Contact Your Financial Adviser Money Making MC
07
September 2018
I had mentioned in last week’s closing report that GDP growth might propel
Nifty, Sensex higher. The major indices of the Indian stock markets closed on
Friday with losses over previous Friday’s close. The trends in the course of
the week’s trading are given in the table below:
The
major indices of the Indian stock markets suffered a correction on Monday and
closed with losses over Friday’s close. On the NSE, there were 853 advances,
925 declines and 313 unchanged, after opening sharply higher on the back of
healthy April-June GDP.
The
indices trimmed the major gains made earlier in the day, due to weak Asian
markets. Globally, Asian markets traded in the negative territory on concerns of
escalations in the US-China trade war. According to analysts, buying was
witnessed in consumer durables, healthcare and IT (information technology)
stocks.
Global
software major Wipro said it had won a USD1.5 billion (10,500 crore) 10-year
deal from the US-based technology firm, Alight Solutions LLC. "We have won
a 10-year engagement to provide a suite of solutions and services to the
Illinois-based Alight Solutions, a leader in technology-enabled health, wealth,
human resources and finance solutions," said the Bangalore-based IT major
in a statement. Claiming the deal to be its largest win so far, the company
said it would generate $1.5-1.6-billion revenues over the tenure.
The
construction arm of L&T has won orders worth Rs2,654 crore across its businesses.
The Transportation Infra business wins Rs2,095 crore order from MSRDC for 10th
package of Nagpur-Mumbai Expressway. The Heavy Civil Infra business bags Rs559
crore order from MSRDC.
Graphite
India's subsidiary Graphite International BV has signed a definitive Agreement
for investment of upto US$ 18.59 million in cash in General Graphene
Corporation, a US-based unlisted company located in Knoxville, Tennessee, for a
46% stake (approx.) in the company.
The
major indices of the Indian stock markets suffered a correction on Tuesday and
closed with losses over Monday’s close. On the NSE, there were 414 advances,
1,351 declines and 305 unchanged.
The
Reliance Infrastructure Ltd-Astaldi S.p.A.(Italy) consortium has bagged the
project for the northern extension of the Rajiv Gandhi Bandra Worli Sea Link
from Bandra to Versova, an official said here on Tuesday. The MSRDC had floated
the tenders for the construction of the second sea link on an EPC-basis to
build the Versova-Bandra Sea Link, 17.17 km-long, or three times the existing
5.6 km-long RGBWSL. RInfra EPC CEO Arun Gupta said the mega-project will
further propel the company as a premier EPC company in India.
Lupin's
Tarapur API manufacturing facility has completed cGMP inspection carried out by
the US FDA. The inspection closed with one observation of procedural type. The
inspection focused on cGMP compliance and also on the safety of Lupin's
Valsartan, Losartan and Irbesartan APIs.
Budget
carriers IndiGo and GoAir offered low-fare tickets for travel during September
2018 to March 2019. Under the IndiGo offer, fares would start from Rs999 and
the tickets would be available from September 3 to 6, the airline said in a
statement. Persistent Systems has acquired Herald Technologies Inc., an IT (information
technology) services start-up in the US, for a cash consideration of US$ 5.2
million. The acquired business will strengthen Persistent's IP led offerings in
the Healthcare domain and create a number of cross-sell opportunities.
The
major indices of the Indian stock markets were range-bound on Wednesday and
closed with losses over Tuesday’s close. On the NSE, there were 625 advances,
1,125 declines and 321 unchanged.
Centrum
Financial Services Ltd, the NBFC arm of the Centrum Group, signed an agreement
to acquire L&T Finance's Supply Chain Finance business. The business has a
loan book of approximately Rs800 crore with a combined customer base of 800
(approx).
Goldiam
International has received export orders worth Rs140 crore from its
International clients for manufacturing of diamond studded designed gold
jewellery. The order was to be delivered within three months.
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.
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.
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
key Indian equity indices closed in the green on Friday supported by buying
activity in the auto stocks and a recovery in the rupee from its previous
close. The rupee traded around 71.70 per dollar (3.50 p.m.), against the
previous close of 71.99 per greenback. Buying was witnessed in the auto index,
which surged by 501.93 points, followed by metal and healthcare indices.
Software
major Tech Mahindra said it has entered into a partnership with deep-learning
software company Avaamo to develop and deliver conversational Artificial
Intelligence (AI) solutions for global enterprises. Tech Mahindra said it would
evangelise Avaamo's enterprise products and build solutions around platforms in
areas such as the Internet of Things (IoT), AI, and Machine Learning (ML). The
collaboration will help Tech Mahindra harness newer enterprise AI technologies
and serve global markets in countries like the US, Britain, the Netherlands,
Germany, Sweden, Malaysia, Israel, Indonesia and the Philippines, among others.
Tech Mahindra shares closed at Rs770.40, down 0.30% on the BSE.
Indian
software major Infosys said it has formed a joint venture (JV) with global
investment firm Temasek in Singapore to service it and its clients in the
digital domain. "The JV will integrate our team with that of Temasek's
Singapore subsidiary Trusted Source Pte Ltd, which delivers IT services to it
and its clients," said the city-based IT major in a statement here. As per
an agreement signed by the partners on Thursday night, Infosys will hold 60% in
the JV and Temasek 40%. Infosys shares closed at Rs733.15, up 0.71% on the BSE.
Commercial
vehicles major Ashok Leyland Ltd said it has inaugurated its electric vehicle
(EV) facility in its plant at Ennore here. In a statement issued here the
company said it is India's first integrated facility for design, prototyping,
testing, process prototyping and solutions design. "The in-house
facilities include engineering, prototyping and testing for motors, battery
modules and packs and a power electronics lab. Keeping in mind the rapidly
evolving and changing market and technology, it has been conceived as an
in-house start-up facility in order to stay flexible and fast," the
statement said. "In our 70th year, we are laying the foundation for our
future. The EV Centre in Ennore will give us the edge throughout the evolution
of eMobility," Vinod K Dasari, Managing Director was quoted as saying in
the statement. Ashok Leyland shares closed at Rs131.75, up 1.54% on the BSE.The Total Investment & Insurance Solutions
Major Indices (The Total
Investment & Insurance Solutions)
