Nifty, Sensex in a narrow range – Thursday closing report
We had mentioned in Wednesday’s closing report that Nifty, Sensex may rise a bit. On Thursday, the major indices ended with minor gains. On the NSE, there were 1,066 advances, 666 declines and 383 unchanged.
 
The trends of the major indices in the course of Thursday’s trading are given in the table below:
 
 
UltraTech Cement announced consolidated net profit of Rs 3,243 crore for the quarter ended March 2020 compared to Rs1,084 crore in March 2019 quarter. Revenues were down at Rs10,746 crore compared to Rs 12,371 crore in the previous year.
 
IRCTC stock was locked in upper circuit as bookings for passenger trains started. The Indian Railways has released the list of 200 trains that will start operating from June 1 and bookings can be done from 10 am on May 21.
 
Hindustan Zinc reported 33.45% YoY decline in net profits at Rs1,339 crore for the March 2020 quarter. Revenues declined 19.39% YoY to Rs4,861 crore.
 
Bajaj Auto reported consolidated profit at Rs 1,354 crore for quarter ended March 2020 compared to Rs1,408 crore in March 2019. Revenue declined 8.1% YoY to Rs 6,815.85 crore.
 
Dr Reddy's Laboratories reported 76% year-on-year (YoY) jump in the company's net profit at Rs 764.2 crore against Rs 434.4 crore in the corresponding quarter of the previous financial year.
 
Zydus supplied the first batch of 30,000 Covid Kavach Elisa tests to Indian Council of Medical Research (ICMR), free of cost. These test kits have been manufactured in technology transfer with ICMR-NIV of Pune for surveillance purposes.
 
Airline stocks rose between 5 and 7% after Civil Aviation Ministry allowed resumption of domestic flights beginning May 25. Flight operations will resume with one-third the schedule, with most airports expected to be open for service.
 
Piramal Enterprises plans to raise Rs500 crore through issue of non-convertible debentures.
 
Bajaj FinServ reported consolidated net profit at Rs 194.4 crore compared to Rs 838.7 crore in year-ago period due to contigency provisions for COVID-19. Consolidated revenue from operations grew by 2.3 percent year-on-year to Rs 13,295 crore in the quarter ended March 2020.
 
JSW Energy reported a 28-fold jump in its consolidated net profit to Rs 108.44 crore in the fourth quarter ended March. The total income stood Rs 1,847.65 crore in the quarter as compared to Rs 2,018.16 crore a year ago.
 
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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    Ramesh Popat

    3 days ago

    reason for BIG jump in profits should be given by adding a line!

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