Stocks
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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COMMENTS

Snehal Mahadik

4 months ago

Hi

Will not take legal action against S Korea's ban: Volkswagen
Volkswagen Korea on Monday said it would not take legal action against a decision by the South Korean government to ban sales and revoke the certificates of 80 of its models over the German carmaker's emissions cheating scandal.
 
The local unit of the German company said earlier this month that it was considering a legal challenge after the South Korean Environment Ministry revoked certificates of 80 models of Volkswagen, Audi and Bentley, and fined the automaker 17.8 billion (around $15 million) for allegedly forging documents on emissions or noise-level tests, EFE news reported.
 
However, the company on Monday reportedly said it would no longer pursue such an action.
 
"We reached a conclusion that we need to move towards re-certification and resolve the current situation," an official at Volkswagen Korea said.
 
The measures against Volkswagen in South Korea came after an extensive probe into the company, which included raids of its offices and the arrest of a company executive.
 
Environmental activists gathered on Monday in Seoul's Gwanghwamun Square to call on the government to take further action against Europe's largest carmaker.
 
Holding up cardboard models of Volkswagen Beetles and messages reading "Main culprit of fine dust is Volkswagen", the group demanded answers over the scandal.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Chatar Singh

4 months ago

So liek compney

rk pharmacy

4 months ago

your company any time wil close that time deposit cash in deposit invester acount

Hamid Khan

7 months ago

Hallo

Noor Mohammad

9 months ago

Well, I was also suspecting this website in the beginning whether it is actually profit giving company or just a bullshit. My friend also showed me some web links of the clients, most of them were looking like they made it on their own e.g. Home tuition, auto insurance, auto repair etc. but there were some big links also like google, yahoo but what is the harm in promoting these big giant sites on your website without paying them anything. Even everyone would be loving if his/her website will be promoted by some source without paying anything. And after reading the above article, I am damn sure that the time when this company stops getting new members from outside, they will stop paying their members too. I am sure for this because socialtrade itself provide membership for 1 year only while others provide lifetime membership. They are even not sure whether they will be getting more members in the next year as well or not so they can ask their members to renew the membership. Ultimately company will be in profit if members renews their membership otherwise we all knows what can happen. Most of the joined members will not ask you to join with a basis package of Rs.5750 instead they will ask you to join with Rs.57500. Such a big amount yeah. And if you starts with Rs.5750 you will not be able to earn income of a rickshaw puller. We just need to think that is there anyone than can give Rs.516 by just clicking 125 links. Lets take an example, this company has 10,000 members & all gets link to click "Home tution", now 10000 clicks multiplied by Rs.5 equals Rs.50000. Can any website owner give this big amount on a daily basis just to promote his website. In future this will surely become only an MLM not more than that. Speakasia was so much popular than these socialtraders, if that website can be closed then why not this. The moment when any government official starts auditing this company work, the picture will become more clear to everyone. I was also about to join this fake money making scheme but now, a big No! Because it may not be now but in future it will be closed and all the dreams of people will surely die. If anyone wants to contact me, just call +91-8527570542.

REPLY

Harpreet Singh

In Reply to Noor Mohammad 8 months ago

Please stop your review
And let the company going on
All are getting there payout at right time
If you are not the member of the company so please do not give your bad reviews thanks

Kavya Ahuja

In Reply to Harpreet Singh 4 months ago

Is it safe..

Govind Kanwaria

In Reply to Kavya Ahuja 4 months ago

You are right kavya ji

Noor Mohammad

In Reply to Harpreet Singh 8 months ago

I'm sure that you are also earning a good amount through this business. I am not posting any bad reviews about the company. I just explained what this company is doing in my words. I know & am not denying this fact that there are thousands of people who have already joined this business and earning a good income like you but I would request each & every member of this MLM COMPANY to indulge in some other earning source as well because no-one can judge the future of these kind of companies.

Satya Prakash Chaurasia

In Reply to Noor Mohammad 5 months ago

There are different packages , starting from 5000 plus tax. A person can spend money according to his/her economic status. Like every business we start, it also has some risks. However, important point is that return is very high. People loose a lot of money in share market but nobody talks cheap about share market. Simillary we can lose or gain money here. However, chances of loosing is quite low because your money is returned within 4 months. So of company is running atleast for 4 months u will get all your money back and u will enter profit zone.

Satya Prakash Chaurasia

In Reply to Noor Mohammad 5 months ago

There are different packages , starting from 5000 plus tax. A person can spend money according to his/her economic status. Like every business we start, it also has some risks. However, important point is that return is very high. People loose a lot of money in share market but nobody talks cheap about share market. Simillary we can lose or gain money here. However, chances of loosing is quite low because your money is returned within 4 months. So of company is running atleast for 4 months u will get all your money back and u will enter profit zone.

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