Nifty, Sensex in no man’s land – Weekly closing report
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.
 
  • User 

    Nifty, Sensex under pressure – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex reversed losses in late rally. On Thursday, the major indices suffered major losses. On the NSE, there were 507 advances, 1,359 declines and 342 unchanged.
     
    The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    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.
     
    Tata Power has made an application to SEBI for an in- principle approval for creation of the InvlT. Anchor investor(s) in the InvlT have started their due diligence of the assets proposed to be transferred to InvIT.
     
    Rakesh Jhunjhunwala has picked 1.29% stake in Tata Motors as per the BSE shareholding pattern for the quarter ended September 2020.
     
    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). 
     
    Lakshmi Vilas Bank board approved Rights Issue worth up to Rs 500 crore at its meeting held on October 15, 2020. 
     
    Vimta Labs reported net profit at Rs 7.4 crore versus Rs 9 lakh YoY. Revenue went up 38.5% YoY at Rs 58.8 crore versus Rs 42.5 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) was at Rs 15.8 crore and margin was at 26.8%.
     
    Den Networks reported a 61.41% YoY decline in its consolidated net profit to Rs 36.77 crore in the quarter ended September 30. Total income stood at Rs 378.81 crore, up 1.06% YoY as against Rs 374.82 crore .
     
    CRISIL has downgraded Thomas Cook (India) ratings on the long-term bank facilities of the company to CRISIL A+ from CRISIL AA-with outlook remaining negative.
     
    The government approved demerger of the under-construction Nagarnar steel plant from NMDC and its strategic divestment by selling the entire government stake.
     
    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 

    Nifty, Sensex reverses losses in late rally – Wednesday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex may come under pressure. 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.
     
    The trends of the major indices in the course of Wednesday’s trading are given in the table below:
     
     
    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.
     
    YES Bank had classified Cox & Kings, its non-bank lending unit Cox & Kings Financial Services and related entity Ezeego One Travel and Tours, which have total loans of Rs 1,862 crore, as wilful defaulters.
     
    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. 
     
    JPMorgan Chase Bank N.A., India (JPMC) has signed a definitive agreement with Infibeam Avenues, to use company's flagship enterprise payment platform, CCAvenue for processing transactions of its enterprise clients.
     
    The Cabinet approved demerger, sale of NMDC's Nagarnar steel plant.
     
    Sun Pharma Advanced Research Company reported positive top-line results from its Phase 3 trial for its investigational drug, SDN-037, for the treatment of inflammation and pain associated with Ocular Surgery. The trial met its prespecified primary and secondary objectives, demonstrating that SDN-037 is superior to its vehicle.
     
    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.
     
    CRISIL re-affirmed its credit rating of 'A1+' as assigned to Rs 1,000 crore Commercial Paper programme of PNB Gilts.
     
    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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