A Full-blown ‘Bull Market’?
The auto-components business has been doing badly for a couple of years. Varroc Engineering, an auto-components maker, reported a loss of Rs380 crore in the June quarter following a loss of Rs138 crore in the March quarter. That has, of course, nothing to do with the stock price. The stock was up 67% in a week, locked in upper circuit on Friday, 21st August. Shaily Engineering was...
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  • Nifty, Sensex may be under some pressure – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex were still trapped in a range, and possibly headed lower. The major indices posted some gains this week. The trend of the major indices in the week is given in the table:
     
     
     
    On Monday, the major indices were range bound and closed with minor gains. On the NSE, there were 1,153 advances, 684 declines and 361 unchanged.
     
    Glenmark Pharmaceuticals reported consolidated net profit of Rs254.04 crore for the quarter ended June 2020, compared to Rs109 crore YoY. Consolidated revenue stood at Rs 2,344.78 crore for the first quarter as compared to Rs 2,322.87 crore in the year-ago period.
     
    NTPC reported a 5.9% YoY fall in consolidated net profit at Rs 2,948.94 crore against Rs 3,132.73 crore in the corresponding quarter a year ago.
     
    Revenues fell slightly to Rs26,195 crore against Rs26,886 crore YoY.
     
    Britannia Industries declared interim dividend of Rs 83 per equity share of face value of Re 1 each for FY2020-21. The record date has been fixed as August 27, 2020.
     
    On Tuesday, the major indices rallied and posted major gains. On the NSE, there were 1,294 advances, 518 declines and 372 unchanged.
     
    Zee Entertainment Enterprises consolidated net profit went down 94.3% YoY to Rs 30.4 crore against Rs 530.6 crore. Consolidated revenue was down 34.7% YoY to Rs 1,312 crore against Rs 2,008 crore.
     
    SBI Cards and Payment Services board has approved the allotment of 5,000 fixed-rate, unsecured, redeemable, non-convertible debentures aggregating to Rs 500 crore on private placement basis.
     
    Petronet LNG reported an 11% YoY decline in consolidated net profit to Rs 499.79 crore compared to Rs 561.94 crore in the year-ago.
     
    On Wednesday, the major indices closed with minor gains. On the NSE, there were 1,212 advances, 664 declines and 98 unchanged.
     
    Reliance Industries subsidiary Reliance Retail Ventures (RRVL) has acquired a majority equity stake in Vitalic Health (Vitalic), owner of website NetMeds, for a cash consideration of approximately Rs620 crore. This investment represents 60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, viz: Tresara Health, Netmeds
     
    Market Place and Dadha Pharma Distribution. 
     
    Yes Bank said it has repaid Rs 35,000 crore to the central bank out of the total special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support.
     
    Ruchi Soya Industries reported 13% YoY decline in net profits for June quarter at Rs12.25 crore. Revenues declined 2% YoY to Rs3,057 crore.
     
    On Thursday, the major indices opened low and closed with major losses. On the NSE, there were 1,029 advances, 806 declines and 352 unchanged.
     
    Aarti Drugs approved the issuance of fully paid-up bonus share in the ratio of 3:1 i.e. 3 (three) bonus equity share of Rs 10 each for 1 (one) fully paid-up equity share of Rs 10 each.
     
    Adani Power is in early discussions with OPG Power Ventures to acquire a 414-megawatt coal-fired plant near Chennai, likely valued at Rs 1,000-1,200 crore.
     
    The Centre is planning to sell 5% stake in state-owned defence player Hindustan Aeronautics (HAL) via an offer for sale in August.
     
    On Friday, the major indices posted some gains. On the NSE, there were 1,191 advances, 635 declines and 362 unchanged.
     
    GMM Pfaudler acquired 54% stake in its parent firm Pfaudler Group for a consideration of around $27.4 million. It has signed definitive agreements to acquire a majority stake in Pfaudler Group from the private equity firm Deutsche Beteiligungs AG Fund VI (DBAG) for the stake.
     
    Phoenix Mills raised Rs 1,100 crore from institutional investors through a qualified institutional offering (QIP).
     
    Maharashtra Seamless reported 75% YoY fall in net profits for June 2020 quarter at Rs19.17 crore. Revenues declined 33% YoY to Rs475.74 crore.
     
  • User 

    Weekly Moneylife Indices & Sector Trends
    INDIAN MARKET TRENDS
    From 14th August to 20th August, ML Small-cap Index rose 6%. ML Mid-cap Index and ML Large-cap Index rose 5% each. ML Micro-cap Index, ML Mega-cap Index rose 4% and 2%, respectively. The Sensex and the NIFTY rose 1% each.
     
     
    FUND FLOWS
    Foreigners: Foreign institutional investors were net buyers of equities during the period (Rs1,658.02...
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