Out of 10 most valued Indian companies, seven companies together gained Rs 63,443.82 crore in market capitalization (M-cap) last week, with Reliance leading the pack with the maximum rise.HDFC, Maruti Suzuki India, and HDFC Bank suffered losses in their m-cap for the week ended Friday and the rest are witnessed rise that includes ITC, TCS and Hindustan Unilever Limited.
Benchmark indices opened higher on Tuesday following the optimistic cues from the Wall Street’s record of Friday’s closing. BSE Sensex rose 187 points to open at 31,421 levels while NSE Nifty added rose 55 points to 9843 levels.
The RBI’s 2-day bi-monthly policy meeting will be starting from today. The result of RBI policy meeting and investment trend of overseas investors, macro-economic data points will dictate the Indian stock markets this week. Meantime, FPIs pulled out over Rs 11,000 crore from stock markets in September 2017.
The BSE Sensex and NSE Nifty open flat to lower on Monday as cues from Asian markets are mixed. The Indian rupee opened little changed against the USD. Markets may witness volatility during this week ahead due to derivatives expiry next week and the recent spike in worries on the Korean peninsula.
Bajaj Finance Ltd has launched a Rs. 4,500 crore QIP fundraising, at the floor price of Rs.1,777.9 per share to set a new record this year.
Qualified Institutional Placement (QIP) is a fund raising tool by which listed firms can sell equity shares, fully & partly convertible debentures that are convertible into stocks to a qualified institutional buyer. The company has set a floor price of Rs 1,777.9 per share for the share sale and is offering a discount of up to 5 percent on the floor price.