Heritage Foods: Growth Has Tapered Off
In the previous issues, we analysed Parag Milk (PML) and Prabhat Dairy (PDL). One milk products company that has been listed for long is Heritage Foods Ltd (HFL), founded by Chandrababu Naidu in 1992, now the chief minister of Andhra Pradesh. The stock got listed in 1994 and the issue was oversubscribed by 54 times. HFL operates in the dairy, feed and renewable energy...
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Nifty, Sensex may continue to slide – Wednesday closing report

We had mentioned in Tuesday’s closing report that Nifty, Sensex continued to be under pressure. The major indices of the Indian stock markets were range-bound on Wednesday and closed with losses over Tuesday’s close. On the NSE, there were 625 advances, 1,125 declines and 321 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

 

 
Amid further fall in the rupee and weak global markets, the key Indian equity indices pared all its initial gains made during the morning session to trade in the red on Wednesday afternoon. The benchmark S&P BSE Sensex lost over 200 points to trade below the psychological mark of 38,000 points. According to market observers, selling pressure was witnessed in consumer durables, banking and capital goods stocks. Globally, markets broadly traded on a negative note due to the persistent trade tensions.
 
Weak demand conditions decelerated the growth of India's service sector in August, a key economic data point showed on Wednesday. Accordingly, the seasonally adjusted Nikkei India Services Business Activity Index dipped from 54.2 in July to 51.5 in August. Consequently,...

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Nifty, Sensex Continue to be under Pressure – Tuesday closing report

We had mentioned in Monday’s closing report that Nifty, Sensex were under pressure. The major indices of the Indian stock markets suffered a correction on Tuesday and closed with losses over Monday’s close. On the NSE, there were 414 advances, 1,351 declines and 305 unchanged. The trends of the markets in the course of Tuesday’s trading are given in the table below:

A slump in the Indian rupee along with broadly negative global cues subdued the key Indian equity indices on Tuesday. The trade has been largely choppy after the indices opened on a positive note. According to market observers, selling pressure was witnessed in consumer durables, banking and FMCG (fast moving consumer goods) stocks so far.
 
The Reliance Infrastructure Ltd-Astaldi S.p.A.(Italy) consortium has bagged the project for the northern extension of the Rajiv Gandhi Bandra Worli Sea Link from Bandra to Versova, an official said here on Tuesday. The consortium has signed an agreement with the Maharashtra State Road Development Corporation (MSRDC) for the Rs7,000 crore Bandra-Versova arm of the RGBWSL within five years. In the competitive bidding process, RInfra-Astaldi with its bid of...

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