We had mentioned in Wednesday’s closing report that Nifty, Sensex are turning up again. On Thursday, the major indices continued to rally. On the NSE, there were 1,090 advances, 720 declines and 312 unchanged.
The trends of the major indices in the course of Thursday’s trading are given in the table below:
Mahindra and Mahindra sales numbers for June showed an uptick in tractor demand. The auto company reported a 10% growth in total tractor sales at 36,544 units in June. The company sold 33,094 tractors in the same month of 2019.
Dilip Buildcon emerged as L-1 bidder through JV for an EPC project for the tender floated by the Narmada Water Resources, Water Supply and Kalpsar Departnent (Water Resources) on EPC basis in the state of Gujarat. The Rs 4,167.70 project is an EPC contract for construction of Bhadbhut barrage, flood protection embankments and associated works across river Narmada near village Bhadbhut of Bharuch district.
Axis Bank is planning to raise up to Rs 15,000 crore through the issue of equity shares/depository receipts and/or any other instruments or securities, the bank said in an exchange communication.
The US FDA has removed exemption given to IPCA Laboratories after the shortage implications for Hydroxychloroquine Sulphate changed and now it has been removed from list of drug products in shortage.
ONGC stock price gained after a media report said that India's latest oil and gas block bid round attracted only 12 bids for the 11 areas on offer, with 10 of them getting single bids from state-owned ONGC and Oil India Ltd, upstream regulator DGH said. According to the Directorate General of Hydrocarbons (DGH), the 11 blocks on offer got a total of 12 bids - seven bids by Oil and Natural Gas Corp (ONGC) and four by Oil India Ltd (OIL). Invenire Petrodyne Ltd was the only private bidder.
Tata Power board approved issuance of up to 49,05,66,037 equity shares of face value of Re 1 to Tata Sons, the promoter of the company, on a preferential basis at a price of Rs 53 per equity share aggregating to Rs 2,600 crore. The board also gave in-principle approval for setting up of an Infrastructure Investment Trust (InvIT) for the company’s renewables business.
MOIL has fixed/revised prices of different grades of manganese ore and other products, effective from July 1 while that of the prices of all Ferro grades and Fines have been reduced by about 15% with effect from July 1 on the prices prevailing since June 1.
The CBI has booked Venkata Krishna Reddy Gunupati, chairman of the GVK Group of Companies, and his son GV Sanjay Reddy, managing director of Mumbai International Airport Ltd, among others, for alleged irregularities to the tune of Rs705 crore in running of the airport.
IDBI Bank has said it will sell part of its stake in IDBI Federal Life Insurance to Belgian multinational insurance company Ageas Insurance and Federal Bank. Ageas will acquire 23 percent stake, while Federal Bank will buy 4 percent.
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: