We had mentioned in Tuesday’s closing report that Nifty, Sensex may lose more ground. The major indices were volatile and ended with gains. On the NSE, there were 927 advances, 854 declines and 344 unchanged.
The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
The Reserve Bank's (RBI) decision to reduce risk weighting on consumer loans is credit negative as it will encourage banks to increase their exposure to this loan segment at a time when credit risks are already increasing, said a report by Moody's Investors Service. On September 12, the Reserve Bank of India reduced risk weighting on consumer loans such as personal loans to 100% from 125%.
HCL Technologies has secured a contract with Aperam, a global player in stainless, electrical and specialty steel. By partnering with HCL, Aperam aims to significantly enhance its employees' end-user experience, foster business-IT collaboration, and increase business efficiency globally. HCL will be providing a 24x7 multi-channel multi-lingual IT service desk for Aperam's end users, using its Al-enabled cognitive virtual assistant, DRYiCE™ Lucy, to provide first line support.
The board of SRF Industries (Thailand) had decided to close the operations of its technical textiles business operating out of Rayong, Thailand as it was becoming economically unviable to continue running the plant. It has been decided to close the operations there and dispose off the assets of the business. Some of the assets as may be found suitable may be purchased by SRF Limited for its Indian operations.
Dilip Buildcon has announced that, the project of rehabilitation and upgradation of NH-18 to two lane with paved shoulders has been completed. The completion certificate has been and has declared the project fit for entry into operation and consequently the company is entitled to maximum bonus of Rs3.564 crore in lieu of earlier completion (60 days prior to the schedule completion date).
Mukesh Ambani has raised promoter stake in flagship Reliance Industries by 2.71% to 48.87%, according to regulatory filing by the company. Reliance Services and Holdings Ltd, controlled by promoter group firm Petroleum Trust, acquired 17.18 crore shares or 2.71% stake in Reliance.
India’s aviation regulator has suspended at least three pilots and two engineers of IndiGo for not reporting incidents of engine vibrations in Airbus A320s fitted with Pratt & Whitney’s Neo engines, according to media sources.
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: