Bharat Rasayan: Rising Receivables
Bharat Rasayan makes pesticides and technical formulations and intermediaries. Its stock price has rallied approximately seven times in the past three years. On 1 January 2016, Bharat Rasayan’s share was selling for Rs1,070 a piece and rallied up to Rs1,800 by the end of the year. It further rallied to Rs4,200 by the end of calendar year 2017 and made a high of Rs8,200 in August 2018. But...
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Nifty, Sensex Trendless – Wednesday closing report

We had mentioned in Tuesday’s closing report that Nifty, Sensex could log more gains. The major indices of the Indian stock markets rallied on Wednesday and closed with gains over Tuesday’s close. On the NSE, there were 593 advances, 1,131 declines and 340 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

 

 

The benchmark S&P BSE Sensex advanced 200 points on Wednesday, extending its third straight session of gains led by strong gains in the IT (information technology) stocks. In addition, the markets also took cues from an appreciating rupee and retreating foreign fund inflow as India's macro-economic conditions improved largely owing to declining crude oil prices. However, the Brent Crude prices logged a slight increase which comes ahead of the OPEC (Organisation of Petroleum Exporting Countries) meeting next week. The benchmark crude price traded at $61 a barrel. The local currency strengthened to Rs70.66 against a US dollar from its previous close of 70.76. IT stocks led the gains on Sensex, followed by Teck (technology, entertainment and media). In contrast, healthcare, oil and gas stocks witnessed selling pressure.
 
Appearing before the Parliamentary Standing Committee on Finance, RBI (Reserve Bank of India) Governor Urjit Patel said that the effect of demonetisation was temporary while he will respond to issues related to the RBI's autonomy and reserves in the next 10 to 15 days in the midst of differences with the government.
 
YES Bank's foreign currency issuer ratings have been downgraded to Ba1 from Baa3 by Moody's Investors Service. The outlook, where applicable, has been changed to negative from stable. YES Bank’s shares closed at Rs162.00, down 11.31% on the NSE.
 
Cadila Healthcare reported that Zydus Cadila has received final approval from the USFDA (Food and Drug Administration) to market Baclofen Tablets (US RLD- Lioresal®). Baclofen is used to treat muscle spasms caused by certain conditions such as multiple sclerosis, spinal cord injury/ disease. Cadila Healthcare shares closed at Rs342.65, down 0.90% on the NSE.
 
Orient Electric has entered into a strategic partnership with De'Longhi Group, Italy for launching three international premium small appliances brands in India - De'Longhi, Kenwood and Braun. Orient Electric will have exclusive rights to market and sell these brands in India. Orient Electric shares closed at Rs140.50, down 1.92% on the NSE.
 
Atul Auto has signed the term-sheet with JBM Industries for entering into a JV (joint venture) Agreement to expand/develop the business of 3-Wheeler Electric Autos with the blend of respective expertise. The existing company Atul Green Automotive will be utilised for this purpose. Atul Auto shares closed at Rs333.35, down 0.89% on the NSE.
 
Majesco reported that Majesco USA has entered into a SPA for acquiring 100% equity holding in Exaxe Holdings. It has paid the sellers EUR 6.39 Mn for 90% and it has agreed to pay EUR 0.72 Mn for balance 10% by Aug-19. Exaxe is a SaaS solutions provider for life, pension & wealth management products. Majesco shares closed at Rs474.00, up 0.20% on the NSE.
 
Dr Reddy's launched Chlorthalidone Tablets USP in the US markets. The drug is a generic version of Hygroton (chlorthalidone) Tablets, approved by the U.S. FDA. Dr Reddy’s Laboratories shares closed at Rs2,572.35, down 0.63% on the NSE.
 
Capacite Infraprojects has received maiden order from BSNL (Bharat Sanchar Nigam Limited) for a total contract value of Rs335.38 crore for construction of buildings for Unified Network Management System. Capacite Infraprojects shares closed at Rs234.50, up 2.56% on the NSE.
 
Apollo Hospitals has joined hands with Kerala's Adlux Group to develop a 250-bedded super-speciality hospital in the suburb of Kochi. Apollo Hospitals Enterprise shares closed at Rs1,229.65, down 0.29% on the NSE.
 
Automobile manufacturer Maruti Suzuki India announced that its premium hatchback Swift has registered the two million sales landmark since its first launch in May 2005. At the same time, Maruti Suzuki increased production of iconic Swift by 45 per cent to 1.39 lakh units during April-October 2018-19, as against previous year. This has helped us delight our customers by reducing the waiting period of the car." Maruti Suzuki shares closed at Rs7,550.20, down 1.27% on the NSE.
 
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:
 
 

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Nifty, Sensex Log More Gains – Tuesday closing report

We had mentioned in Monday’s closing report that Nifty, Sensex were headed higher. The major indices of the Indian stock markets rallied, after a dip, on Tuesday and closed with gains over Monday’s close. On the NSE, there were 792 advances, 921 declines and 342 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:

 

 
The key equity indices were higher on Tuesday, but banking stocks were subdued. Buying was witnessed in energy and IT (information technology) stocks. On Monday, the Centre's recapitalization announcement of Rs42,000 crore to unhealthy PSU (public sector undertakings) banks boosted investor sentiments. Currently, 11 of the 21 state-run banks are under RBI's (Reserve Bank of India) Prompt corrective action (PCA) framework which restricts weak banks from carrying out certain operations. 
 
Crude oil prices traded at $60.15 per barrel while the domestic currency was nearly flat at Rs70.90 per dollar from its previous close of 70.87. The decline in crude oil prices, which has crashed over 30% since early October, comes amid expectations of slowing demand and an over-supplied crude oil market led by the US. The Indian rupee, as a consequence, has gained over 5% against the US dollar from its life time high of 74.47.
 
Ahead of the official release of the second-quarter GDP figures, State Bank of India (SBI) estimated the country's economy to expand by 7.5%-7.6%, slower than the prior quarter, mainly on account of a slowdown in rural demand. 
 
Granules India has received USFDA (Food and Drug Administration) approval for its ANDA for Methylphenidate Hydrochloride Extended-Release Tablets USP. The approved ANDA is therapeutically equivalent to the RLD - Ritalin SR Sustained-Release Tablets of Novartis Pharmaceuticals. Granules India shares closed at Rs87.90, down 2.93% on the NSE.
 
Alembic Pharmaceuticals has received approval from the USFDA for its ANDA Temazepam Capsules USP, therapeutically equivalent to RLD, Restoril Capsules of SpecGx LLC. Temazepam Capsules are indicated for short term treatment of insomnia. The company’s shares closed at Rs561.05, down 0.21% on the NSE.
 
IIFL Holdings reported that IIFL Securities was to acquire 15% strategic stake in Bangalore based fin-tech startup 'Trendlyne' (Giskard Datatech Private Ltd), a stock market analytics platform for retail investors, analysts, fund managers and advisors. IIFL Holdings shares closed at Rs477.00, down 0.02% on the NSE.
 
Graphite electrodes manufacturer HEG's board has approved a buyback of 3.41% of the company's equity shares worth Rs750 crore. The firm has set the buyback price at Rs5,500 per equity share. In addition, HEG also announced an expansion of its graphite electrode capacity to 100,000 TPA (tonnes per annum) from 80,000 TPA. "The additional 20,000 TPA will be at the cost of 1,200 crore rupee and is likely to be financed via internal accruals and debt, if required. The fresh capacity is likely to come on stream within 30-36 months." HEG is currently operating at a capacity of 85%-90%. HEG shares closed at Rs4,350.00, down 0.18% on the NSE.
 
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:
 
 

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