The Asian stock markets have opened the day on a mixed note with markets in Hong Kong (down 0.2%) bearing the maximum brunt while Japan was leading the gains (up 0.3%). US stocks closed the session on a positive note while European stock markets closed their session on a mixed note. The rupee is trading at 63.55 per US dollar.
As per a leading financial daily, the Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 850 bn this financial year. This amount will be raised by the company through issue of redeemable non-convertible debentures (NCDs) which will be either secured or unsecured. HDFC is also planning to raise US$500 m through External Commercial Borrowings (ECBs) and has received the approval for the same from the Reserve Bank of India (RBI). Stock of HDFC has opened the day on a negative note.
Cement stocks have opened the day on a negative note. As per a leading financial daily, cement major ACC has reported a 45% decline in its consolidated net profit for the second quarter ended June 30. As reported by the company, this fall was on account of challenging market conditions and subdued demand. The total consolidated income fell marginally 1.5% in the concerned period. Presently the stock of ACC is trading down by 2.7%.