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: