Monday, September 21
The government will scrutinise recent agreements of domestic electronics contract manufacturer Dixon with Chinese firms Chongqing Yuhai and Kunshan Q Technology.Dixon has signed separate agreements with Chinese electronic component firms -- Chongqing Yuhai Precision Manufacturing Co Ltd and the Indian arm of Kunshan Q Technology -- for manufacturing and sales of electronic components used in electronic devices like mobile phones and laptops, among others."Due process will be followed when their application comes under Press Note 3 rules," an official said.With Chongqing Yuhai Precision Manufacturing Co Ltd, Dixon plans to set up a joint venture for the business of manufacturing and supply of precision components for laptops, mobile phones, IoT, automotive and any other products.Dixon is li
Market SummaryIndian market closed flat with a positive bias on Wednesday. The BSE Sensex rose more than 60 points while the Nifty50 closed above 25200 levels.Sectoral SummarySectorally, buying was seen in auto, FMCG, realty, and IT stocks while selling was seen in healthcare, capital goods and metal stocks.Breakout StocksStocks that hit fresh 52-week high include names like Biocon which rose more than 1%, RBL Bank rose 2% and HDFC AMC was up 1.3% on Wednesday.Analyst CallWe spoke to an analyst on how one should look at these stocks for the next trading day, entirely from an educational point of view:Analyst: Sanket Thakar, CMT, Founder – Alpha Bot CapitalBioconBiocon has faced rejection from the previous active supply zone for the fourth time now, acting as a strong resistance area. Ide
The board of Reliance Infrastructure on Wednesday approved a Rs 6,000 crore fundraising plan through the Qualified Institutional Placement (QIP) and other modes. The Anil Ambani-promoted company plans to raise funds through the issuance of equity shares or equity linked instruments to qualified institutional buyers (QIBs).The company informed about the development via filing to the exchanges. The decision was taken in a meeting held today after market hours.The company's board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise.Apart from Reliance Infra, the board of Reliance Power also approved a Rs 6,000 crore worth fundraising plan via the QIP or follow on public offe
