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Power Grid Corporation: Low Power
There is a lot of excitement around Power Grid Corporation’s stock. One of the reasons for this buzz is that Power Grid Corporation came out with impressive June quarter results with its stand-alone revenues jumping by 30.5% to Rs6,120 crore. It did well on the bottom-line front too with its stand-alone net profit rising by an impressive 33% to Rs1,802 crore. The Street gave thumbs up to...
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Sensex, Nifty may be range-bound - Monday closing report
We had mentioned in Friday’s closing report that Nifty, Sensex were looking weak. The major indices rallied in a small way on Monday and closed with less than 0.50% gains over Friday’s close. The rally was however on lower volumes of trading. There is no immediate trigger for the Nifty to head higher and so the index may be range-bound between 8,550 and 8,650. The trends of the major indices in the course of Monday’s trading are given in the table below:
 
 
 
Indian equity markets traded flat during the mid-afternoon session on Monday prompted by mixed global cues and lower crude oil prices. Selling pressure was witnessed in information technology (IT), healthcare and banking stocks. The BSE market breadth was tilted in favour of the bears -- with 1,465 declines and 1,216 advances. On the NSE, on Monday, there were 636 advances, 821 declines and 69 unchanged.
 
Initially, on Monday, the benchmark indices opened on a flat note prompted by mixed Asian and US markets.  Investors also remain cautious ahead of key domestic macro-economic data such as gross domestic product (GDP) and eight core industrial output data to be announced on August 31. Besides, lower crude oil prices also added to the downward trajectory. However, Indian equity markets were lifted by sector-specific buying. Consequently, the key Indian indices closed the day's trade in the green, as healthy buying was witnessed in automobile, capital goods and metal stocks.
 
Following its merger with Bharti's retail business, Future Retail got listed at Rs153 on the Bombay Stock Exchange (BSE) on Monday. The stock was listed in the exchange in the list of 'T' Group Securities. Under the scheme of arrangement, the company was segregated into Future Enterprise, which took the responsibility of the backend business and Bharti Retail, which takes care of the frontend business. In May last year, the Future group approved the consolidation and realignment of its retail operations with Bharti Retail Ltd to form one of the biggest supermarket chains. In order to streamline the operations resulting from the consolidation, the respective board of directors had proposed to demerge the retail business of Future Retail to Bharti Retail and to demerge the infrastructure business of Bharti Retail to Future Retail. The shares of the company closed at Rs160.65, up 5.00% on the BSE.
 
State-run Rural Electrification Corporation (REC) on Sunday said it will seek the approval of its shareholders on September 21 for raising Rs50,000 crore through non-convertible debentures (NCDs). Giving notice of its AGM to be held on September 21, REC said in a stock exchange filing that it can issue via private placement unsecured/secured non-convertible bonds/debentures up to Rs50,000 crore during a period of one year from the date of passing of this resolution. "Consent of the Company be and is hereby accorded to raise funds through private placement of unsecured/secured non-convertible bonds/debentures upto Rs50,000 crore during a period of one year from the date of passing of this resolution, in one or more tranches," the filing said. The REC board had, earlier this month, cleared the company's fund raising plans. The company’s shares closed at Rs227.30, down 1.37% 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 on Monday are given in the table below:
 
 

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Snehal Mahadik

9 months ago

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UCAL Fuel Systems: New Energy?
UCAL Fuel Systems offers fuel management systems for automotive sector and supplies products to two-, three- and four-wheeler manufacturers. These products include: carburettors for two-wheelers, gasoline fuel injection systems, engine management systems, products for diesel applications and emission control, pumps for high-pressure die-casting and precision manufacturing products. With...
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