Nifty, Sensex may remain in a range – Thursday closing report
We had mentioned in Wednesday’s closing report that Nifty, Sensex may have broken the uptrend for now. On Thursday, the major indices bounced back and closed with decent gains. On the NSE, there were 1,261 advances, 588 declines and 366 unchanged.
 
The trends of the major indices in the course of Thursday’s trading are given in the table below:
 
 
Dewan Housing Finance reported net loss at Rs 2,122.7 crore for September 2020 quarter against loss of Rs 6,640.2 crore YoY. Net interest income went up 4.7% at Rs 2,204.8 crore against Rs 2,106.7 crore YoY.
 
Interglobe Aviation stock fell after Citi downgraded the stock to "sell" from neutral but it raised the target price to Rs 1,400 from Rs 1,300 per share. IndiGo’s market share might have peaked and could trend lower as its peer’s ramp up, said Citi.
 
Meghmani Organics is planning to set up a multipurpose plant in Dahej at a cost of Rs 310 crore and will be commissioned by the fourth financial quarter of FY2022. The company also commenced commercial production at two of its plants situated at Bharuch.
 
NTPC plans to acquire at least 1,000 megawatt of operational wind power projects to add to its green energy portfolio, according to media reports.
 
Union Bank of India has proposed to raise up to Rs 6,800 crore during this fiscal to fund business growth.
 
Massachusetts Institute of Technology (MIT) and Vantage Equity Fund bought stakes in Tanla Platforms via bulk deals.
 
Laurus Labs signed a definitive agreement to acquire a 72.55% stake in Bengaluru-based Richcore Lifesciences for Rs 247 crore.
 
Cochin Shipyard is building two autonomous electric vessels with zero carbon emission for a Norwegian company. The two vessels are being built for ASKO Maritime AS, Norway.
 
Tube Investments board has approved raising Rs 350 crore from Azim Premji Trust and SBI Mutual Fund by alloting shares to both the entities, which do not belong to promoter or promoter group, on preferential allotment or private placement basis.
 
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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