We had mentioned in last week’s closing report that Nifty, Sensex may continue to head higher. The major indices headed downward and closed with losses over previous Friday’s closing price.
The trend of the major indices in the week is given in the table:
On Monday, the major indices opened higher but declined and ended with minor gains. On the NSE, there were 650 advances, 1,247 declines and 86 unchanged.
GTPL Hathway reported a net profit of Rs 34.68 crore in the September quarter, up 37.46% year-on-year. Sales declined 13.95% to Rs 403.18 crore as against Rs 468.56 crore YoY.
Indiabulls Housing Finance raised Rs 441 crore by selling a portion of its stake in OakNorth Holding Ltd, the parent company of OakNorth Bank, to US-based Riva Capital Partners.
GNA Axles reported net profit of Rs 22.93 crore in the quarter ended September 2020, up 2.92% YoY. Sales declined 13.23% to Rs 222.11 crore against Rs 255.98 crore in the year-ago period.
On Tuesday, the major indices moved in a range and ended flat. On the NSE, there were 802 advances, 1,074 declines and 102 unchanged.
Wipro reported a consolidated profit of Rs 2,465.7 crore for the July-September quarter against Rs 2,390.4 crore in the previous quarter.
Consolidated revenue increased 1.2% sequentially to Rs 15,096.7 crore. The board approved a buyback proposal for purchase of up to 23.75 crore equity shares (representing 4.16 percent of total paid up equity).
Shalby posted a standalone net profit at Rs 24.16 crore for the second quarter ended September 30, as against a loss of Rs 8.7 crore a year ago. Its standalone revenues stood at Rs 109 crore as against Rs 126 crore in the same period last year.
Infosys completed the acquisition of US-based product design and development firm Kaleidoscope Innovation for up to $42 million.
On Wednesday, the major indices opened lower than previous close but ended in the green with minor gains. On the NSE, there were 832 advances, 1,006 declines and 371 unchanged.
Karnataka Bank reported a nearly 13% YoY rise in net profit at Rs 119.44 crore for the September quarter as bad loans moderated. Total interest income rose to Rs 1,933.52 crore, against Rs 1,902.41 crore YoY.
Infosys reported a consolidated profit of Rs 4,845 crore for the September quarter. Consolidated revenue from operations increased to Rs 24,570 crore in Q2FY21, compared to Rs 23,665 crore in the previous quarter.
A US apparel industry watchdog has launched an investigation into underwear maker Jockey International's Indian partner Page Industries following allegations of human rights abuses at one of its factories, Reuters reported.
On Thursday, the major indices suffered major losses. On the NSE, there were 507 advances, 1,359 declines and 342 unchanged.
Tata Elxsi reported a 58.3% increase in net profit to Rs 78.8 crore for the September 2020 quarter. It had registered a net profit of Rs 49.8 crore in the year-ago period. Revenue from operations rose 11.5% YoY to Rs 430.2 crore, against Rs 385.8 crore in the corresponding period a year ago.
Mindtree net profit for the September 2020 quarter jumped 88% YoY to Rs 253.7 crore, against Rs135 crore in the previous year. Revenues rose 0.6% YoY to Rs1,926 crore.
Rane Brake Lining net profit jumped 54.7% YoY at Rs 11.5 crore against Rs 7.5 crore. Revenue went down 3.7% at Rs 105.4 crore against Rs 109.4 crore (YoY).
On Friday, the major indices bounced back with decent gains. On the NSE, there were 1,160 advances, 675 declines and 370 unchanged.
Cyient reported a 14.8% YoY decline in its consolidated net profit to Rs 83.9 crore for September 2020 quarter. Revenue fell 13.4% YoY to Rs 1,003.3 crore as against Rs 1,158.9 crore in the year-ago period.
HCL Tech net profit came in at Rs 3,142 crore against Rs 2,711 crore YoY. Revenues rose to Rs18,594 crore from Rs17,527 crore in the year ago period.
Shakti Pumps’ consolidated net profit came in at Rs 22.5 crore against loss of Rs 4.3 crore YoY. Consolidated revenue came in at Rs 201.1 crore against Rs 91.2 crore YoY.
Philips Carbon’s net profit went down 25% YoY at Rs 58 crore against Rs 77.4 crore. Revenue went down 23% YoY at Rs 664 crore against Rs 863 crore.