The major indices opened high but ended with losses over Tuesday’s close. On the NSE, there were 1,129 advances, 631 declines and 356 unchanged. The trends of the Indian stock markets in the course of Thursday’s trading are given in the table below:
Oil and Natural Gas Corporation informed that its fuel supplies would continue uninterrupted despite the massive fire at its Uran Oil and Gas Processing Plant that claimed four lives. ONGC also said that following the fire, gas processing was restricted to maintain supplies to internal power generation and also to meet the requirements of Mahanagar Gas Ltd, and the remaining gas was diverted to the other processing unit of the company at its Hazira plant.
Wipro secured a $300-million (Rs2,156 crore) seven-year deal from ICICI Bank through Vara Infotech for providing a suite of services. The bank contract generated Rs 221.5 crore business for Vara in the fiscal 2018-19.
Force Motors has reported total sales of 1,971 units during August 2019, as compared to 2551 units in July 2019 and 2083 units in August 2018, a month-on-month drop of 22.74% and YoY drop of 5.38%.
The NCLT bench has approved the resolution plan submitted by JSW Steel in respect of the corporate insolvency resolution process of Bhushan Power and Steel Limited. The written order containing the details and terms of such approval, if any, are awaited.
ECL Finance of Edelweiss group and State Bank of India have signed a co-origination agreement to increase access to credit for micro, small and medium enterprises (MSMEs). Pursuant to Reserve Bank of India's (RBI) guidelines on co-origination of loans by banks and NBFCs, the alliance aims to leverage combined reach in tier II and tier III markets to ensure timely disbursal of credit to MSMEs.
Bajaj Finance Ltd has allotted 14,000 Secured redeemable non-convertibles debentures of face value of Rs10 lakhs each aggregating to Rs1,400 Crores. The instrument has rating of "CRISIL AAA / Stable" by CRISIL Limited.
NTPC has announced that Unit-1 of 660 MW of Nabinagar super thermal power project (3 x 660 MW) of Nabinagar Power Generating Co. Limited (a wholly owned subsidiary of NTPC Limited) will be declared on commercial operation w.e.f 00:00 Hrs of 6 September 2019.
Novelis Inc., Hindalco's wholly owned subsidiary, reaffirmed its full commitment to closing its proposed acquisition of Aleris Corporation, notwithstanding the U.S. Department of Justice (DOJ) lawsuit to block the transaction. Novelis intends to vigorously defend against the DOJ's challenge, which it believes is without merit.
Cochin Shipyard Limited (CSL) has received the Letter of Acceptance (LoA) from Kochi Metro Rail Limited (KMRL) for building 23 boats for the Kochi Water Metro Project. These boats will provide inland transportation using electric/ hybrid technology. On the whole KMRL has a requirement of around 78 high quality boats of international standards. Out of this, 23 boats having a capacity of 100 PAX was tendered by KMRL in which CSL also participated. The contract is yet to be executed and the status of the same will be announced later.
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: