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: