We had mentioned in Wednesday’s closing report that Nifty, Sensex were moving sideways. The major indices opened high and closed with gains. On the NSE, there were 1,058 advances, 715 declines and 369 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
Sensex and Nifty opened higher on Thursday ahead of the release of key macro figures -- CPI and IIP -- later in the day.
Navin Fluorine International is planning a capex program at Dahej (Gujarat) through a wholly owned subsidiary with an estimated aggregate capital outlay of over Rs.450 crores over the next 3 - 4 years. The board has initially approved capital expenditure of approx. Rs.90 crores for site development and related infrastructure on approx. 74 acres of land for greenfield projects.
Electronics major Samsung India is renewing its focus on the air conditioner (AC) business in India and aims to become the top player in the country by 2022, a senior company executive said. To achieve this target, Samsung is aiming to double its AC business every year over the next two years and expand its product portfolio.
The government ruled out any plans to sell stake or disinvestment of ailing telecom PSUs -- BSNL and MTNL in the Parliament while fixing a target of Rs200 crore and Rs300 crore for them from their asset monetisation in the current fiscal.
The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles, has announced the filing of a class action lawsuit against Infosys. According to the complaint, Infosys made false and misleading statements to the market and used improper recognition of revenue to boost short-term profits. This comes months after a whistleblower complained against Infosys and its CEO Salil Parekh on the similar lines. However, the company later after an investigation said it could not find the evidence.
Bank of Baroda has issued and allotted 65.14 crore equity shares aggregating to Rs.7,000 crore to Government of India on preferential basis.
CRISIL has downgraded its rating on the non-convertible debentures of HT Media to 'CRISIL AA/Stable' from 'CRISII AA+/Negative'. The rating action factors in weakening of business risk profile over the medium term. Revenue and profitability continue to be constrained by sluggish ad volumes owing to low economic activities, despite increase in ad yield across various categories and softening of newsprint prices.
Sterling & Wilson Solar Australia has executed a definitive contract for engineering, construction and procurement for a 144 MW DC solar farm in Australia amounting to approx. Rs827 crore.
Hikal Ltd's pharmaceutical facility located at Panoli, Gujarat was recently inspected by the U.S. Food and Drug Administration (US FDA) in compliance with their requirements. The five-day detailed inspection was carried out during the period September 9 - 13, 2019. The inspection confirmed the site to be compliant with the principles and guidelines of Current Good Manufacturing Practices (CGMP).
Arman Financial Services will raise Rs125 crore through one or more qualified institutions placement.
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: