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13
July 2018
I had
mentioned in last week’s closing report that Nifty, Sensex were struggling to
rally. The major indices of the Indian stock markets rallied during the week
and closed on Friday with significant 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
major indices of the Indian stock markets rallied on Monday and closed with
gains over Friday’s close. On the NSE, there were 1,197 advances, 544 declines
and 337 unchanged. The Total Investment
& Insurance Solutions
Firm
Asian cues lifted the key Indian equity indices on Monday. According to market
analysts, investor sentiments in the Asian markets were supported by a healthy
US jobs data released on Friday. In the domestic indices, they said, buying was
witnessed in the banking, auto and metal stocks. Hiring activity increased by
9% in June 2018, on a year-on-year basis, according to a jobs site which tracks
the numbers. The Naukri JobSpeak Index for June 2018 was at 2,047, marking a
nine per cent increase in hiring activity from June 2017. The index was at
1,885 in June 2017. According to naukri.com, the index has been calculated
based on job listings added to the site month-on-month. July 2008 has been
taken as the base month with a score of 1,000. The auto and ancillary sector
witnessed the highest growth of 26% in hiring, followed by telecom industry
where recruitment grew by 23% in June, said a statement from the site. Hiring
in the real estate segment rose by 19% in June on a month-on-month basis, and
in banking and financial services, hiring was up 12%.
In
corporate news, Dr Reddy's Laboratories have entered into a distribution and
co-promotion agreement for Briviact®, a brand of brivaracetam. The agreement
has granted Dr Reddy's the exclusive right to distribute Briviact® in India.
Briviact® is used in the treatment of partial-onset seizures in epilepsy
patients.
Cadila
Healthcare - Zydus received tentative approval from the USFDA to market
Deferasirox Tablets for Oral Suspension, a drug used to treat high levels of
iron in the body caused by multiple blood transfusion. Deferasirox Tablets has
an est. annual sale of US$ 150.3 million. The Total Investment & Insurance Solutions
The
major indices of the Indian stock markets rallied again on Tuesday and closed
with gains over Monday’s close. On the NSE, there were 1,193 advances, 525
declines and 345 unchanged. The Total
Investment & Insurance Solutions
Taking
stock of coal supply situation in the country, Union Coal Minister Piyush Goyal
asked Coal India to focus on meeting coal demand, particularly that of power
sector. During a review meeting held here with officials, he urged "better
coordination between Coal India and Railways to ramp up supplies", sources
said. Coal India was also asked to work out on planning for next fiscal's
production and supply in an objective to better coordination with Railways, the
sources added. In fact, Coal India had recently said an action plan was drawn
to prioritise coal supplies to power stations lest they turn critical due to
non-availability of coal. The miner despatched 122.84 million tonnes of coal to
the power sector during the first quarter (April-June 2018) as compared to despatch
of 106.46 million tonnes same period last year.
In
corporate news, Steel Strips Wheels bagged the largest exports order for Truck
& Trailer Aftermarket from USA for supply of 110,000 truck steel Wheels in
five months. The wheels would be supplied from its Chennai plant from next
month onwards. The Total
Investment & Insurance Solutions
Astral
Poly Technik has approved acquisition of 51% equity share of Rex Polyextrusion
Pvt. Ltd. for Rs75.22 crore. Balance 49% of Rex Polyextrusion is to merge with
Astral in exchange of equity shares. Astral to issue 15,453 shares for
every 10 shares of Rex. The Total
Investment & Insurance Solutions
The
major indices of the Indian stock markets were range-bound on Wednesday and
ended flat over Tuesday’s close. On the NSE, there were 655 advances, 1,080
declines and 329 unchanged. The Total
Investment & Insurance Solutions
Jubilant
FoodWorks - Dunkin’ Donuts and Nestlé India will partner to co-develop three
new donuts - Chocoholic, Choco-crisp and Choc-o-Choc, made with Kit-Kat,
Bar-One & Munch-Nuts. The 3 donuts will be a part of Dunkin’s Signature
Donut category and would be priced at Rs89.
Ratnamani
Metals & Tubes has received a new domestic order for supply of coated CS
Pipe valued at Rs185 crore, to be completed by March, 2019.
The
major indices of the Indian stock markets rallied on Thursday and closed with
gains over Wednesday’s close. On the NSE, there were 754 advances, 981 declines
and 327 unchanged. The Total Investment
& Insurance Solutions
The
benchmark BSE Sensex touched an all-time high of 36,699.53 points on Thursday,
tracking gains in the Asian markets. The previous record level of the Sensex
was of 36,443.9 points on January 29, 2018. In line with its bullish trend, the
wider Nifty50 on the National Stock Exchange traded over the 11,000 mark during
the day. In the Asian markets, investor sentiments were boosted after
reports on Wednesday said China and the US may resume talks to ease the ongoing
trade tensions. The Total Investment
& Insurance Solutions
India's
retail inflation for June has gone up to 5% compared to 4.87% in May 2018,
according to data released by the Central Statistics Office on Monday.
Cadila
Health - Zydus Hopsira Oncology Private Limited, a 50:50 joint venture company
between Zydus Cadila and Hospira Inc., USA (now part of Pfizer Group), has
received EIR from FDA for its manufacturing facility at Ahmedabad. The
inspection was closed and got VAI classification. Lupin has received FDA
approval for generic Nitrofurantoin Capsules USP, 50 mg and 100 mg, a generic
version of Alvogen Malta Operations's Macrodantin® Capsules. The drug is used
for the treatment of urinary tract infections. The brand had approximate annual
US sales of US$ 27 Mn. The Total
Investment & Insurance Solutions
On
Friday, the major indices of the Indian stock markets ended flat. On the NSE,
there were 463 advances, 1,273 declines and 327 unchanged.
The BSE
Sensex hit a fresh record high of 36,740 points in the morning session on
Friday.
The
board of HCL Technologies approved a buyback of 3.63 crore equity shares at a
price of Rs1,100 per equity share for an aggregate amount not exceeding Rs4,000
crore. HCL Technologies shares closed at Rs983.10, down 2.28% on the NSE. The Total Investment & Insurance
Solutions
Infosys
Q1 FY19 Results have been declared. Profit after Tax declined 2.1%
quarter-on-quarter and revenue increased 12% year-on-year. The company
recommended a bonus issue in the ratio 1:1. The company added four 100+ million
dollar clients from the previous quarter. Revenues from North America declined,
while 60% of the revenue is from this region. Infosys shares closed at
Rs1,323.00, up 2.21% on the NSE.
Bajaj
Corp Q1 FY19 standalone results have been declared. Revenues were at Rs221.4
crore (Rs197.42 crore in the same quarter of the previous year up 12.1%
year-on-year). Profit after tax was at Rs53.76 crore (Rs54.97 crore in the same
quarter of the previous year down 2.2% year-on-year). Earnings per share were
at Rs3.65 (Rs3.73 in the same quarter of the previous year).The company’s
shares closed at Rs411.00, down 0.56% on the NSE.The Total Investment & Insurance Solutions
Weekly Indices (The Total
Investment & Insurance Solutions)
