Fiberweb (India): Selling All It Can Produce
Fiberweb (India) manufactures spun bond non-woven fabrics from polypropylene used in the hygiene industry, agriculture crop cover, soil  cover, medical and industrial clothing and many other products like bags, pillow ticks and covers, bed covers, curtains, table cloth, garment interlining, etc. It also manufactures and exports garbage bags and carrier bags. It is a 100% export-oriented...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Nifty, Sensex on Course to Head Higher – Thursday closing report

We had mentioned in Wednesday’s closing report that Nifty, Sensex were in an uptrend. The major indices of the Indian stock markets staged a minor rally on Thursday and closed with small gains over Wednesday’s close. The trends of the major indices in the course of Thursday’s trading are given in the table below:

The Indian equity markets traded with gains during the mid-afternoon session on Thursday, with buying witnessed in banking, automobile and capital goods stocks. Equity benchmarks opened moderately higher on Thursday despite weak Asian markets. Auto, FMCG (fast moving consumer goods), healthcare and metals traded in the positive, while oil and gas and consumer durables sectors traded in the negative. Banking sector traded in the green on account of weekly Bank Nifty expiry, pointed out market analysts. On the NSE, there were 901 advances, 750 declines and 298 unchanged.
 
The World Bank's private financing arm IFC has invested Rs667 crore ($103 million) in L&T Infrastructure Finance Co by subscribing to the first official Green Bonds in India, a joint statement by both parties said on Thursday. "This is in line with the International Finance Corporation's (IFC) strategy to support renewable energy infrastructure in the country and also develop the capital markets," the statement said.  The L&T Finance Holdings subsidiary L&T Infrastructure Finance "will use this money to give loans to solar power projects".  "The issue by L&T Infrastructure Finance to IFC qualifies as the first Green Bond approved by Sebi (Securities and Exchange Board of India)." Larsen & Toubro shares closed at Rs1,699.00, up 0.20% on the BSE.
 
Diversified company Piramal Enterprises on Wednesday announced that its subsidiary Piramal Finance Ltd (PFL) has sanctioned an additional Rs700 crore to renewable energy firm ACME Solar Holdings. "The deal was made by introducing a new product -- a Flexi Line of Credit -- for the renewable energy sector," a Piramal release said here. Earlier in 2016, Delhi-based ACME Solar raised Rs 499 crore from PLF and its partner APG, a Dutch pension fund. According to the statement, ACME is one of the country's largest private solar energy producers with a portfolio of over 1.8 GW across 14 states. The company's current operational capacity is over 1 GW and is expected to reach 1.4 GW by the end of September. Commenting on the development, ACME Group Chairman Manoj Kumar Upadhyay said: "The current funding provides us with the required flexibility to invest in the solar and electric transportation business and ensure timely completion of projects. The shares of Piramal Enterprises closed at Rs2,942.00, up 4.36% on the BSE.
 
India's service sector activity rose to an eight-month high of 53.1 in June boosted by a significant jump in new work orders, indicating a solid upturn in output across the sector, key macro-economic data showed.  The seasonally adjusted Nikkei India Services PMI Business Activity Index registered a higher rate of expansion at 53.1 in June, up from 52.2 in May. An index reading of above 50 indicates an overall increase in economic activity, and below 50 an overall decrease. "Up from 52.2 in May to an eight-month high of 53.1 in June, the seasonally adjusted Nikkei India Services PMI Business Activity Index signalled a solid and accelerated upturn in output across the sector," according to the survey by Nikkei.  "Business conditions in India's service sector continued to improve in June as a solid and accelerated upturn in new work resulted in a faster increase in activity," it said.  "Growth of service sector activity and inflows of new business picked up as better demand conditions and marketing efforts bore fruit," said Pollyanna De Lima, economist at IHS Markit and the author of the report. "June's figure contributed to the highest quarterly average for the composite PMI (52.2) since Q2 (FY) 2016. This suggests that GDP growth is likely to rebound from the sharp slowdown noted in the first three months of 2017," she added. The S & P BSE Teck closed at 5,557.47 up 0.01% 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 are given in the table below:
 
 

User

Aries Agro: Waiting To Deliver
When you list its achievements and milestones, Aries Agro comes across as a fascinating business. This has attracted many savvy investors who are waiting for Aries to deliver. However, until now, Aries has disappointed. Over the years, it has continuously changed its product mix, for example, from mineral nutrition to agro-chemicals with the introduction of ‘chelated micronutrients’. The...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)