Nifty, Sensex Trying to Rally – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex were unimpressed by PM Modi’s talk and so were down again. The major indices rallied today. On the NSE, there were 949 advances, 808 declines and 339 unchanged. The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
Lower inflation rates along with hopes of an easing in US-China trade tensions and attractive valuations lifted the Indian equities market on Wednesday. Buying was seen in automobile, capital goods and banking stocks, whereas selling pressure was seen in the healthcare sector.
Diversified energy major ONGC’s net profits declined 19% y-o-y to Rs6,694 crore for the quarter ended June 2019 (Rs8,287 crore in Q1 FY19). Revenues declined 0.77% to Rs109,515 crore against Rs110,367 crore in Q1 FY19..
Ahluwalia Contracts has bagged a construction order worth Rs168 crore for construction of modern flower market for commission agent shops, cold storage facility including water supply, electrical, plumbing and fire-fighting services and other works at IFC Gazipur. 
The state administration of Jammu and Kashmir announced a three-day global investor’s summit to in Srinagar from October 12. The meet will provide J-K an opportunity to showcase its strengths, strategies and potential, the state's Principal Secretary (Industries), Naveen Choudhary, told media.
United Breweries posted net profit of Rs164.69 crores for the quarter ended June 2019 (Rs222.39 crores in Q1 FY19) down 26% y-o-y. Total income grew 13% y-o-y to Rs4,711.67 crores (Rs4,174.17 crores in Q1 FY19).
West Coast Paper Mills posted net profit of Rs103.51 crores for the quarter ended June 2019 (Rs84.03 crores in Q1 FY19) up 23% y-o-y. Total income grew 17% y-o-y to Rs549.64 (Rs468.88 crores in Q1 FY19).
NMDC posted net profit of Rs1,178.15 for the quarter ended June 2019 (Rs974.35 in Q1 FY19) up 21% y-o-y. Total income grew 33% y-o-y to Rs3,386.65 crores (Rs2,547.33 in Q1 FY19).
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

    Groaning under Debt, Reliance Industries Throws in the Towel on Ownership and Control
    Yesterday, Reliance Industries (RIL) announced that Saudi Aramco has agreed to take 20% stake in its refining and petrochemicals business, described as the Oil to Chemicals (O2C) division. The transaction, which values the business at $75bn (billion) including debt, has made investors extremely happy. The stock shot up more than 10% today. According Mukesh Ambani, who disclosed the details...
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  • Nifty, Sensex Unimpressed by Modi Talk, Want the FM to React – Tuesday closing report
    We had mentioned in Friday’s closing report that Nifty, Sensex will be disappointed with Finance Minister’s move on the tax surcharge on the super-rich. Since FM only decided to listen patiently to the foreign portfolio investors and refused to make any major commitment the major indices suffered a correction today. On the NSE, there were 550 advances, 1,228 declines and 327 unchanged.
    The trends of the major indices in the course of Monday’s trading are given in the table below:
    The Sensex fell by over 200 points during the early trade on Tuesday. Index-heavyweight Reliance Industries Ltd. (RIL) jumped nearly 9% after Saudi Aramco signed a letter of intent for a proposed investment in RIL's oil-to-chemical division. The deal is likely to fetch RIL $15 billion for a 20% stake.
    Indiabulls Housing Finance stocks surged 14% on the NSE after the law firm Managium Juris tendered a public apology for an earlier false suit alleging that Indiabulls was involved in fraud. The law firm had earlier alleged that Indiabulls was involved in misappropriation of public money to the tune of Rs98,000 crore.
    The slump in domestic passenger cars' sales continued with the segment's off-take plunging by 35.95% in July. Industry observers cited high cost due to GST and lack of adequate liquidity as the main reasons for the sales slowdown. According to the Society of Indian Automobile Manufacturers (SIAM), passenger cars sales in the domestic market dropped to 122,956 units from 191,979 units sold during July 2018.Overall, passenger vehicle sales declined 30.98% in July to 200,790 units from 290,931 units.
    Specialised automotive component manufacturer Motherson Sumi Systems (MSSL) on Monday reported a decline of 41.67% in its consolidated net profit for the first quarter of 2019-20. The company's consolidated net profit during the quarter under review receded to Rs360.64 crore from Rs618.35 crore reported for the previous corresponding period. However, the company's consolidated gross sales grew to Rs 16,557.33 crore from Rs 14,562.98 crore earned during Q1 of 2018-19.
    The Asian Development Bank (ADB) has signed an agreement to invest USD 23 million (about Rs160 crore) in a debt instrument being issued by GR Infraprojects to help the company scale up construction of roads and highways in India through purchase of new building equipment.
    Tata Motors on Tuesday reported 14% decline in the group's global wholesales, including those of Jaguar Land Rover, in July at 78,600 units. Global wholesales of all passenger vehicles in July 2019 stood at 52,432 units, a growth of 4% from the year-ago month, Tata Motors said in a regulatory filing.
    Bosch posted net profit of Rs279.95 crores for the quarter ended June 2019 (Rs430.98 crores in Q1 FY19) down 35% y-o-y. Total income declined 13.50% y-o-y to Rs2,877.57 crores (Rs3,326.81 crores in Q1 FY19).
    Drug firm Alembic Pharmaceuticals has received approval from the US health regulator for Fenofibrate tablets, used to lower cholesterol. The approved product is therapeutically equivalent to the reference listed drug Tricor tablets of AbbVie Inc.
    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



    5 months ago

    What if they start collecting Rs 300/ month for jio and charging separately for add on service. Rolling out gigafiber etc etc. Mukesh ambani is a visionary. He is planning to sell petroleum business since it's going to get outdated with EV ( I accept that they are selling alongside petroleum ones).

    Jagdish Lalwani

    6 months ago

    Top industry relu must make towels rather than throwin in towel as reported here..towels is big busness.since there is no major towel manufacturer..wth every mobile handset one cleaning snall towel should com free wrapped on jeete raho fone..jeete raho pochte ...raho


    6 months ago

    Good article

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