Nifty, Sensex shrugs off weakness in overseas markets and heads higher– Tuesday closing report
We had mentioned in Monday’s closing report that Nifty, Sensex continue to head higher. On Tuesday, the major indices opened low but rallied and ended with decent gains. On the NSE, there were 1,017 advances, 873 declines and 336 unchanged.
 
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Karnataka Bank net profit for Oct-Dec 2020 quarter (Q3FY21) rose 10% YoY to Rs 135.4 crore versus Rs 123.1 crore. Net interest income rose 20.8% at Rs 614 crore against Rs 507.7 crore. Net NPA fell to 1.74% versus 2.21% and gross NPA fell to 3.16% versus 3.97%, QoQ. Gross NPA was Rs 1,706.6 crore against Rs 2,188.8 crore.
 
Sterlite Power said it has raised Rs 200 crore in debt financing from Allianz Global Investors using non-convertible debenture with three-year tenure.
 
GAIL (India) is going to consider buyback of shares on January 15 and also announce interim dividend for the financial year 2020-21.
 
R.P.P. Infra Projects bagged new work order from the Highways Department of Rs 231.77 crore for “Chennai Kanyakumari Industrial Corridor Projects”.
 
Steel Strips Wheels reported a net profit of Rs 28.7 crore in Q3FY21 against Rs 6.3 crore YoY. Revenue jumped 52.7% at Rs 524.5 crore against Rs 343.6 crore. EBITDA was up 53.5% YoY at Rs 65.5 crore against Rs 42.7 crore. 
 
Force Motors board approved to raise up to Rs 500 crore via NCDs, through private placement in one or more tranches.
 
Tata Chemicals is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at Rs 450 crore at a minimum, Bloomberg reported. The board is set to discuss the potential offer as soon as this month. Negotiations are ongoing and could still fall apart, sources said. 
 
Embassy Office Parks board has approved raising up to Rs 2,600 crore through issuance of non-convertible debentures (NCDs) on a private place basis to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru. 
 
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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