We had mentioned in Monday’s closing report that Nifty, Sensex upmove may continue. The major indices went up a bit today. On the NSE, there were 1,337 advances, 472 declines and 316 unchanged. The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
Tata Metaliks has announced that the second blast furnace and its associated facilities in Kharagpur will undergo a planned shutdown, for maintenance and overhauling from September 12, 2019 at 10.00 a.m. The operations are expected to be back on stream from September 16, 2019 at 10.00 p.m.
Bank of Baroda has issued unsecured, redeemable 7.75% basel-3 compliant tier-2 bonds - Series XXII of face value of Rs10 lakh each. The bank has raised Rs500 crore through issue of 5000 bonds.
Directors of L&T Finance Holdings approved issuance of up to one crore cumulative compulsorily redeemable non-convertible preference shares aggregating to a nominal amount of up to Rs100 crore on a private placement basis at the dividend rate of 7.95% p.a. payable annually. The shares will be listed on the BSE.
Tata Motors Group’s global wholesales in August 2019, including Jaguar Land Rover, were at 72,464, lower by 32%, over August 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in August 2019 were at 25,366, lower by 45%, over August 2018. Global wholesales of all passenger vehicles in August 2019 were at 47,098, lower by 22%, compared to August 2018.
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned the 1320 MW IB Thermal Power Station (2x660MW). Located in Jharsuguda district of Odisha, the project is owned by Odisha Power Generation Corporation Limited (OPGC), a joint venture company of the Government of Odisha and AES, a US-based energy company. Previously, BHEL had set up two units of 210 MW at IB Thermal Power Station which are in operation for more than 20 years.
India Ratings & Research (Ind-Ra) have assigned the credit ratings to I G Petrochemicals. Term Loan rating has been affirmed as INDA+/Stable; long term borrowings has been assigned INDA+/Stable rating; bank facilities rating has been affirmed as INDA+/Stable/IND A1+.
Sanofi India has approved sale and transfer of its manufacturing facility at Ankleshwar, Gujarat to Zentiva and its legal entity in India, Zentiva Private Limited for a consideration of Rs2,617 million, subject to customary working capital adjustments. This transaction is subject to shareholders' approval and the completion of certain conditions as defined under the business transfer agreement.
The Board of NHPC will meet on 17 September 2019 to consider the proposal for raising of debt up to Rs2,500 crore through issuance of corporate bonds in one or more series/tranches on private placement basis and other options.
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: