We had mentioned in the last week’s closing report that Nifty, Sensex were trendless. The major indices opened high and closed with gains. On the NSE, there were 1,017 advances, 768 declines and 359 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Anticipation of more economic reforms such as strategic divestment of state-run companies and tax cuts, helped to lift the S&P BSE Sensex to above the 40,000-mark for the first time in the last five months.
Vodafone Idea said it continues to pay all its debts as per schedule and has not approached any lender for debt recast. "We have not made any request for debt recast to any lender or asked for reworking of payment terms. We continue to pay all our debts as and when these fall due", The group has about Rs1.18 lakh crore of net debt, mounting losses and it has been losing subscribers as per TRAI data.
APL Apollo Tubes appointed Anubhav Gupta as Chief Strategy Officer (CSO). Gupta will focus on strengthening the company's strategic capabilities, while also identifying and evaluating innovative opportunities for APL Apollo in the longer run. Gupta will also be advising on corporate development, communications and marketing of the APL Apollo Brand.
Fund raise committee of PVR approved the issue and allotment of 29,08,583 equity shares to eligible QIBs at the issue price of Rs1,719.05 per share aggregating Rs500 crore. The share capital has increased to Rs51,29,08,450 comprising of 5,12,90,845 equity shares of face value of Rs10 each.
Tata Chemicals reported year-on-year 3% increase in revenues to Rs3,176 crore for the quarter ended September 2019. Net profits increased 10% y-o-y to Rs355 crore.
Indoco Remedies reported year-on-year 24% increase in revenues to Rs293 crore for the quarter ended September 2019. Net profits jumped to Rs7.81 crore from a loss of Rs7.45 crore reported in the corresponding period of previous year.
Graphite India reported year-on-year 61% decrease in revenues to Rs933 crore for the quarter ended September 2019. Net profits declined 83% y-o-y to Rs185 crore.
Phillips Carbon Black reported year-on-year 2% decrease in revenues to Rs869 crore for the quarter ended September 2019. Net profits declined 28% y-o-y to Rs77 crore.
The Ramco Cements reported year-on-year 11% increase in revenues to Rs1,332 crore for the quarter ended September 2019. Net profits increased 43% y-o-y to Rs172 crore.
Caplin Point Laboratories reported year-on-year 44% increase in revenues to Rs234 crore for the quarter ended September 2019. Net profits increased 22% y-o-y to Rs57 crore.
The operations at Shri Bajrang Alloys Ltd's Plant shall be temporarily shut down for maintenance and modification of Furnace from 30 October 2019.
There was a fire accident at Arrow Greentech factory situated at 5311 - GIDC, Ankleshwar on October 30 at around 10:45 a.m. The fire has been brought under control. The assets and goods damaged by the fire are adequately covered by insurance. The company is taking steps to ensure re-functioning of the plant at the earliest.
Hinduja Ventures has received approval for change in name of the company from 'HINDUJA VENTURES LIMITED' to 'NXTDIGITAL LIMITED'.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: