The BSE Mid-cap Index is trading up 0.38% at 10,647, whereas BSE Small-cap Index is trading up 0.72% at 11,246.
The BSE Mid-cap Index is trading up 0.38% at 10,647, whereas BSE Small-cap Index is trading up 0.72% at 11,246.
A lot of perseverance will be needed if the government has to get the numbers to pass the GST Bill. On Wednesday, the selling pressure intensified with Nifty just managing to hold on to the 7600 mark. Nifty is heading towards September lows of 7540 and if it is unable to find any meaningful support around those levels, no immediate respite is likely in the ongoing bear onslaught.
Global cues are not supporting at all as US indices have come tumbling down along with crude-oil prices. The Dow Jones fell 0.43%, the S&P 500 dropped 0.77% and Nasdaq lost -1.48%. Asian markets too are mostly in the red. Real estate stocks will be in focus after the cabinet approved 20 major amendments to the real estate regulatory bill. This may well help protect home buyers as well as encourage growth in investments in the real estate industry. The rupee could again be weak for the day. The developments in Parliament will remain on investor’s radar.
International Tractors Ltd. (ITL), the makers of Sonalika tractors, is planning to raise as much as Rs.1,200 crore through an initial public offering (IPO), according to a business daily. ITL has been in talks with investment banks for the last few months and is currently in the process of hiring merchant bankers for handling the IPO process, reports the daily. Global private equity firm Blackstone Group, which invested US$100 million for a 12.5% stake in ITL in 2012, is looking to make a partial exit through the IPO, according to the newspaper.
Two American senators have introduced a legislation, seeking to cut the number of H-1B work visas by 15,000, according to various media reports. Co-sponsored by senators Bill Nelson (Democrat) and Jeff Sessions (Republican), the bill seeks to ensure that such visas are given to the highest wage earners first. The legislation would require the Department of Homeland Security to prioritise the allocation of these remaining 70,000 H-1B visas to foreign workers based on their salary.
After revision of base year of National Accounts from 2004-05 to 2011-12, growth rate of different sectors is measured in terms of growth rate of Gross Value Added (GVA) at Basic Price in that sector. The growth rate of GVA at Basic Price at constant (2011-12) prices in manufacturing during Q4 (January-March) 2014-15, Q1 (April-June) 2015-16 and Q2 (July-September) 2015-16 was 8.4 %, 7.2 % and 9.3 % respectively.
Express delivery and supply chain management company Gati Ltd. plans to enter the e-commerce business through a separate entity, according to media reports.
The initial public offering of Alkem Laboratories was oversubscribed 1.41 times on the second day of the offer today.
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