Nifty, Sensex on a strong uptrend – Weekly closing report
Moneylife Digital Team 04 June 2021
We had mentioned in previous week’s closing report that Nifty, Sensex were trending up. The major indices were volatile this week but closed with decent gains.
 
The trend of the major indices in the week is given in the table:
 
 
 
On Monday, the indices opened higher and closed with major gains. On the NSE, there were 1,093 advances, 911 declines and 78 unchanged.
 
Magma Fincorp board has appointed Adar Poonawalla as its chairman, Abhay Bhutada as the Managing Director and Vijay Deshwal as CEO of the company. The leadership changes were after Poonawala-controlled Rising Sun Holdings acquired a controlling stake in Magma Fincorp.
 
Magma Fincorp reported consolidated loss of Rs 647 crore, up Rs 35.50 crore in the YoY period. Total income declined to Rs 587 crore from Rs 617 crore YoY.
 
HDFC Bank was charged a penalty of Rs 10 crore by The Reserve Bank of India (RBI) imposed a penalty of Rs 10 crore on the private lender for deficiency in "regulatory compliance".
 
PNB Housing Finance will raise of up to Rs 4,000 crore, led by entities affiliated to American private equity firm Carlyle Group Inc.
 
Divis Labs reported consolidated profit of Rs 502.02 crore compared to Rs 388.23 crore YoY. Sales went up 28% YoY to Rs 1,788 crore.
 
On Tuesday, the indices opened higher but ended flat. On the NSE, there were 728 advances, 1,245 declines and 57 unchanged.
 
Bajaj Auto reported domestic sales of 60,830 units in May 2021 against 40,074 units in May 2020. Total two-wheeler sales were at 2.40 lakh units against 1.13 lakh units in the year-ago period. Exports were 2.11 lakh units against 87,054 units in May 2020.
 
TVS Motor Company closed May 2021 selling 166,889 units up from 58,906 units sold in May 2020. Maruti Suzuki India reported total sales of 46,555 units in May 2021.
 
Glenmark Pharmaceuticals Limited announced the launch of Rufinamide tablets, 200 mg and 400 mg, a therapeutic equivalent of Banzel tablets, 200 mg and 400 mg of Eisai, Inc.
 
Balrampur Chini posted consolidated net profit of Rs 235.5 crore against Rs 241.4 crore. Revenue was down 41.4% at Rs 1,019.4 crore versus Rs 1,740 crore YoY.
 
On Wednesday, the indices opened lower but recovered some loss and ended flat. On the NSE, there were 1,383 advances, 535 declines and 337 unchanged.
 
ITC reported standalone profit of Rs 3,748.4 crore, nearly flat at Rs 3,797 crore reported YoY. Standalone revenue from operations (excluding excise duty) grew 22.6% YoY to Rs 13,294.7 crore. 
 
Motherson Sumi Systems reported net profit of Rs 713.6 crore for the quarter ended 31 March 2021 compared to Rs 183.4 crore earned during the corresponding period of the previous financial year (YoY). Revenue climbed 17.6% to Rs 16,972 crore against Rs 14,434.5 crore YoY.
 
Muthoot Finance net profit came in at Rs 995.6 crore, 22.1% rise from Rs 815.1 crore YoY. Revenue came in at Rs 2,824 crore against Rs 2,400 crore YoY. 
 
PVR reported mounting losses at Rs 289 crore for the quarter ended 31 March 2021 compared to a loss of Rs 74.49 crore YoY. Revenue dipped 60% YoY to Rs 263 crore from Rs 661 crore YoY.
 
On Thursday, the indices opened higher and ended with decent gains. On the NSE, there were 1,354 advances, 625 declines and 63 unchanged.
 
Snowman Logistics announced a partnership with Dr Reddy's for the delivery of Sputnik COVID-19 vaccine across India. 
 
Tata Consultancy Services (TCS) has announced its plan to reduce its absolute greenhouse gas emissions across 'Scope 1' and 'Scope 2' by 70 per cent by 2025, and to achieve net zero emission by 2030.
 
Lupin will enter into the digital healthcare space with the focus on a digital therapeutics platform for doctors and patients through Lupin Digital Health Limited, a wholly owned subsidiary.
 
Barbeque-Nation Hospitality plans to open 20 more outlets this fiscal while growing its delivery business, senior officials told analysts.
 
On Friday, the indices opened higher but declined and ended with minor losses. On the NSE, there were 1,118 advances, 799 declines and 337 unchanged.
 
NIIT reported net profit of Rs. 46.5 crore against Rs 0.6 crore in the year-ago period. Consolidated revenue jumped 30.5% YoY to Rs 275.5 crore. 
 
Bharat Forge reported a net profit of Rs 205.4 crore against a loss of Rs 73.3 crore in a year-ago period.
 
Microfinancier Spandana Sphoorty could be acquired by Axis Bank, according to a report by Moneycontrol.
 
Bank of India reported net profit at Rs 250.2 crore against a loss of Rs 3,571.4 crore YoY. Net Interest Income fell 22.6% at Rs 2,936 crore versus Rs 3,793 crore. Gross NPA fell to 13.77% versus 14.59% and net NPA at 3.35% versus 3.73%, QoQ.
 
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