Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 2 points at the opening bell. Overseas, Asian stocks were trading lower as Treasury yields climbed back toward recent four-year highs. Chinese markets will reopen on Thursday, 22 February 2018. US markets remained closed yesterday, 19 February 2018 in observance of Presidents Day. Back home, trading for the week started on a subdued note as key indices logged modest losses yesterday, 19 February 2018 as sentiment was marred by loan fraud cases in the PSU banks. The Sensex lost 236.10 points or 0.69% to settle at 33,774.66. The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 895.79 crore yesterday, 19 February 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 586.52 crore yesterday, 19 February 2018, as per provisional data. Among corporate news, Mahindra & Mahindra (M&M) announced that it would make an additional investment at its Chakan plant in Maharashtra. As part of its expansion plans, the company will invest over Rs 500 crore in its electric vehicle (EV) project under the new EV policy of the Government of Maharashtra. The investment for EV and EV components is in addition to its ongoing expansion plan in Chakan which includes an initial investment of Rs 6500 crore. This additional investment of Rs 500 crore will be utilized towards product development and capacity enhancement for EVs and related components. The announcement was made after market hours yesterday, 19 February 2018. Sun Pharmaceutical Industries (Sun Pharma) said that one of its wholly owned subsidiaries has increased its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of further purchase of 3.86 lakh shares (equivalent to 4.84%) of Ranbaxy Malaysia Sdn Bhd. Post completion of this purchase of shares, the total holding of Sun Pharma alongwith its wholly owned subsidiary will increase from 85.9% to 90.74% in Ranbaxy Malaysia Sbn Bhd. The announcement was made after market hours yesterday, 19 February 2018. Powered by Capital Market - Live News |