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14
December 2018
I had
mentioned in last week’s closing report that Nifty, Sensex might try to rally.
The major indices of the Indian stock markets were volatile during the week and
closed on Friday with gains over last Friday’s close. The trends of the major
indices in the course of the week’s trading are given in the table below: The Total Investment & Insurance
Solutions
The
major indices of the Indian stock markets suffered a sharp correction on Monday
and closed with losses over Friday’s close. On the NSE, there were 339
advances, 1,382 declines and 350 unchanged. The Total Investment & Insurance Solutions
Negative
global markets along with caution ahead of the results of Assembly elections in
five states and a rise in crude oil prices suppressed the key Indian equities
indices during Monday's trade session. The key indices—the S&P BSE Sensex
and NSE Nifty50 - had a gap-down opening and subsequently shed over 655 points
and 205 points each on an intra-day low basis. The Total Investment & Insurance Solutions
According
to market observers, selling pressure in banking, consumer goods, oil and gas
and capital goods stocks along with continuous outflow of foreign funds
accelerated the downward trajectory of the equity indices. The BSE market
breadth was bearish with 1,787 declines and 546 advances. The Total Investment & Insurance
Solutions
Lupin's
Pithampur (Unit-3) facility received EIR from US FDA (Food and Drug
Administration). This was a Pre-approval inspection for Albuterol Sulfate
Inhalation product. Lupin's Pithampur (Unit 3) facility manufactures
Dermatological Products, Dry Product Inhalers and Metered Dose Inhalers.
Escorts
and Kubato Corporation, Japan, has entered into a global JV (joint venture)
agreement with an initial investment of Rs300 crore for technology
collaboration and joint manufacturing of high-end, value-oriented utility
tractor range. This is to establish a new facility with initial capacity of
50,000 units.
Alembic
Pharmaceuticals has received approval from the US FDA for its ANDA -
Olopatadine Hydrochloride Ophthalmic Solution USP. The drug is indicated for
the treatment of the signs and symptoms of allergic conjunctivitis.
Larsen
& Toubro reported that its Power T&D business has won orders worth
Rs2,547 crore. The orders are for 220kV Transmission line in Tanzania, 230kV
Substation in Thailand, 132kV Substations and associated Transmission Lines in
Jharkhand and 220kV & 132kV Transmission lines were West Bengal.
The
major indices of the Indian stock markets fell sharply in the morning and made
a dramatic rally on Tuesday and closed with gains over Monday’s close. On the
NSE, there were 1,249 advances, 454 declines and 356 unchanged.
The
market had lost significantly during the morning trade session on the sudden resignation
by RBI Governor Urjit Patel and early election trends which showed BJP losing
in Rajasthan and Chattisgarh state elections and trailing Congress in Madhya
Pradesh.
Software
major Tech Mahindra on Tuesday announced key leadership appointments in India
to accelerate its digital transformation.
TCS and
Singapore Airlines have launched a co-developed solution for Airline industry
to digitally transform ground operations. TCS's Intelligent Airline Operations
(IAO) solution would help Airlines improve Operational efficiency and enrich
customer experience.
Cadila
Healthcare reported that Liva Pharmaceuticals, its subsidiary, has received the
approval from the USFDA (Food and Drug Administration) for its supplemental
ANDA - Ranitidine Injection USP. It is used to treat stomach and duodenal
(intestinal) ulcers, and prevent them from recurring. The Total Investment & Insurance Solutions
Dr.Reddy's
Laboratories launched the OTC (over the counter) store brand equivalent of
Prilosec OTC® - Omeprazole Delayed-Release Tablets in US. It is a proton pump
inhibitor used to treat frequent heartburn occurring two or more days per week
in adults.
The
major indices of the Indian stock markets rallied on Wednesday and closed with
gain over Tuesday’s close. On the NSE, there were 1,418 advances, 317 declines
and 328 unchanged. The Total Investment
& Insurance Solutions
The key
equity indices rose over 1.75% during trading on Wednesday, led by gains in
financials and auto stocks. According to analysts, the markets ignored the
sudden resignation of Urjit Patel, perhaps because it might lead to a more
liberal monetary policy with the appointment of Shaktikanta Das as the new
Reserve Bank of India Governor. All the sectors on the BSE, except the energy
stocks, traded in the green. Also key sectors finance and banking outperformed
the benchmark index.
Positive
Asian markets have contributed to today’s gains in the domestic market, pointed
out market analysts. The Total
Investment & Insurance Solutions
The
state government elections’ results have given new energy to the bulls in the
domestic stock markets. However, there is a last word of caution from analysts
on Lok Sabha 2019 election results - a possible hung Parliament in 2019 will be
a concern to the market and make it bearish. The Total Investment & Insurance Solutions
Ramco
Systems has secured another deal from a leading adversary air (ADAIR) services
provider to the U.S. Defense Forces, to manage its fleet of fighter aircraft
used for highly complex training fleet and Defense contract requirements.
