The Indian markets plunged on Thursday, following continued negative domestic new flows. Additional pressure came from US Federal Reserve’s comments, after slashing the interest rates by 25 basis points, first since 2008, said it is “not the beginning of a long series of rate cuts.” The Nifty provisionally closed at 10,980, down 1.24% while Bank Nifty was down to 28,367, down 1.76%.
Only 11 of the Nifty 50 stocks closed in the green. Among the top losers were Vedanta (-5.61%), JSW Steel (-5.01%), SBI (-4.7%). The gainers were Wipro, Maruti Suzuki (2.13%), Wipro (2.11%) and Infratel (1.93%).
The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
Meanwhile, Cafe Coffee Day (CCD) shares hit lower circuit for the third day in a row since its founder VG Siddhartha mysteriously disappeared and was found dead on Wednesday.
The board of Ador Fontech Ltd has approved a issue of bonus shares in the proportion 1:1 i.e., one bonus equity share of the nominal value of Rs2 each for every one equity share held. Shares of Ador Fontech closed at Rs100.25 in BSE down 1.04%.
SML Isuzu Ltd has sold 857 vehicles in the month of July 2019, drastically down from 1,130 vehicles sold in July 2018. The company has reported total income of Rs197.59 crore during the period ended 30 June 2019 compared to Rs147.12 crore during the same period last year. Its net profit was Rs45.35 crore for the quarter ended June 2019 against Rs30.07 crore.
Hikal, a speciality chemicals manufacturer, has reported total income of Rs403.84 crore during the period ended 30 June 2019 compared to Rs326.97 crore, same period last year. Its net profit was Rs25.23 crore as against Rs15.93 crore.
Varun Beverages reported a 36.5% rise in revenue from operations (net of excise / GST) in Q2 2019 to Rs2,810.4 crore. Total sales volumes were up 43.3% YoY at 195.5 million cases in the June quarter compared to 136.4 million cases. Its net profit jumped by 32.0% to Rs404.9 crore from Rs306.7crore.
The top gainers and top losers of the major indices are given in the table below: