Nifty, Sensex May Move Sideways – Thursday closing report
IANS 07 October 2021
We had mentioned in Wednesday’s closing report that Nifty, Sensex may restart its rally. On Thursday, the indices opened higher and ended with major gains.
 
On the NSE, there were 1,425 advances, 608 declines and 74 remained unchanged. The trend of the major indices on Thursday’s trading are given in the table below:
 
 
Titan, in its Q2 update announced that its sales were above or close to the pre-pandemic levels. Jewelry business saw a 78 % growth on a Y-o-Y basis, watch or wearables segment business sales were up 73% Y-o-Y. Eyewear and other business sales were up 74% and 121% Y-o-Y respectively. The company added 13 new stores in last quarter. 
 
Macrotech Developers earlier named as Lodha Developers announced it Q2 results, its sales jumped 88% to Rs2,003 crores on a Y-o-Y basis. Its MD and CEO has given a pre-sales guidance of Rs 9,000 crores and target of reducing net debt to Rs 10,000 crore by the end of this financial year.
 
Sobha Ltd, new sales stood at 16.5 lakh sq ft vs 9 lakh sq ft, up by 50% YoY and new booking were at Rs 1030.2 crores up over 49 percent YoY, the stock ended 16.64% higher
 
American Investor Blackstone is set to acquire VFS Global, worlds largest Visa outsourcing company at an enterprise valuation of over $ 2 billion. 
 
Inox Wind, in its board meeting on October 6 decided to issue preference shares worth Rs 1,100 crore to its promoters. 
 
SEBI has changed Request for Quote (RFQ) rule, asking mutual funds to allocate 25 percent of their total secondary market trades by value to be invested in Corporate Bonds and 10 percent of their total secondary markets by value to be invested in commercial papers by placing quotes through one-to-many mode on RFQ platform. 
 
Reliance Retail will open 7-Eleven convenience stores in India after entering into a franchise agreement with 7-Eleven Inc, this was after termination of 2-year-old franchise agreement between Future Retail and 7-Eleven Inc. 
 
Lupin has received USFDA approval for its Brexpiprazole generic tablets, which are used as anti-depressant. The stock ended with gains of around 1%.
 
Tata Steel, reported increase in steel output by over 7 % YoY, the stock closed 0.73 % higher. 
 
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:
 
 
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