NBCC
India has received a LoA (Letter of Assurance) of work from Ministry of Skill
Development and Entrepreneurship, Government of India for construction of
office building at New Delhi. The estimated cost of project is approximately
Rs172 crore.
Aurobindo
Pharma's subsidiary Helix Healthcare, Netherlands, has entered into a JV (joint
venture) agreement with Shandong Luoxin Pharma, China to setup facilities to
manufacture nebuliser inhaler and other products for China, US and EU markets.
Helix is likely to invest $15 Mn and Luoxin will invest $35 Mn.
The
major indices of the Indian stock markets made a small rally on Thursday and
closed with gains over Wednesday’s close. On the NSE, there were 1,017
advances, 671 declines and 374 unchanged. The Total Investment & Insurance Solutions
The
market was supported by buying in banking stocks. Sentiments were upbeat as the
newly appointed Reserve Bank Governor Shaktikanta Das held a meeting with heads
of Mumbai-based public sector banks. The Nifty PSU Bank index gained 1.66%.
Banking stocks also rose as RBI is scheduled to purchase government securities
and infuse liquidity worth Rs10,000 crore on Thursday. All the sectoral indices
on BSE and NSE were in the green. With inflation cooling off, it will
give way to interest rate cut. An interest rate cut which will lead to higher
lending can be expected, pointed out market analysts.
Steel
Strips Wheels has bagged an order for 90,000 truck steel wheels for Truck &
Trailer Aftermarket in USA to be delivered in four months. The total revenue
generated from this order would be over US$ 4 million.
Ashoka
Buildcon emerged as the Lowest Bidder for the Project of Rural Electrification
Works of Package-4 in Jharkhand under Jharkhand Sampurna Bijli Achchhadan
Yojana (JSBAY) Phase-II. The Bid value of the project is Rs214.21 crore with a
completion period of 18 months. The
Total Investment & Insurance Solutions
Sequent
Scientific reported that SeQuent Research Limited, a 100% subsidiary of the
company has received Establishment Inspection Report (EIR) from USFDA (Food and
Drug Administration) for its GLP compliant, Analytical and bio analytical
services laboratory at Mangalore. The
Total Investment & Insurance Solutions
The
Sensex and Nifty on Friday opened with slight gains and traded completely flat
thoughout the day. The financial stocks witnessed selling pressure while
telecom, IT (information technology) and realty counters gained. Reserve Bank
of India's (RBI) board meeting and the release of key macro-economic data were
due on Friday.
State-owned
Indian Oil Corp announced a buyback of 3.06% equity shares at a price of Rs149
per stock for a consideration not exceeding Rs4,435 crore. The buyback decision
was taken by the company's Board in its meeting held on Thursday. "Buyback
of equity shares of the company not exceeding 29,76,51,006 equity shares being
approximately 3.06% of the total paid up equity share capital of the company at
a price of Rs149 per equity share payable in cash for an aggregate
consideration not exceeding Rs4,435 crore...," the company said in a
regulatory filing. "The public announcement setting out the process,
timelines and other requisite details will be released in due course in
accordance with the Buyback Regulations."
In
another development, the company's Board declared an interim dividend of
67.5%"i.e. Rs6.75 per equity share of face value of Rs10 each for the
financial year 2018-19". "The dividend will be credited to the
account of the shareholders or the dividend warrant in respect thereof will be
dispatched on or before 31st December 2018," the filing said. Indian Oil
Corporation shares closed at Rs141.30, up 2.84% on the NSE.
Global
software major Infosys said it has formed a joint venture (JV) with Hitachi
Ltd, Panasonic Corp and Pasona Inc to enhance its presence in Japan. "The
company will acquire 81% equity stake in Hitachi's subsidiary -- Hitachi
Procurement Service Co Ltd, in which Panasonic and Pasona will be minority
shareholders," said the city-based IT (information technology) major in a
statement here. In a regulatory filing on the BSE, the company said its
Singapore-based Infosys Consulting Pte Ltd subsidiary entered into an agreement
with the three to buy the majority stake (81%) in all-cash deal for $24 million
(Rs175 crore) on or before April 1, 2019. The Total Investment & Insurance Solutions
"Hitachi
will transfer 2% each to Panasonic and Pasona and hold the remaining 15%,"
said the filing. The Tokyo-based JV will help clients navigate their digital
journey and accelerate business process transformation by leveraging digital
procurement platforms. Infosys shares closed at Rs706.15, up 1.20% on the NSE.The Total Investment & Insurance
Solutions
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Weekly Indices (The Total
Investment & Insurance Solutions)
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