Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 91.90 points at the opening bell on firm Asian stocks.
Overseas, Asian stocks gained after US President Donald Trump's measured response to North Korean missile launches and comments from Kim Jong Un suggested geopolitical tensions will ease off. North Korea's latest missile launch jolted the US stock market yesterday, 29 August 2017, but major indexes pulled back from those early losses and mostly finished higher as the weakening dollar gave technology and industrial companies a boost. North Korea had fired a ballistic missile over Japan yesterday, 29 August 2017 in an act the latter called an unprecedented, grave and serious threat.
Consumers confidence in US strengthened in August to the second highest level since late 2000, a survey released showed. The consumer confidence index rose to 122.9, up from 120 in the prior month, the Conference Board said.
US oil prices yesterday, 29 August 2017, settled at their lowest level in more than a month as refinery outages in the wake of Hurricane Harvey continued to spark fears of diminished demand for US oil.
Back home, Ministry of Finance said that excluding the taxpayers who have registered with the GSTN in August 2017 and the composition dealers, total number of tax payers who were required to file the returns for July 2017 is 59.57 lakhs, of which, as on 29th August, 2017, 38.38 lakh returns have been filed, which is 64.42% of the total number of returns, which are to be filed for the month of July 2017. The Goods and Services Tax (GST) tax was introduced on 1st of July, 2017.
The total revenue of GST paid under different heads upto 29th August, 2017 is Rs 92283 crore. The total CGST revenue is Rs 14894 crore, SGST revenue is Rs 22722 crore, IGST revenue is Rs 47469 crore (of which IGST from imports is Rs 20964 crore) and cess is Rs 7198 crore (of which Rs 599 crore is compensation cess from imports).
Key benchmark indices dropped over 1% yesterday, 29 August 2017 as sharp drop in European stocks and subdued Asian stocks weighed on sentiment on the domestic bourses. The Sensex lost 362.43 points or 1.14% to settle at 31,388.39, its lowest closing level since 22 August 2017.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 1459.64 crore yesterday, 29 August 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1391.33 crore yesterday, 29 August 2017, as per provisional data.
Among corporate news, Tata Power announced after market hours yesterday, 29 August 2017, that its 100% subsidiary, Tata Power Renewable Energy (TPREL), increased its generation capacity by 337% in the fiscal year ended March 2017 (FY17) as compared to the fiscal year ended March 2016 (FY16). TPREL generated 1440 million units (MUs) that from renewable energy sources (wind & solar) in FY17 as compared to 329 MUs in FY16.
TPREL is the primary vehicle through which Tata Power's investments in renewable energy capacity are driven. TPREL proposes to grow its capacity through organic and inorganic means over the next few years. TPREL completed commissioning of 100 MW wind farm at Nimbagallu, Andhra Pradesh and 50 MW Rojmal Phase-II in Gujarat and 15 MW solar plant in Belampally, Telangana in last quarter of FY17, Tata Power said in a statement.
HCL Technologies said that it has opened a new delivery center in Gothenburg, Sweden. The new centre will be a key hub in HCL's global delivery network, providing cutting edge transformational IT services as part of the global shares services model. In addition, the Gothenburg office will also become HCL's global headquarters for its mainframe services and automative centre of excellence. The announcement was made after market hours yesterday, 29 August 2017.
Reliance Industries proposed to make an offer for issuance of non-convertible debentures (NCDs series B) (2nd tranche) on private placement basis on Friday, 1 September 2017 aggregating Rs 2500 crore, to be listed on the Stock Exchanges. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business. The announcement was made after market hours yesterday, 29 August 2017.
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