Hester Biosciences: Strong Growth But Expensive
The stock of Hester Biosciences Limited (HBL), a leading animal healthcare company and second largest poultry vaccine manufacturer in India, turned into a 20-bagger during India’s massive bull-run from 2014 to December 2017, when it hit its all-time high price of Rs1,955 in December. Since then, the stock has corrected by 42% but has shown great strength during the September-October 2018...
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Nifty, Sensex Selloff Continues – Thursday closing report

We had mentioned in Wednesday’s closing report that Nifty, Sensex were again under bear attack.  The major indices of the Indian stock markets suffered a sharp correction on Thursday and closed with losses over Wednesday’s close. On the NSE, there were 445 advances, 1,323 declines and 295 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:

 

 
The S&P BSE Sensex, plunged over 800 points on Thursday, as a steady decline in the domestic currency and concerns that the central bank would raise the policy interest rate soured investor sentiments. The wider Nifty50 of the National Stock Exchange also lost 240 points. The Indian rupee earlier on Thursday sunk to its fresh low of 73.77 to a dollar, as global crude oil prices continued to climb. India imports nearly 80% of its crude requirements, and a higher price will potentially worsen the current account deficit of Asia's third-largest economy. The Reserve Bank of India will unveil its monetary policy on Friday, where it is likely to raise the repurchase rate by 25 basis points. The repo rate currently stands at 6.5%.
 
Global software major Tata Consultancy Services (TCS) on Thursday said it signed a Memorandum of Understanding (MoU) with the Institute of Industrial Science (IIS) at University of Tokyo to collaborate on technology research and facilitate inter-personnel exchange. Tata Consultancy Services shares closed at Rs2,063.00, down 4.62% on the NSE.
 
State-run ONGC has awarded a major work package worth Rs11,740.86 crore ($1,694.45 million) to a consortium of companies for integrated development of "KG-DWN-98/2" project located on the East Coast. According to the company, the consortium of BHGE, McDermott and L&T hydrocarbon has been awarded the contract. "This tender is one of the biggest integrated tenders awarded globally in recent years," the company said in a statement on Wednesday. "ONGC envisages commencement of first gas production by December 2019, first oil by March 2021 and overall project completion by August 2021." ONGC shares closed at Rs163.35, down 9.98% on the NSE.
 
NBCC has received LoA (Letter of Assurance) worth Rs400 crore (approx.) from IIM Ranchi to provide Project Management Consultancy for development of permanent campus (Phase-1 works). NBCC (India) Limited shares closed at Rs56.20, down 2.43% on the NSE.
 
L&T Hydrocarbon Engineering in consortium with Baker Hughes, a GE company and McDermott International, Inc. has been awarded the subsea contract for ONGC's (Oil and Natural Gas Corporation) largest deep-water oil & gas project - 'Development of block DWN-98/2 in the Krishna Godavari basin'. Larsen & Toubro shares closed at Rs1,256.00, up 0.85% on the NSE.
 
GMR Infra has emerged as the highest bidder for the Development, Operations and Management of Dr Babasaheb Ambedkar International Airport, Nagpur on a Public Private Partnership (PPP) basis. GMR Infrastructure shares closed at Rs16.15, down 3.29% 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 again under bear attack – Wednesday closing report

We had mentioned in Monday’s closing report that Nifty, Sensex might log in more gains. The major indices of the Indian stock markets suffered a correction on Wednesday and closed with losses over Monday’s close. On Tuesday, the stock markets had a holiday on account of Gandhi Jayanthi.  On the NSE, there were 1,033 advances, 753 declines and 276 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

 

 
Owing to a weak rupee and broadly negative global cues the S&P Sensex tanked over 500 points and the Nifty50 slipped by 130 points on Wednesday.
 
Automobile major Maruti Suzuki India has recalled over 600 Super Carry vehicles to inspect for a possible defect in the fuel pump assembly. According to the company, 640 vehicles in the domestic market, manufactured between January 20 and July 14, 2018, will be covered in this recall campaign. Maruti Suzuki India shares closed at Rs7,217.00, down 3.31% on the NSE.
 
Tata Communications, a leading global digital infrastructure provider, on Wednesday said it was acquiring Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE). This acquisition follows Tata Communications' investment in Teleena in January 2017, when the company became the single largest shareholder in Teleena with a 35% stake. Tata Communications shares closed at Rs486.20, down 3.38% on the NSE.
 
Software major Tech Mahindra on Wednesday announced a strategic partnership with ELTA Systems Ltd., a subsidiary of Israel Aerospace Industries (IAI), to provide next generation cyber solutions and services to state and enterprise customers in India and globally. Tech Mahindra shares closed at Rs750.20, down 1.23% on the NSE.
 
Public sector bank, Bank of Maharashtra (BoM) has announced the closure of 51 branches across the country as part of cost-cutting measures being implemented in the banking industry, an official said on Wednesday.
 
This is the first such measure initiated by any PSB in Maharashtra. The BoM has around 1,900 branches all over India.  In a terse announcement on Monday, the BoM said that it has closed down and merged these 51 branches for public convenience. Bank of Maharashtra shares closed at Rs11.40, up 0.88% on the NSE.
 
Telecom major Bharti Airtel on Wednesday said it had acquired AuthMe ID Services, a Bengaluru based start-up focused on Artificial Intelligence (AI)-based solutions. As part of the "acquihire" deal, the core team of AuthMe will join Airtel and will be a part of Airtel X Labs in Bengaluru, the company said, without disclosing the transaction amount. In addition, Airtel has acquired the intellectual property rights for two flagship solutions developed by AuthMe. Bharti Airtel shares closed at Rs316.35, down 3.18% 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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