We had mentioned in last week’s closing report that Nifty, Sensex may rally more. 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 opened in the green and ended with minor gains. On the NSE, there were 1,047 advances, 802 declines and 384 unchanged.
TCS said it will consider share buyback proposal, at its meeting to be held on October 7, 2020.
ITI signed a Rs 7,796-crore Army Static Switched Communication Network (ASCON) project for deploying strategic network for secured communication across the country and subsequent maintenance for the next 10 years.
Hind Rectifiers secured orders of Rs.51.81 crore in September 2020.
Laurus Labs subsidiary Laurus Synthesis Inc. USA has been merged with step-down subsidiary Laurus Generics Inc. USA.
On Tuesday, the major indices rallied and posted major gains. On the NSE, there were 1,104 advances, 780 declines and 117 unchanged.
Majesco board of directors will meet on October 8, 2020, to consider proposal for buyback of fully paid-up equity shares of the company.
Adani Ports announced the completion of the acquisition of the Krishnapatnam Port Company (KPCL) for an enterprise value of Rs 12,000 crore. APSEZ now has a controlling stake of 75% in KPCL, a multi-cargo port in southern Andhra Pradesh.
IndusInd Bank’s deposit in July-September quarter grew at 10% compared to same period last year and 8% compared to previous quarter. Advances registered a 2% YoY growth and 1% sequential growth in September quarter.
On Wednesday, the major indices continued to rally and posted decent gains. On the NSE, there were 728 advances, 1,131 declines and 354 unchanged.
Reliance Industries announced that a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.50 crore into the company's subsidiary Reliance Retail Ventures (RRVL) for 1.20% equity stake on a fully diluted basis. This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crore.
Infosys bagged order from Switzerland-based co Mobile Health AG for ePRO platform Consilium Care.
Bajaj Finance added 3.6 million new loans during the September quarter, less than half of what it could add in the year ago period. Asset under management growth was only 1.3% year-on-year.
On Thursday, the major indices continued to rise and ended with decent gains. On the NSE, there were 840 advances, 997 declines and 383 unchanged.
Tata Consultancy Services reported a profit after tax of Rs 7,475 crore for the quarter ended September 2020, down 7% YoY. The deal wins for the quarter were strong with total contract value at $8.6 billion against $6.9 billion in Q1FY21.
Wipro will be considering a proposal of buyback of equity shares at the meeting scheduled to be held on October 13, 2020.
Kishore Biyani-led Future Group received a legal notice from Amazon.com Inc. over the former’s Rs 24,700-crore asset sale to Reliance Retail Ventures Ltd, calling it a breach of a 2019 agreement between Amazon and Future.
On Friday, the major indices continued to rise and ended with decent gains. On the NSE, there were 865 advances, 1,010 declines and 109 unchanged.
Steel Strips Wheels net profit for quarter ended September 2020 went up 82.3% at Rs 14 crore against Rs 7.7 crore (YoY). Revenue was up 11.8% at Rs 405 crore against Rs 362.1 crore (YoY).
Solar Industries bagged an order worth Rs 447 crore from Singareni Collieries Company Limited (SCCL) for the supply of explosives and initiating systems.
ZEN Tech received an order from a government customer for annual maintenance contract for a period of five years for an approximate value of Rs 40 crore.