We had mentioned in Tuesday’s closing report that Nifty, Sensex may continue its upmove. On Wednesday, the major indices declined and reported major losses. On the NSE, there were 1,000 advances, 800 declines and 366 unchanged.
The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Dr. Reddy's Laboratories reported 12.6% year-on-year (YoY) drop in consolidated net profit to Rs 579 crore for the June quarter. Revenues grew at 15% YoY at Rs 4,418 crore.
Maruti Suzuki India posted a net loss of Rs 249.4 crore for the June quarter due to operating loss and lower revenue following steep decline in sales volumes during lockdown. Profit in the June quarter 2019 stood at Rs 1,435.5 crore. Revenues declined by 79.2% YoY to Rs 4,106.5 crore.
IDBI Bank reported a standalone net profit of Rs 144.43 crore for the June quarter compared to a net loss of Rs 3,800.84 crore in the previous year. Total income fell to Rs 5,901.02 crore from Rs 5,923.93 crore in the same quarter of the last fiscal.
Jet Airways reported a net loss of Rs 5,538 crore for the year ending March 31, 2019, as compared to a loss of Rs 767 crore a year earlier hurt by a substantial increase in fuel costs and other expenses. Standalone revenue was down by 2.6% to Rs 23,314 crore from Rs 23,958 crore, a year earlier.
Sasken Technologies posted standalone net profit of Rs 29 crore in June 2020 quarter compared to Rs21 crore in June 2019. Revenue declined to Rs.100 crore compared to Rs111 crore in the previous year.
IRB Infrastructure Developers emerged as a preferred bidder for construction of eight lane access controlled expressway of Vadodara Mumbai Expressway (Gandeva to Ena Section) in the State of Gujarat on Hybrid Annuity Mode under Bharatmala Pariyojana (Phase I-Package VII).
Colgate Palmolive net profit for June quarter 2020 was up 17.2% at Rs 198.2 crore against Rs 169.1 crore YoY. Revenue went down 4.1% at Rs 1,040.6 crore against Rs 1,084.9 crore YoY.
Tata Coffee consolidated total income for June quarter was higher at Rs 592 crore compared to Rs 472 crore during the previous year, an increase of 26% driven by improved performance from the value-added businesses.
Nestle India net profits grew by 11.1% YoY to Rs 486.6 crore. Revenue from operations increased 1.7% to Rs 3,050.48 crore compared to same period last year.
HT Media said it will acquire Mosaic Media Ventures which runs news platforms VCCircle and TechCircle.
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: