Bullishness in Nifty, Sensex Continues – Tuesday closing report
We had mentioned in previous week’s closing report that Nifty, Sensex continues to trend up. On Tuesday, the major indices were buoyant and closed with decent gains. On the NSE, there were 1,062 advances, 804 declines and 360 unchanged.
 
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Tata Steel reported a 59.6% fall in net profit during Q2FY21 (July-September 2020 quarter) at Rs 1,635.4 crore, against Rs 4,043.5 crore YoY. Revenues rose 7% YoY to Rs37,154 crore compared to Rs34,579 crore YoY.
 
Eveready Industries India reported over three-fold jump in consolidated net profit to Rs 57.22 crore compared to Rs 18.11 crore YoY. Revenue went up 6.95% to Rs 372.62 crore compared to Rs 348.40 crore YoY.
 
Embassy REIT has agreed to purchase Embassy TechVillage assets from affiliates of Embassy Sponsor, Blackstone Sponsor and other selling shareholders for a total consideration of $1.3 billion. 
 
NBCC (India) has secured the total business of Rs. 1165.52 crore in the month of October, 2020.
 
The government said several local and foreign investors have expressed interest in buying its 52.98% stake in BPCL and it will not extend the deadline for private firms submitting initial bids.
 
ONGC reported 54.6% fall in Q2FY21 net profit at Rs 2,877.8 crore as against Rs 6,336.2 crore YoY. Revenue declined 30.9% to Rs 16,917 crore from Rs 24,492.6 crore YoY.
 
Sadbhav Engineering Q2FY21 net profit declined to Rs 5.2 crore from Rs 25.8 crore. Revenue fell 27.1% to Rs 412.2 crore from Rs 565.1 crore YoY.
 
Lenders to bankrupt financier Dewan Housing Finance are likely to call for fresh bids after the Adani group unexpectedly offered a higher price for the company’s assets. In the revised bids, Piramal Enterprises offered Rs 25,000 crore for DHFL’s retail book, while Oaktree bid Rs 31,000 crore for the entire company. Adani had bid around Rs 2,700 crore for the wholesale/slum redevelopment authority (SRA) books only.
 
Mahindra & Mahindra’s farm equipment sector announced that it will manufacture a new tractor series called the 'K2', exclusively at the company's tractor manufacturing facility at Zaheerabad in the state of Telangana.
 
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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    Nifty, Sensex continues to trend up – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex may log more gains. The major indices rallied this week and closed with major gains.
     
    The trend of the major indices in the week is given in the table:
     
     
    On Monday, the major indices continued its rally and posted major gains. On the NSE, there were 1,119 advances, 729 declines and 382 unchanged.
     
    BHEL reported consolidated net loss for Q2FY21 at Rs 552.38 crore against profit of Rs 120.95 crore YoY. Revenue went down 40.6% YoY at Rs 3,695.96 crore versus Rs 6,226.90 crore.
     
    Union bank of India reported a net profit at Rs 517 crore in Q2FY21 compared to net loss of Rs 1,194 crore YoY. Net interest income nearly doubled to Rs17,913 crore compared to Rs9,688 crore in the previous year.
     
    ITC registered a 19.7% decline in Q2FY21 profit at Rs 3,232.4 crore compared to Rs 4,023.1 crore YoY. Revenue from operations grew 0.9% to Rs 11,976.8 crore in the quarter ended September 2020. Segment wise sales from cigarette declined 3.9% YoY at Rs 5,121.3 crore.
     
    On Tuesday, the major indices continued its rally and posted major gains. On the NSE, there were 857 advances, 1,016 declines and 348 unchanged.
     
    Pfizer said its vaccine shots maybe 90% effective at preventing COVID-19, indicating the company is on track later this month to file an emergency use application with US regulators.
     
    Motherson Sumi Systems net profit for the July-September 2020 quarter (Q2FY21) declined 12.2% YoY (year-on-year) at Rs 337.6 crore against Rs 384.6 crore. Revenue fell 2% YoY at Rs 14,957.2 crore against Rs 15,259.7 crore in the year ago period.
     
    Mahindra & Mahindra Q2FY21 net profit slumped 88% at Rs 162 crore against Rs 1,354.8 crore YoY. Revenue rose 6% at Rs 11,590 crore against Rs 10,935 crore YoY.
     
    Hindalco Industries standalone net profit was Rs 198 crore against Rs 78 crore YoY. Standalone revenue was down 4.5% at Rs 9,518 crore against Rs 9,965 crore YoY.
     
    On Wednesday, the major indices were volatile but managed to close with some gains. On the NSE, there were 1,001 advances, 820 declines and 401 unchanged. 
     
    Bharat Forge reported consolidated net loss of Rs 13.2 crore in Q2FY21 against profit of Rs 205.4 crore YoY. Consolidated revenue fell 36.2% at Rs 1,376 crore against Rs 2,155.2 crore YoY.
     
    Godrej Industries Q2 net profit fell 44.8% YoY at Rs 205.3 crore against Rs 372.2 crore YoY. Revenue was down 9.2% at Rs 2,386.3 crore against Rs 2,628.7 crore.
     
    Coal India net profit for Q2FY21 fell 16% to Rs2,948 crore compared to Rs3,522 crore YoY. Revenue rose slightly by 1% to Rs22,237 crore from Rs22,012.94 crore.
     
    On Thursday, the major indices broke its rally and faced a minor correction. On the NSE, there were 1,115 advances, 713 declines and 395 unchanged.
     
    ICICI Bank said it has seen a significant pick-up in home loan disbursements in October. Bank's mortgage loan portfolio has crossed Rs 2 lakh crore.
     
    Indiabulls Housing Finance reported 54% YoY fall in consolidated net profit to Rs 323.20 crore for the July-September 2020 quarter (Q2FY21). Revenue fell to Rs2,534 crore from Rs3,480 crore in the year ago period.
     
    Redington India reported 35% YoY rise in net profit at Rs175 crore compared to Rs130 crore in previous year. Revenues rose 12% YoY to Rs13,786 crore.
     
    Aurobindo Pharma reported a 26% growth in consolidated profit to Rs 805.6 crore, from Rs 639.5 crore YoY. Consolidated revenue grew by 15.8% YoY to Rs 6,483.3 crore.
     
    On Friday, the major indices opened low but rallied and ended with minor gains. On the NSE, there were 1,132 advances, 729 declines and 122 unchanged.
     
    Rakesh Jhunjhunwala-owned Rare Enterprises has acquired 50 lakh equity shares in the Indiabulls Group Real Estate (representing 1.1 percent of the total paid-up equity shares) at Rs 57.73 per share, as per bulk deals data on the National Stock Exchange.
     
    Eicher Motors reported a 40% decline in Q2FY21 consolidated net profit at Rs 343.34 crore, compared to 572.69 crore YoY. Revenues dipped 2.70% YoY to Rs2,134 crore.
     
    Sterling & Wilson Solar reported 81% drop in consolidated net profit to Rs 15.09 crore, versus Rs 79.41 crore YoY. Total income rose to Rs 1,375.94 crore from Rs 1,265.65 crore in the year-ago period.
     
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    Weekly Moneylife Indices & Sector Trends
    INDIAN MARKET TRENDS
    From 6th November to 12th November, the Sensex, the NIFTY and ML Mega-cap Index rose 3% each. ML Large-cap Index rose 2%. ML Mid-cap Index, ML Small-cap Index and ML Micro-cap Index rose 1% each.
     
     
    FUND FLOWS
    Foreigners: Foreign institutional investors were net buyers of equities during the period (Rs17,897.02 crore). They bought shares...
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