Nifty, Sensex continues its upmove – Tuesday closing report
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:
 
  • User 

    COMMENTS

    howardroark19

    4 months ago

    "On Tuesday, the major indices opened low but managed to recover and end with minor losses." Really? Which major indices ended in losses? Sensex is +558.22 aand Nifty 50 is +168.75.

    REPLY

    howardroark19

    In Reply to howardroark19 4 months ago

    "On Monday, the major indices opened low but managed to recover and end with minor losses."

    Nifty, Sensex may move in a narrow range – Monday closing report
    We had mentioned in previous week’s closing report that Nifty, Sensex continue to trend higher. On Monday, the major indices opened low but managed to recover and end with minor losses. On the NSE, there were 538 advances, 1,310 declines and 339 unchanged.
     
    The trends of the major indices in the course of Monday’s trading are given in the table below:
     
     
    Kotak Mahindra Bank reported 8.5% YoY decline in standalone net profit for the June quarter at 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.
     
    India Cements standalone net profit went down 76.5% YoY at Rs 17 crore against Rs 72.2 crore. Revenue declined 48.5% to Rs 757 crore against Rs 1,469 crore YoY. 
     
    Biocon stock fell after the Ministry of Health decided to not include Itolizumab, an already approved drug of Biocon used for treating psoriasis, in clinical management protocols for treating COVID-19 even though the DCGI has approved its "restricted emergency use" in infected patients, official sources said.
     
    HDFC Bank stock price fell after its managing director, Aditya Puri sold shares worth Rs 843 crore of the bank. Post this transaction, Puri holds 3.76 lakh shares of the bank or 0.01%.
     
    ICICI Bank reported June quarter net profit at Rs 2,599.1 crore, higher by 36.2% YoY. But the additional COVID-19 related provisions of Rs 5,550 crore limited the profit growth. Net interest income increased by 20% YoY to Rs 9,280 crore.
     
    Asian Paints reported 66.7% YoY decline in net profit at Rs 218.45 crore for the June quarter due to lockdown. Revenues declined 42.7% to Rs 2,922.6 crore compared to year-ago period.
     
    Granules India recalled over 4.78 lakh bottles of generic diabetes drug in the US due to possibility of the affected lot containing cancer causing nitrosodimethylamine (NDMA) above the acceptable intake limit.
     
    Marico consolidated June quarter net profit rose 23.2% YoY at Rs 388 crore against Rs 315 crore, while revenue was down 11.1% at Rs 1,925 crore against Rs 2,166 crore.
     
    Escorts reported 5.4% YoY rise in its June quarter net profit at Rs 92.5 crore against Rs 87.7 crore, while its revenue was down 24.4% at Rs 1,089.3 crore against Rs 1,440 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:
     
     
  • User 

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