Nifty, Sensex struggling to rise – Thursday closing report
We had mentioned in Wednesday’s closing report that Nifty, Sensex were headed higher. The major indices declined and ended with minor losses. On the NSE, there were 790 advances, 986 declines and 374 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
 
 
PNC Infratech has bagged a NHAI project of 70 km long four-laning of Unnao-Lalganj section in Uttar Pradesh, to be executed on Hybrid Annuity Mode (HAM) for a cost of Rs.1,602.0 crore. The project is to be constructed in 30 months and operated for 15 years post construction. This is the tenth hybrid annuity highway project secured by the company so far.
 
Ashoka Buildcon has bagged a NHAI project in Karnataka, on HAM under Bharatmala Priyojana. The quoted cost for the project is Rs.1,035.50 crore.
 
Zydus Cadila has received the final approval from the USFDA to market Mesalamine Suppositories for rectal use, (US RLD - Canasa) 1000 mg. The drug is used to treat ulcerative proctitis, a type of bowel disease. This will be manufactured at the group's topical manufacturing facility in Ahmedabad.
 
Sunteck’s MaxXWorld project at Naigaon has sold more than 1600 apartments generating sales worth Rs.600 crores approx., in less than 2 weeks from the launch day. Sunteck MaxXWorld comprises of 15 acres out of the total 150 acres- one of the largest township in the western suburbs.
 
SJVN reported flat growth in revenues year-on-year at Rs551 crore for the quarter ended December 2019. Net profits rose 18% to Rs215 crore.
 
Lincoln Pharmaceuticals reported 20% growth in revenues year-on-year at Rs101.55 crore for the quarter ended December 2019. Net profits rose 19% to Rs11 crore.
 
Phillips Carbon Black reported 18% decline in revenues year-on-year at Rs774.46 crore for the quarter ended December 2019. Net profits fell 35% to Rs70 crore.
 
Electrosteel Castings reported 4% fall in revenues year-on-year at Rs700 crore for the quarter ended December 2019. Net profits jumped 36% to Rs59 crore.
 
Apollo Hospitals reported consolidated profit of Rs.89.95 crore for December 2019 quarter against Rs.49.87 crore in the same quarter last year. Total income grew to Rs.2,921.40 crore from Rs 2,507.53 crore registered the same period a year ago.
 
Adani Transmission reported a 32.53% rise in net profits at Rs 203.67 crore for December 2019 against Rs.153.67 crore in the year-ago period. Total income reported was Rs.2,835.72 crore as compared with Rs.2,834.10 in the year-ago quarter.
 
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:
 
 
 
 
 
 
  • User

    Nifty Sensex headed higher – Wednesday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex were undecided. The major indices continued to rally for the second day. On the NSE, there were 726 advances, 1,069 declines and 358 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
     
     
    The Odisha government has signed a MoU with HDFC Bank to provide smart banking solutions to the startups recognised by the Startup Odisha along with opportunity to pitch their solutions to requisite stakeholders and will work towards providing them an opportunity to showcase their solutions.
     
    Allahabad Bank reported a wider net loss for the quarter ended December 31, 2019, due to higher provisioning for non-performing assets (NPAs). Net loss widened to Rs.1,986.27 crore from Rs.732.81 crore in the same period last year.
     
    Amines & Plasticizers reported a 15% year-on-year decline in revenues to Rs95.07 crore for the quarter ended December 2019. Net profits jumped 66% to Rs5.79 crore.
     
    Cochin Shipyard reported a 24% year-on-year rise in revenues to Rs950.34 crore. Net profits rose 32% to Rs169.81 crore.
     
    Spencers Retail reported a 22% year-on-year rise in revenues to Rs706.93 crore. Net losses widened to Rs39.50 crore from Rs11 lakh reported in the same period last year.
     
    JM Financial will raise Rs.100 crore through an NCD issue on Thursday. This is the third tranche of its planned fully-secured NCD sale this year. The NBFC has a greenshoe option to raise additional Rs200 crore, taking the overall issue size to Rs.300 crore.
     
    Ipca Laboratories reported 24% year-on-year rise in net profits to Rs.197.54 crore for the December quarter. Total income jumped to Rs.1,230.99 as against Rs.1,019.48 crore in the same period last year.
     
    Dr Reddy's Laboratories may acquire select divisions of Wockhardt’s branded generics business in India, Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs.1,850 crore.
     
    Info Edge India reported consolidated loss of Rs.62.1 crore for the quarter ended December 2019 against net profit of Rs.330 crore in the year-ago period. Total income grew to Rs359.7 crore against Rs323 crore in the same period last year.
     
    Network i2i, a subsidiary of Bharti Airtel, plans to raise funds worth up to $250 million (approximately Rs 1,780 crore) through perpetual bonds. This amount will be in addition to existing securities of $750 million (around Rs 5,343 crore) that it raised.
     
    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:
     
     
  • User

    Axtel Industries: Steady Growth
    Axtel Industries (Axtel) is a supplier of process engineering equipment and turnkey systems to the food and pharmaceuticals industries. It was set up in 1991 to manufacture food processing equipment for solid handling, size reduction, mixing & blending, storage & discharge, cleaning & grading, etc. 
     
    Axtel offers complete process plants, as well as individual equipment, covering...
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