Nifty Sensex headed higher – Weekly closing report
Moneylife Digital Team 03 September 2021
We had mentioned in previous week’s closing report that Nifty, Sensex move would depend on global reaction to US Fed meeting. The major indices rallied this week and ended with major gains.
 
The trend of the major indices in the week is given in the table:
 
 
On Monday, the indices opened higher and made huge gains. On the NSE, there were 1,424 advances, 612 declines and 90 unchanged.
 
Bharti Airtel board approved capital raise of up to Rs 21,000 crore by issuing equity shares of face value of Rs 5 each as rights issue.
 
Larsen & Toubro’s construction arm won a slew of orders in India and abroad for its various businesses.
 
L&T Finance Holdings is in advance talks to sell its mutual fund arm to HSBC, after a long delay.
 
Axis Bank begun issuing tier-1 debt securities under a Rs 35,000-crore debt raise plan.
 
Burger King India entered into discussions to acquire a controlling stake in PT Sari Burger Indonesia, which manages and operates Burger King brand in Indonesia.
 
On Tuesday, the indices opened higher and continued its rally. On the NSE, there were 969 advances, 965 declines and 81 unchanged.
 
SRF board approved bonus issue of equity shares in the proportion of 4 shares of Rs. 10 each for every one share.
 
Telecom firm Bharti Airtel clarified the reports on likely investment by Google into the company as speculations.
 
L&T concluded the divestment of its 100% stake in three hydroelectric power plants in Uttarakhand for a consideration of 1,001.50 crores from Renew Power.
 
Kotak Mahindra Bank sold 20 crore shares in Airtel Payments Bank Ltd amounting to 8.57% stake to Bharti Enterprises for around Rs 294 crore.
 
On Wednesday, the indices opened higher but suffered a minor correction. On the NSE, there were 942 advances, 1,061 declines and 5 unchanged.
 
Bharat Heavy Electricals won six orders worth Rs 10,800 crore from NPCIL involving the setting up of four units of 700 MWe at Gorakhpur, Haryana and another two at Kaiga, Karnataka.
 
Vedanta announced a first interim dividend of Rs 18.50 per share.
 
Shoppers Stop sold its Crossword Bookstores to franchisee Agarwal Business House at a gross business valuation of Rs 41.62 crore.
 
Equitas Small Finance Bank (SFB) has tied up with Google Pay to enable the latter’s users to book fixed deposits with the bank on Google Pay app in under 2 minutes without having to open a bank account.
 
NCC has received one new order for Rs 877 crore from a state government agency.
 
On Thursday, the indices opened higher and closed with huge gains. On the NSE, there were 1,287 advances, 630 declines and 88 unchanged.
 
Aditya Birla Group (ABG) chairman Kumar Mangalam Birla met with Telecom Minister Ashwini Vaishnaw. The meeting comes at a time when the government is planning some relief measures for the telecom sector. 
 
Automobile manufacturer Mahindra and Mahindra will observe seven 'No Production Days' in September due to the supply shortage of semiconductors. 
 
Shares of Morepen Laboratories surged nearly 11% after it announced to transfer its medical devices business to a wholly owned subsidiary.
 
Just Dial board has approved the allotment of 2.12 crore equity shares of the company of face value of Rs 10 each fully paid-up by way of preferential allotment on a private placement basis for cash consideration to Reliance Retail Ventures at a price of Rs 1,022.25 per equity share aggregating to Rs 2,165 crore.
 
On Friday, the indices opened higher and closed with decent gains. On the NSE, there were 1,024 advances, 956 declines and 86 unchanged.
 
Aditya Birla Group (ABG) chairman Kumar Mangalam Birla met with Telecom Minister Ashwini Vaishnaw. The meeting comes at a time when the government is planning some relief measures for the telecom sector. 
 
Automobile manufacturer Mahindra and Mahindra will observe seven 'No Production Days' in September due to the supply shortage of semiconductors. 
 
Shares of Morepen Laboratories surged nearly 11% after it announced to transfer its medical devices business to a wholly owned subsidiary.
 
Just Dial board has approved the allotment of 2.12 crore equity shares of the company of face value of Rs 10 each fully paid-up by way of preferential allotment on a private placement basis for cash consideration to Reliance Retail Ventures at a price of Rs 1,022.25 per equity share aggregating to Rs 2,165 crore.
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