Nifty, Sensex may try to bounce back next week – Weekly closing report
We had mentioned in last week’s closing report that Nifty, Sensex were in no man’s land. The major indices faced a minor correction this week. The trend of the major indices in the week is given in the table:
 
 
On Monday, the major indices opened with major gains and ended slightly higher. On the NSE, there were 845 advances, 1,074 declines and 334 unchanged.
 
Vodafone Idea reported a net loss of Rs 4,532 crore against Rs 6,439 crore YoY. Revenue dipped 2% to Rs 10,894 crore from Rs 11,089 crore YoY.
 
Info Edge reported consolidated profit of Rs 679 crore due to exceptional gains, compared to a loss of Rs 62.1 crore YoY. Revenue declined to Rs 277.6 crore from Rs 335 crore YoY. 
 
Edelweiss Financial Services reported a consolidated net loss of Rs 63 crore against a profit of Rs 35.32 crore in the same quarter last year. Total income fell to Rs 2,191.34 crore as against Rs 2,649.56 crore in the year ago period.
 
Deepak Nitrite reported consolidated profit of Rs 216.56 crore compared to Rs 156.71 crore in the same period last year. Revenue grew to Rs 1,234.7 crore from Rs 1,119.86 crore YoY.
 
On Tuesday, the major indices opened higher but lost all gains and ended lower. On the NSE, there were 829 advances, 1,056 declines and 89 unchanged.
 
The government has shortlisted four mid-sized state-run banks - Bank of Maharashtra, Bank of India, Indian Overseas Bank and Central Bank of India - for privatisation, under a new push to sell state assets and shore up government revenues, according to media sources.
 
The World Health Organization's (WHO) has given emergency use approval to AstraZeneca's COVID-19 vaccines on February 15, allowing distribution to some of the world's poorest countries. 
 
Security Intelligence Services (SIS) has announced a share buyback plan of Rs 100 crore. It will buy back 18,18,181 shares at a price of Rs 550 apiece, representing 1.23% of the total number of fully paid-up equity shares.
 
On Wednesday, the major indices opened lower and suffered a minor correction. On the NSE, there were 916 advances, 1,010 declines and 86 unchanged.
 
Nestle India net profit for Oct-Dec 2020 quarter grew 2.3% to Rs 483 crore from Rs 473 crore year-on-year. Revenue grew 9% to Rs 3,433 crore compared to Rs 3,149 crore in the same period last year.
 
L&T Finance Holdings has raised Rs 2,999 crore through the rights issue which was closed on Tuesday. The issue was oversubscribed by 15 percent.
 
Adani Ports has completed the acquisition of Dighi Port Limited (DPL) for Rs 705 crore. DPL, the 12th port to join APSEZ’s string of economic gateways across the eastern and western coast of India would establish the company’s footprint in Maharashtra, according to the company. 
 
On Thursday, the major indices opened higher but faced another minor correction. On the NSE, there were 1,061 advances, 862 declines and 86 unchanged.
 
Bharti Airtel said that it will acquire a Warburg Pincus affiliate's 20% equity stake in its DTH arm Bharti Telemedia for a total consideration of Rs 3,126 crore primarily via issuance of 36.47 million equity shares of Airtel at a price of INR 600 per share; and up to Rs 1,037.8 crore in cash.
 
NALCO plans to buy back Rs 749-crore worth of shares, DIPAM Secretary Tuhin Kanta Pandey has said. The offer opens on February 25 and closes on March 10.
 
Gail India is going to open its buyback programme on February 25 for up to 6,97,56,641 fully paid-up equity shares of face value Rs 10 each, representing 1.55% of equity share capital of the company.
 
On Friday, the major indices opened lower and continued its descent. On the NSE, there were 716 advances, 1,176 declines and 86 unchanged.
 
Muthoot Finance board has approved a proposal to raise up to Rs 6,000 crore by issuing non-convertible debentures by way of private placement. 
 
Ambuja Cements consolidated net profit came in at Rs 968.24 crore, 34.06% higher compared to Rs 722.26 crore in the same period last year. 
 
Dr. Reddy's Laboratories has initiated the process with the Drugs Controller General of India for Emergency Use Authorization (EUA) of the well-studied human adenoviral vector-based platform vaccine candidate Sputnik V.
 
Steel Strips Wheels bagged exports orders for close to 5000 wheels for EU Caravan market to be executed in April 2021 from its Chennai plant.
 
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