If Businessmen and Investors Are Waiting for a Stimulus Package, It Shows How Clueless They Are about the Modi Regime
The Indian stock market has been on a relentless slide since the euphoric high it made after Narendra Modi managed to lead the Bharatiya Janata Party (BJP) to power with a huge majority once again in May 2019. From over 40,200 it hit in early June, the Sensex was at 36,500 at the time of writing this article. Everybody knows the reason. The hopes of turbo-charged reforms, which we were...
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 Find No Support – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex have turned weak. The major indices suffered a huge decline today. On the NSE, there were 368 advances, 1,433 declines and 302 unchanged. The trends of the Indian stock markets in the course of Thursday’s trading are given in the table below:
     
     
    The Sensex and Nifty came under heavy selling pressure over fading hopes of a stimulus to revive economic growth. Chief Economic Advisor (CEA) K. Subramanian at a summit in New Delhi said the Indian economy does not need a fiscal stimulus to tackle the ongoing economic slowdown. "We can't expect the government to intervene every time some sectors go through sunset. Not all sectors are doing bad, some are doing well," the CEA said.
     
    Tata Sons announced the appointment of Pratik Pal as the CEO of Tata Digital. With effect from August 21, "Pal will head the new entity which has been formed to incubate new digital businesses", a Tata Sons statement said. Pal has been with Tata Consultancy Services (TCS) for over 27 years and has held several key positions across multiple business units and industry verticals, said the statement. In his most recent role, he was the Global Head of Retail, Travel, Transportation, Hospitality and Consumer Packaged Goods Industry Unit.
     
    Lupin announced the launch of Fluoxetine Tablets USP, 10 mg and 20 mg, having received an approval from the United States Food and Drug Administration (U.S. FDA) earlier. Lupin's Fluoxetine Tablets USP, 10 mg and 20 mg, is the generic equivalent of Eli Lilly and Company's Prozac® Tablets, 10 mg and 20 mg. It is indicated in the treatment of Major Depressive Disorder (MDD), Obsessive Compulsive Disorder (OCD), Bulimia Nervosa and panic disorder.
     
    Gillette India Limited (GIL) today announced its financial results for the fiscal ended June 30, 2019. The company delivered sales of Rs1,862 crores, up 11% vs. year ago behind strong brand fundamentals. Profit after tax stood at Rs253 crores up 10% vs. year ago. For the quarter ended June 30, 2019, the sales were Rs464 crores up 13% vs. year ago. The board has declared a final dividend of Rs25/- per equity share.
     
    Procter & Gamble Hygiene and Health Care Ltd. (PGHHCL) announced today its financial results for the fiscal ended June 30, 2019. The company delivered sales of Rs2,947 crores, up 20% vs. year ago (comparable sales* up 14%) behind strong brand fundamentals and strength of the product portfolio. Profit after taxes stood at Rs419 crores, up 12% vs. a year ago. For the quarter ended June 30, 2019, the sales were Rs637 crores up 21% vs. a year ago (comparable sales* up 12%). The board has declared a final dividend of Rs48/- per equity share.
     
    US FDA has completed inspection of the facility of Granules Pharmaceuticals, Inc., a wholly-owned foreign subsidiary of the Company located in Chantilly, Virginia, USA on 21st August 2019 with two (2) minor observations. This is a pre-approval inspection for seven products filed from this facility. Granules Pharmaceuticals, Inc. will respond to these observations within the stipulated time period.
     
    Adani Renewable Energy, a stepdown subsidiary of Adani Green Energy has commissioned balance 100 MWac capacity on 21st August, 2019 in the state of Rajasthan out of 200 MWac Solar Power Project, having Power Purchase Agreement with Maharashtra State Electricity Distribution Company Limited (MSEDCL) at Rs2.71/kWh for a period of 25 years. The first 100 MWac capacity of the said project has already been commissioned on 2 August 2019.
     
    Sun Pharma Advanced Research will host a Management Presentation over an audio conference September 19 to share and provide an update and progress on its R&D pipeline. 
     
    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

    Nifty, Sensex Turn Weak – Wednesday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex were directionless. The major indices suffered a correction. On the NSE, there were 441 advances, 1,341 declines and 331 unchanged. The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
     
     
    Foreign Portfolio Investors (FPIs) bought equities worth Rs31,700 crore in the quarter ended June 2019, broking firm Kotak Securities estimated. FPI ownership in the BSE-200 Index increased to $444 billion in the June quarter from $433 billion in the March quarter. 
     
    Popular Indian biscuit maker Parle Products may cut up to 10,000 jobs owing to the prevailing macro-economic situation, according to a company executive. According to reports, Mayank Shah, category head at Parle Products, has said that if there is no tax relief in the form of a GST rate cut, the company may have to lay off 8,000 to 10,000 people.
     
    State-run power generator NTPC's Kaniha unit in Angul district of Odisha is facing coal shortage due to a strike by villagers at the Kaniha Open Cast Project (KOCP). The coal supply to the Kaniha unit from KOCP has stopped since August 18 due to a strike by villagers at the mines end, an NTPC statement said on Tuesday.
     
    Zydus Cadila has received the final approval from the USFDA to market Ranolazine Extended Release Tablets (US RLD - Ranexa®), 500 mg and 1.000 mg. The drug is used to treat chronic angina and may be used with other medicines that are used for heart problems and blood pressure control. It will be manufactured at the group's formulations manufacturing facility at Baddi.
     
    A meeting of the Capital Raising Committee (CRC) of whole time Directors of Bank of Baroda is scheduled to be held on 26.08.2019 to consider raising of capital for the Bank through issuance of Basel III Compliant Tier II bonds / Additional Tier 1 Bonds.
     
    Sun Pharma Advanced Research Company announced that a complaint has been filed by Abraxis Biosciences LLC in the U.S. District Court for the District of New Jersey, alleging that SPARC's filing of New Drug Application (NDA) for Taclantis® injection (Paclitaxel Injection Concentrate for Suspension) is an act of infringement of the Orange Book listed patents for Abraxane®. SPARC believes that this lawsuit is without merit.
     
    CG Power remained locked in lower circuit  down by 20% for the second day following serious allegations of siphoning off money.
     
    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

    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)
    FREE: Your Complete Family Record Book
    Keep all the Personal and Financial Details of You & Your Family. In One Place So That`s Its Easy for Anyone to Find Anytime
    We promise not to share your email id with anyone