed at Rs1,934.60, down 0.15% on the BSE.
State-run
Canara Bank reported Rs300-crore net profit, registering 15.4% annual growth
for second quarter of fiscal 2018-19 from Rs260 crore in the same period a year
ago. Canara Bank shares closed at Rs251.75, down 3.89% on the BSE.
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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