Axtel Industries: Steady Growth
Axtel Industries (Axtel) is a supplier of process engineering equipment and turnkey systems to the food and pharmaceuticals industries. It was set up in 1991 to manufacture food processing equipment for solid handling, size reduction, mixing & blending, storage & discharge, cleaning & grading, etc. 
 
Axtel offers complete process plants, as well as individual equipment, covering...
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  • Nifty, Sensex undecided – Tuesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex may come under pressure.
     
    The major indices opened high on global cues and ended with minor gains. On the NSE, there were 793 advances, 972 declines and 386 unchanged.
     
    The trends of the major indices in the course of Tuesday’s trading are given in the table below:
     
     
    Sensex added 400 points during the early trade over reports of Chinese workers returning to factories and a drop in new Coronavirus cases.
     
    The Supreme Court declined to pass any order on the plea of Noida Authority seeking claim over 277 acre surplus land allocated to crisis-hit Unitech Ltd on lease for developing housing complexes, which were, however, not built. The total worth of the land is nearly Rs.8,000 crore.
     
    Union Bank of India’s standalone net profit stood at Rs574.58 crore for the quarter ended December 31, higher than the Rs153.21 crore reported in the same period last year. Net interest income for the Q3 FY20 increased by 25.7% to Rs3,134 crore as compared to Rs2,493 crore in Q3 FY19.
     
    Infosys will acquire Simplus, an advisor in cloud consulting, implementation, data integration, change management and training services for Salesforce Quote-to-Cash applications.
     
    GAIL clocked net profit of Rs1,251 crore for the December 2019 quarter. The company has issued a swap tender offering two cargoes of liquefied natural gas (LNG) for loading in the United States and seeking one for delivery to India.
     
    Avenue Supermarts raised Rs.4,098 crore after it issued and allotted 2 crore shares at an issue price of Rs2,049, under a qualified institutional placement, to several investors which included Lone Cypress and the Singapore Government.
     
    Sundaram Finance reported a 3.8% year-on-year rise in net profits at Rs252.90 crore for the quarter ended December 31, 2019. Total income declined to Rs1,338.29 crore in the period under consideration, from over Rs2,224.57 crore a year-ago.
     
    Shares of Lakshmi Vilas Bank rose after reports of a US fund house Tilden Park Capital Management’s interest in buying a sizeable stake in the bank. Officials of the two firms recently met with the RBI to explore the possibility.
     
    Cipla Medpro South Africa secured originator and authorised generic brands of an atypical anti-psychotic drug, Quetiapine. The agreement involves AstraZeneca Pharmaceuticals and Luye Pharma Hong Kong. The transaction allows Cipla Medpro to market and distribute the medicine in South Africa and neighbouring countries.
     
    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:
     
  • User

    Nifty, Sensex may come under pressure – Monday closing report
    We had mentioned in last week’s closing report that Nifty, Sensex rose on the back of strong institutional buying. The major indices opened lower and ended with minor losses. On the NSE, there were 684 advances, 1,140 declines and 348 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
     
     
    Indian equity indices opened in the red with Sensex falling over 200 points and Nifty also trading in the negative.
     
    Motherson Sumi Systems reported a 38.67% year-on-year decline in consolidated net profits to Rs.340.32 crore for the quarter ended December 2019. Total income fell 4.8% to Rs.15,739.38 crore.
     
    Auto industry body SIAM reported that domestic passenger vehicle sales had slipped by 6.2% from 280,091 units in January 2019 to 262,714 units last month.
     
    Bharat Electronics would strengthen the coastal surveillance system for the Indian Coast Guard (ICG) to heighten the country's maritime security. The coastal surveillance system (CSS) comprises a network of remote radar stations with sensors, electro optics, meteorological and VHF (very high frequency) radio communication units integrated with the command and control centres.
     
    Balrampur Chini Mills reported a 40% YoY fall in net profits to Rs72.50 crore for the quarter ended December 2019. Total income rose 25% to Rs.1,202.60 crore.
     
    JMC Projects India reported 2.55% YoY increase in net profits to Rs20.91 crore for the quarter ended December 2019. Total income rose 3.46% to Rs.971.96 crore.
     
    Cadila Healthcare’s topical manufacturing facility in Ahmedabad received an Establishment Inspection Report (EIR) from the USFDA with zero 483 observations.
     
    Dilip Buildcon reported 50.75% YoY fall in net profits to Rs88.07 crore for the quarter ended December 2019. Total income dropped 1% to Rs.2,574.32 crore.
     
    The government is set to privatise Central Electronics, a Central Public Sector Enterprises under the Department of Science and Technology, by selling its 100% stake with management control. Expression of interest are welcomed by March 16. The interested bidders (which can also include employees of CEL) must have a minimum net worth of Rs.50 crore as on March 2019.
     
    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:
     
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