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3
May 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might go sideways.
The major indices of the Indian stock markets were range-bound on Thursday and
closed with small losses over Wednesday’s close. On the NSE, there were 460
advances, 1,264 declines and 320 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
The
key equity indices traded in the negative territory on Thursday following a
decline in the global markets. Selling pressure on the capital goods, consumer
durables and auto stocks also weighed on the indices. Asian shares opened in
the red ahead of the Sino-US trade talks. The US Federal Reserve has held
interest rates unchanged at its latest monetary policy review, while indicating
that inflation in America is rising towards the central bank's medium-term
target as a signal to investors of possible rate hikes later in 2018.
Demand
for gold in India for January-March quarter (first quarter) of 2018 was down by
12% at 115.6 tonne compared to overall Q1 demand for 2017 due to rising gold
prices, exaggerated by a weakening rupee, a World Gold Council statement said
here on Thursday. This is likely to encourage the long term bullish trends in
the Indian stock markets. The Total
Investment & Insurance Solutions
Sugar
production in the country crossed a record 31 million tonnes mark this year and
the total production will be around 32 million tonnes when the season ends, the
Indian Sugar Mills Association (ISMA) said on Thursday. EID Parry India shares
closed at Rs272.90, down 0.36% on the NSE.
Fast
moving consumer goods (FMCG) major Wipro Consumer Care and Lighting plans to
add two manufacturing locations, one in Andhra Pradesh, and the other in
Guangzhou, China as the company's revenue crossed $1 billion-mark in 2017-18, a
statement said here on Thursday. The two manufacturing units are expected to be
operational in FY20. The statement said, the business crossed Rs6,630 crore
with industry-leading growth both in India and overseas. "The key driver
of growth this year was our ability to handle the GST transition in India. We
proactively engaged with our distributors and partners and clarified their
doubts about GST. This gave us momentum in June - July 2017, leading to 18 per
cent growth in the India business in FY18. Distribution also improved
especially post GST implementation. Santoor and Garnet LED brands did
particularly well," said Vineet Agrawal, CEO, Wipro Consumer Care and
Lighting. Wipro Consumer Care clocked 50% of its revenue from International
markets where Malaysia crossed $145 million, followed by China at $120 million.
Indonesia, which had a sluggish first half also bounced back with a
double-digit growth in the second half of 2017-18, the statement said. Among
its brand portfolio, Santoor is the biggest with a turnover of about $300
million, followed by Enchanteur with $150 million. It has several $50 million
plus brands with Yardley, Romano, Bio Essence, Safi and Garnett LEDs.
"Home Care, Lighting and Digital are going to be some of the key thrust
areas for us," said Agrawal. Wipro Limited shares closed at
Rs271.45, down 1.38% on the NSE. The Total
Investment & Insurance Solutions
Budget
passenger carrier IndiGo reported a decline of 73.3% in its net profit for the
quarter ended March 31, 2018. According to the airline, the net profit during
the quarter under review fell to Rs117.64 crore from Rs440.30 crore reported
for the corresponding period of 2016-17. "Results include certain credits
received from manufacturers to offset some of the impact of aircraft groundings
and delivery delays," IndiGo said in a statement. However, the low-cost
carrier's revenue from operations grew by 19.6% to Rs5,799.11 crore for the
quarter ended March 2018 compared to the same period last year. InterGlobe
Aviation shares closed at Rs1,206.05, down 10.63% on the NSE.
Two-wheeler
major Hero MotoCorp reported a rise of 34.78% in its net profit for the quarter
ended March 31, 2018, to Rs967.40 crore from Rs717.75 crore reported in the
corresponding period of the previous year. "With strong sales of 20,01,595
units in the fourth quarter of FY'18 (January-March 2018), Hero MotoCorp...
reported Revenue from operations (net of excise duty) of Rs8,564.04 crore (vs.
Rs6,922.80 crore in the corresponding quarter last year); a growth of
23.7%," the company said in a statement. Besides, the company reported a
rise of 9.48% in its net profit for the financial year ended March 31, 2018
which increased to Rs3,697.36 crore from Rs3,377.12 crore reported for the
previous corresponding period. "Riding on its highest-ever sales of
7,587,154 units in a financial year, the company registered revenue from
operations (net of excise duty) of Rs32,230.49 crore, as compared to
Rs28,500.46 crore; a growth of 13.1%." The company’s shares closed at
Rs3,655.60, down 0.41% on the NSE.
State-run
explorer Oil and Natural Gas Corp (ONGC) bid for 37 oil and gas blocks while
private sector Vedanta Resources placed bids for all the 55 areas on offer in
the first auction of oil and gas acreage under the new open acreage licensing
policy (OALP), according to an official announcement. ONGC shares closed at
Rs181.10, up 0.39% on the NSE. The Total
Investment & Insurance Solutions
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)
