Nifty, Sensex trendless – Tuesday closing report
We had mentioned in Monday’s closing report that Nifty, Sensex were moving sideways. On Tuesday, the major indices suffered minor losses. On the NSE, there were 786 advances, 1,020 declines and 320 unchanged.
 
The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Glenmark Pharma share prices fell after global brokerage CLSA downgraded the stock to sell after Q4 earnings. The company had reported 36% year-on-year increase in March quarter profit at Rs 220 crore.
 
HUDCO reported 86.6% year-on-year growth in consolidated profit at Rs 440.9 crore for the quarter ended March 2020. Consolidated revenue from operations grew by 28.1% to Rs 1,888.5 crore compared to year-ago.
 
Bharat Dynamics reported a 149.51% YoY rise in net profit to Rs 309.72 crore in March 2020 quarter. Revenue went up 63.7% at Rs 1,435.4 crore against Rs 878 crore YoY. The Board has recommended a final dividend at Rs 2.55 per share for the year ended March 31, 2020.
 
Steel Strips Wheels bagged fresh export orders for Truck & Caravan Trailer Market from USA. 
 
Shilpa Medicare launched the Indian branded generic of Axitinib, an tyrosine kinase inhibitor drug with a brand name AXISHIL. It is available as 1 mg & 5 mg tablets in pack of 14’s tablets in one bottle and is used to treat patients suffering from Advanced Renal Cell Carcinoma (RCC).
 
Emami reported 58% year-on-year decline in consolidated profit at Rs 23 crore for the quarter ended March 2020. Revenue from operations declined 16.8% to Rs 532.68 crore compared to the same period last year. 
 
Bharat Electronics reported a 74.28% YoY rise in net profit to Rs 1,046.73 crore. Sales rose 51.43% YoY to Rs 5,728.57 crore in Q4FY20.
 
MRF reported consolidated net profit of Rs 679.02 crore for quarter ended March 31. The company had reported a net profit of Rs 293.93 crore for the same period of 2018-19 fiscal.
 
Revenue from operations stood at Rs 3,685.16 crore as compared with Rs 4,137.67 crore in the same period of 2018-19.
 
The auditors of Tata Steel have raised concerns regarding the ''material uncertainty'' of its European arm due to the Covid-19 pandemic's severe impact on its financials. During the January-March quarter, Tata Steel Europe, however, reported nearly Rs 65 crore operating profit.
 
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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  • Nifty, Sensex moving sideways – Monday closing report
    We had mentioned in previous week’s closing report that Nifty, Sensex continue to trend up. On Monday, the major indices opened low but recovered with minor losses. On the NSE, there were 692 advances, 1,209 declines and 54 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
     
     
    Radhakishan Damani-owned Bright Star Investments acquired 1.25% equity stake in Andhra Paper via open market transactions. Carlyle Group may buy 20% stake in Piramal Pharma for around USD 490 million. 
     
    Bharat Forge reported a loss of Rs 73.3 crore in March 2020 quarter against a profit of Rs 299.5 crore in the year-ago period. Revenue went down 47.2% year on year at Rs 881.1 crore against Rs 1,668.6 crore.
     
    Welspun India reported a consolidated profit at Rs 85.6 crore in the quarter ended March 2020 against a loss of Rs 79.3 crore in the year-ago period. Profit before exceptional item stood at Rs 110 crore for the quarter, an increase of 16.3% over Rs 94.6 crore in the same period last year.
     
    Shakti Pumps (India) reported net loss at Rs 6.1 crore against profit of Rs 16.5 crore YoY. Revenue went down 41.4% at Rs 92.6 crore against Rs 158 crore YoY.
     
    MRF reported 130% jump in its consolidated net profit for March 2020 quarter at Rs 679 crore against Rs 294 crore in the year-ago period. Revenue went down 11% at Rs 3,685.2 crore versus Rs 4,137.7 crore.
     
    Emami reported a consolidated net profit of Rs 22.75 crore for the March quarter, down 59.4% from the year-ago period. Revenue for the March quarter stood at Rs 532.68 crore, down 16.8% YoY.
     
    Housing & Urban Development Corporation (HUDCO) consolidated net profit jumped 86.6% to Rs 440.91 crore on 27.3% rise in total income to Rs 1900.40 crore in March 2020 quarter over the corresponding period in the previous year.
     
    BPL reported net profit of Rs12.66 crore in March 2020 quarter against Rs0.12 crore in the previous year. Revenues fell 46% YoY to Rs18.35 crore from Rs33.82 crore.
     
    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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