The market closed flat today due to pressure from a profit recovery. But Nifty has managed to stick to 11450. The Sensex gained 14 points to close at 38,855 today. Nifty gained 15 points to close at 11,464. Nifty Bank gained 14 points to close at 22,480. The midcap is up 113 points at 16,766.
IT, Realty and FMCG Shares are seen Buying
The RVNL company’s revenue in the first quarter increased from 2850 Cr to Rs 2910 crore. The company’s profit has come down from 180 Cr to Rs 140 crore. The Nifty IT index appears to be at a record high on the back of excellent buying in IT stocks. In weak markets, IT, Realty and FMCG shares are seen buying. Jubilant Food, Britannia, Kolte Patil and DLF are seeing gains of 1.5 to 2 percent.
Dollar, Gold and silver
The rupee has weakened 6 paise to close at 73.53 against 73.47 against the dollar. There is a sharp decline in gold and silver today. Gold has slipped about 1 percent in the domestic market, while silver has fallen nearly 1.5 percent to below 68 thousand. Gold and silver have weakened due to a recovery in the dollar. However, gold and silver are still supported by concerns about the global recovery.
Adani Ports and APSEZ has raised RS 900 Crore
Adani Ports and Special Economic Zone (APSEZ) has raised Rs 900 crore through non-convertible debentures (NCDs). The company told the stock market in its filing that the money had been raised by issuing NCDs on a private placement basis. The company said it raised Rs 900 crore on Friday by issuing 9,000 listed and redeemable NCDs worth Rs 10 lakh. It said that these NCDs will be listed in the wholesale debt market segment on the Bombay Stock Exchange (BSE).
APSEZ holds 24% of the Country’s Total Ports
APSEZ, the country’s largest logistics company, has 11 ports and terminals located at strategically important locations. These are located at Mundra, Dahej, Kandla and Hazira in Gujarat as well as Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh and Kattupalli and Ennore in Chennai. The company holds 24% of the country’s total ports. The company is developing a transshipment port at Vizhinjam in Kerala and a container terminal in Myanmar.
Adani Group holds 74% stake in Mumbai Airport
Recently, the Adani Group announced that it would acquire a 74% stake in Mumbai Airport. On acquiring such a large stake in Mumbai Airport, industrialist Gautam Adani said, “Mumbai International Airport is completely world-class and I applaud GVK Airport developers for building such an excellent airport.” After the completion of the deal, the Adani Group’s stake in Mumbai Airport will be 74% with a 50.50% stake in GVK. Gautam Adani Group aims to become the country’s largest airport operator. Mumbai Airport is the second busiest airport in the country.