Nifty, Sensex under some pressure – Wednesday closing report
Moneylife Digital Team 09 June 2021
We had mentioned in Tuesday’s closing report that Nifty, Sensex may continue to trend higher. On Wednesday, the indices opened higher but ended with major losses. On the NSE, there were 713 advances, 1,217 declines and 328 unchanged.
 
The trend of the major indices on Wednesday’s trading are given in the table below:
 
 
Tata Power Company's proposed purchase of 51% stake each in three power utilities in Odisha has been cleared by fair trade regulator CCI.
 
The board members of Punjab National Bank (PNB) including its independent directors may seek more clarity on the PNB Housing Finance fund raising deal.
 
The Mumbai bench of NCLT approved Vedanta Group subsidiary Twin Star Technologies’ resolution plan for Videocon Industries and 12 other companies of the Videocon Group. As per the terms of the resolution plan, Videocon Industries will be delisted.
 
Forbes & Company has entered into agreement for sale with Equinix India for sale of 3.804 acres of land at Chandivali, Mumbai for a consideration of Rs 200 crores.
 
GAIL (India) net profit for the Jan-Mar 2021 quarter declined to Rs 2,487 crore from Rs 4,728 crore in the corresponding period of the previous financial year. Revenue declined to Rs 15,738 crore against Rs 17,923 crore YoY.
 
Teamlease Services posted net profit of Rs 18.9 crore against loss of Rs 29.4 crore in the year-ago period. Revenue was up at Rs 1,340.5 crore versus Rs 1,330.3 crore YoY.
 
Welspun Corp received multiple orders worth Rs 1,725 crore. With these orders, the company’s order book stands at 525 KMT valued at approximately Rs 4,800 crore, after considering execution up to May 2021.
 
Insecticides India received patent for composition of Hexacondazole & Carbendazim from the Patent Office of India for a term of 20 years from 15 June 2017.
 
Indian Metals & Ferro Alloys reported net profit at Rs 65.4 crore against loss of Rs 51.9 crore YoY. Revenue was up 52% at Rs 576.1 crore against Rs 379 crore YoY.
 
PTC India Financial Services reported loss of Rs 54 crore against profit of Rs 7 crore YoY. Total income declined 17% YoY to Rs 274 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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