We had mentioned in Monday’s closing report that Nifty, Sensex crashed due to extension of lockdown and in response to the economic package.
On Tuesday, the major indices opened high after a monster overnight rally in the US, when Dow was up by over 900 points, but corrected and ended with minor gains. On the NSE, there were 793 advances, 953 declines and 365 unchanged.
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Bharti Airtel reported a net loss of Rs 5,237 crore for the quarter ended in March 2020 due to impairment of assets. It had posted a consolidated loss of Rs 1,035.3 crore in the December quarter and a profit of Rs 107.2 crore in the March quarter in 2019. Its operating results were good which is why the stock was up more than 11%.
Tata Consumer Products said it would acquire PepsiCo’s stake in NourishCo Beverages, a 50:50 JV between the two companies.
Vedanta’s board has approved the de-listing from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
KEC International secured new orders of Rs 1,203 crore across its various businesses. Its transmission & distribution (T&D) business and SAE Towers have secured orders of Rs 917 crore. Its civil business has secured orders of Rs 176 crore.
Natco Pharma donated chloroquine phosphate tablets via its marketing partner, Rising Pharmaceuticals, in the US to protect frontline healthcare workers from the COVID-19 infection.
Laurus Labs received an approval from the US Food and Drug Administration under President's Emergency Plan for AIDS Relief for two abbreviated new drug applications (ANDAs), TLE 400 and TLE 600 tablets.
Nesco reported 3.06% rise in net profits on year-on-year basis for the March 2020 quarter, at Rs52.91 crore. Revenues rose 22.91% y-o-y to Rs131.29 crore.
Gabriel India reported 53.73% rise in net profits on year-on-year basis for the March 2020 quarter, at Rs26.58 crore. Revenues declined 16.61% y-o-y to Rs427.80 crore.
Lupin announced the launch of authorized generic version of Bausch Health's Apriso (Mesalamine Extended-Release Capsules 0.375 g) in the U.S. The capsules are indicated for the maintenance of remission of ulcerative colitis in patients 18 years of age and older.
Steel Strips Wheels has bagged firm exports orders for over 50,000 wheels for EU Caravan Trailer Market to be executed in July & August from its Chennai plant. This marks beginning of orders for new semester for this year indicating re-start of operations in EU post Covid lockdown.
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: