At Last, a Move towards Super-growth Model!
Since late August, the finance minister (FM) Nirmala Sitharaman has held six press conferences in rapid succession. The amount of information she has shared at these conferences and the number of policy measures she has announced, probably, far exceeds those announced just a few months ago in the Union Budget, on 5th July. The first five were tinkering at the edges and disappointed the...
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  • Nifty, Sensex Under Relentless Selling Pressure – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex were still under pressure. The major indices suffered major losses today. On the NSE, there were 431 advances, 1,341 declines and 347 unchanged.
     
    The trends of the Indian stock markets in the course of Thursday’s trading are given in the table below:
     
     
    The US Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown, following a rate cut in July that was its first in more than a decade.
     
    IDBI Bank on Thursday approved the proposal for preferential issue to the government and LIC aggregating after their infusion of Rs4,557 crore and Rs4,743 crore, respectively, a total capital infusion of a little over Rs9,000 crore. In March, the Reserve Bank of India categorised IDBI Bank as a private sector lender following acquisition of majority stake by LIC.
     
    Astral Poly Technik Limited has approved the allotment of 3.01 crore equity shares of Re1 each as bonus equity shares, in the ratio of 1:4. Consequently, the paid up equity share capital of the company has increased from Rs12.05 crore to Rs15.06 crore.
     
    Surya Roshni Ltd has obtained order aggregating to Rs79.80 crore (GST extra) for design, manufacture supply, warranty of LED bulbs and other related works from Energy Efficiency Services Limited (EESL) on Pan India basis through competitive e-bidding.
     
    Lupin Limited has received a warning letter from the U.S. FDA for its Mandideep (Unit-1) facility. This is subsequent to an earlier intimation received from the U.S. FDA in March 2019 wherein the agency had classified its inspection conducted at the said facility in December 2018 as "Official Action Indicated" (0AI). The company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility.
     
    In line with the RBI guidelines dated 04th September 2019, Allahabad Bank has decided to launch retail loans and loans to micro & small enterprise linked with external benchmark rates published by Financial Benchmarks India Pvt. Ltd. (FBIL). Further, all the saving bank deposits of Rs40 lakh and above, long tenure fixed deposit, bulk deposits and flexi fix deposits will be linked with RBI's Repo Rate.
     
    Responding to media queries, Reliance Capital Ltd has clarified that no pledged shares of Reliance Nippon Life Asset Management Limited (RNAM) have been invoked by any lender. Further, borrowings covered under the pledged RNAM shares are matched by cash amounting to approx. Rs1,600 crore lying in escrow under tripartite agreements signed between the parties.
     
    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:
     
     
     
  • User

    IOL Chemicals: Attractive at the Current Prices
    IOL Chemicals and Pharmaceuticals Limited (IOLCP) has two business segments—chemicals and pharmaceuticals. The chemicals division manufactures bulk chemicals, such as acetic acid and specialty chemicals, including ethyl acetate and acetic anhydride which cater to flexible packaging, paint and lamination, ink, pesticides, etc. The pharmaceuticals division manufactures active pharmaceutical...
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