We had mentioned in Monday’s closing report that Nifty, Sensex may rally for a few more days. The major indices opened in the green and closed with gains. On the NSE, there were 1,280 advances, 502 declines and 339 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
The Central Board of the Reserve Bank of India (RBI) accepted the Bimal Jalan panel recommendations and decided to transfer Rs1,76,051 crore to the Government of India comprising of Rs1,23,414 crore of surplus for the year 2018-19 and Rs52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adopted at the meeting of the board on Monday.
Bank of Baroda has issued Basel III Compliant Additional Tier I Bonds for aggregate total issue size not exceeding Rs1,650 crore. The board also approved issue of Basel III Compliant Tier II Capital Bonds for aggregate total issue size not exceeding Rs500 crore.
Emami Paper Mills may surrender a plot of 14,931 sq.mt at Sakhya Industrial Estate, Bharuch, Gujarat which was allotted for Gujarat Project. The management do not see the present business environment is going to change in a short period of time and hence, it has been decided against investing in Gujarat Project until the market improves.
Pidilite Industries has entered into a joint venture with Chetana Expotential Technologies. The JV will be responsible for deploying Chetana’s post compressed aerated concrete wall panels technology and other ancillary products in projects in India, Sri Lanka and Bangladesh.
Hindustan Petroleum Corporation is seeking more gasoline after having purchased more than 120,000 tonnes of the fuel for September to early October delivery from the spot market to plug a supply gap, industry sources said. The state-owned refiner has been actively seeking gasoline from the spot market this year as Indian refiners undergo maintenance and upgradation to produce cleaner fuels.
Infosys has bought back 11.05 crore of its shares at an average price of Rs747.38 per equity share under its Rs8,260-crore buyback offer that began in March this year.
Strides Pharma Science announced that its step down subsidiary Strides Pharma Inc. has acquired a USFDA(FDA) approved manufacturing facility in Florida, US from Micelle BioPharma, Inc. Micelle's facility is based in Riviera Beach, Florida and is one of the very few manufacturing facilities in the US with a soft gel capsule(SGC) manufacturing suite for formulations with containment needs. It is also the only FDA approved integrated manufacturing-packaging SGC facility in the US. The site has undergone several successful FDA inspections and has no outstanding FDA observations.
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: