We had mentioned in Wednesday’s closing report that Nifty, Sensex were on the rise. The major indices were volatile and closed with gains. On the NSE, there were 968 advances, 865 declines and 112 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
India Bulls Housing Finance shot up 24.65% after the Ministry of Corporate Affairs found no irregularities in loans extended by the NBFC to five companies, as alleged by a public interest litigation. In an affidavit to the Delhi High Court, the MCA revealed that the loans extended to ADAG, DLF, Amricorp had been repaid and those given to Vatika and Choridia were ‘standard accounts’.
Sensex and Nifty opened higher but gains were capped ahead of the GDP figures to be released on Friday.
Tata Communications has partnered with Kacific Broadband Satellites Group to provide connectivity and cyber security services to the Singapore-based company.
Reliance Industries became the first Indian company to hit the Rs10 lakh crore milestone in market capitalisation, after its shares rose to a record high of Rs1,581 apiece. Reliance Industries will set up a wholly-owned subsidiary namely Jio Platforms Limited for digital platform initiatives.
Edelweiss Housing Finance announced a strategic agreement with Bank of Baroda India's for co-lending of home loans to self-employed entrepreneurs and salaried customers. This partnership involves sharing of risks and rewards between EHFL and Bank of Baroda and aims to create a conducive lending environment for home-loan seekers.
Fitch Ratings has assigned Manappuram Finance’s long-term foreign- and local-currency issuer default ratings (IDR) of 'BB-'. The outlook is stable. Fitch has also assigned MFIN's $750 million medium-term note (MTN) programme a 'BB-' rating. MFIN plans to issue US dollar notes under the MTN programme. The notes will be secured by MFIN collateral and at all times rank pari passu and without any preference among themselves.
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: