We had mentioned in Tuesday’s closing report that Nifty, Sensex were under pressure. On Wednesday, the major indices were volatile and ended with minor gains. On the NSE, there were 1,120 advances, 707 declines and 299 unchanged.
The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Godrej Consumer Managing Director and CEO Vivek Gambhir has resigned. Nisaba Godrej, the executive chairperson of Godrej Consumer Products, will take over as MD and CEO on July 1, 2020. Gambhir will step down from the position on June 30 and will continue to be on the company's board as a whole-time director until September 30, 2020.
Hero MotoCorp reported a standalone profit at Rs 621 crore the fourth quarter of FY20 as against Rs 730.32 crore in the same period last year, a decline of 15%. The significant fall in tax cost (down 91.5% YoY) helped limit the decline in bottom-line.
Yes Bank share price rose after Madhu Kapur's family withdrew the suit filed against the bank management in Bombay High Court. The Kapurs' had filed the affidavit seeking recognition and right to participate in the management of the bank, restrain individual directors from acting as such or holding themselves out as directors of the bank and restrain the bank from making or continuing with any application to any regulator/authorities for reclassifying their shareholding into a non-promoter shareholding.
Cupid received a repeat order from Medical Stores Department, Government of Tanzania for the supply of male condoms worth Rs 23.61 crore approximately.
Dwarikesh Sugar Industries reported 37% YoY jump in net profit to Rs 44.26 crore for the quarter ended March 2020. Revenues from operation rose to Rs 461.7 crore from Rs 211.22 crore in the corresponding quarter in the previous year.
Panacea Biotec has collaborated with US-based Refana Inc. to enable global development, manufacturing and distribution of a COVID-19 vaccine. As part of the collaboration, Panacea Biotec will make a vaccine through a joint venture (JV) to be based in Ireland.
Manappuram Finance plans to issue a private placement of rated, secured, redeemable non convertible debentures up to Rs 250 crore.
Dhanuka Agritech reported 46% YoY jump in consolidated net profits to Rs 39 crore during the March 2020 quarter from Rs 26.7 crore in the previous year. The firm reported an 18.1% jump in revenue to Rs 227.6 crore from Rs 192.7 crore in the previous year.
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: