We had mentioned in Monday’s closing report that Nifty, Sensex may move in a narrow range. On Tuesday, the major indices opened low but managed to recover and end with minor losses. On the NSE, there were 955 advances, 872 declines and 337 unchanged.
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Mahindra & Mahindra Financial Services has opened its rights issue. The company will issue 61.78 crore equity shares of the face value of Rs 2 each at a price of Rs 50 per share aggregating to Rs 3,088.82 crore. The equity shares will be offered in the ratio of 1:1 held by shareholders as on the record date 23 July 2020. The rights issue will close on 11 August 2020.
Tech Mahindra consolidated net profit grew to Rs 972.3 crore in June quarter from Rs959 crore in the previous year. Consolidated revenue grew to Rs 9,106.3 crore from Rs.8,653 crore in the previous year.
Havells India reported a 64% fall in June quarter net profit at Rs 63.98 crore from Rs 177.09 crore in the previous year. Net sales came at Rs 1,483.40 crore, down 45.4% YoY from Rs 2,716.88 crore.
Bharti Infratel reported 21% drop in its consolidated net profit to Rs 704 crore for June quarter from Rs887 crore in the previous year. Consolidated revenues came in at Rs 3,505 crore, which was 6% lower YoY.
Kotak Mahindra Bank had reported 8.5% YoY decline in standalone net profit for June quarter to Rs 1,244.45 crore, compared to Rs 1,360.2 crore reported in the year-ago quarter. Net interest income increased by 17.8% YoY to Rs 3,723.85 crore.
Tinplate Company of India reported loss of Rs.6.90 crore for the June quarter from Rs.8.78 crore. Revenues dipped 32% YoY to Rs.384 crore.
Ultratech Cement reported 38% YoY fall in net profits at Rs.797 crore for the June quarter. Revenues declined 32% YoY to Rs.7,912 crore.
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: