WEEKLY MARKET OVERVIEW
Benchmark indices in India closed lower in the previous week. The Benchmark
Nifty closed at 18114.90 levels down by approximately 220+ point for the week.
The Sensex closed at 60821.62 levels , approximately 450+ point down for the
week.
Institutional Activities
Significantly, foreign portfolio investors (FPIs) turned net sellers of Indian
equities in the week gone by while domestic institutional investors (DIIs) turned
net buyers. FIIs net sold Indian equities worth approximately INR 2697.70 crore
as on 22October, 2021. And, DIIs net bought Indian equities worth
approximately INR 1029.97crore.
HIGHLIGHTS
• Tata Chemicals: The company is considering selling its soda ash business in the U.S.
It’s seeking $1 billion or more for the asset. Tata Chemicals has reached out to private
equity firms and some industry groups to gauge interest, according to a Bloomberg
report.
• KEC International: The company has secured new orders of Rs 1,829 crore across
its various businesses.
• Wipro: To launch a Technology Business Management Practice as part of its
strategic relationship with Apptio. TBM provides technology leaders with valuable
insights, data and standards to communicate the cost, quality and value of technology
investments to business partners, the company said. Further it has partnered with
National Grid to drive data center consolidation and implement next generation
hybrid cloud architecture.
• Jindal Stainless (Hisar): The company has commissioned 26,000 tonnes per annum
capacity precision strip mill as part of the first phase of its latest brownfield expansion
plan at its specialty products division. This capacity expansion takes the total
precision strip production capacity to 48,000 TPA from the existing 22,000 TPA
• IRCTC: Railways to restart food services in Trains.
• Thomas Cook (India) and its group company SOTC Travel have partnered with Vistara to launch Vistara Getaways. The partnership will offer Vistara’s customers a diverse range of holidays at attractive prices
