Pain Ahead in Stock Markets. Tread with Caution
The near-term outlook of the economy is totally dependent on how soon we can get rid of the pandemic and come back to life as usual. Even after life comes back to normal, there will be a lot of gaps to fill in terms of labour relocation, labour costs, medical compliance costs and so on. Protectionism is rising which can make us blind to the global affairs for some time. When trade shrinks,...
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  • Nifty, Sensex trending up – Wednesday closing report
    On Wednesday, the major indices closed with minor gains. On the NSE, there were 1,212 advances, 664 declines and 98 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
     
     
    Reliance Industries subsidiary Reliance Retail Ventures (RRVL) has acquired a majority equity stake in Vitalic Health (Vitalic), owner of website NetMeds, for a cash consideration of approximately Rs620 crore. This investment represents 60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, viz: Tresara Health, Netmeds Market Place and Dadha Pharma Distribution. 
     
    Yes Bank said it has repaid Rs 35,000 crore to the central bank out of the total special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support.
     
    Yes Bank offloaded 8.27% equity stake in CG Power, via open market transactions on August 18.
     
    Shreyas Shipping approved the sale of its businesses to Unifeeder ISC FZCO. The company would sell its containerized domestic coastal and Exim feeder shipping business for a gross cash consideration of $19 million, subject to adjustments on account of debt, cash and working capital post the closing. It will also sell its entire stake of 29.22% in Avana Logistek Limited (ALL) to Unifeeder for a gross cash consideration of USD 8.766 million.
     
    Ramky Infrastructure reported net loss of Rs62 crore for the June quarter 2020, compared to net loss of Rs5.76 crore YoY. Revenues dipped 53% YoY to Rs276.10 crore.
     
    Navneet Education redeemed commercial paper (CP) of Rs 50 crore issued on May 20, 2020 listed on National Stock Exchange of India after making payment on due date.
     
    Manappuram Finance will allot 1000 secured rated redeemable non –convertible debentures having the face value of Rs 10,00,000 each aggregating to Rs 100 crore on a private placement basis.
     
    Man Industries received a new export order of approximately Rs 405 crore. With this, the total unexecuted order book of the company stands at approximately Rs 1,800 crore, out of which 80% is exports. These orders are meant to be executed in the current financial year.
     
    Ruchi Soya Industries reported 13% YoY decline in net profits for June quarter at Rs12.25 crore. Revenues declined 2% YoY to Rs3,057 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:
     
  • User 

    Nifty, Sensex rallies again – Tuesday closing repot
    We had mentioned in Monday’s closing report that Nifty, Sensex continue to trade in a narrow range. On Tuesday, the major indices rallied and posted major gains. On the NSE, there were 1,294 advances, 518 declines and 372 unchanged.
     
    The trends of the major indices in the course of Tuesday’s trading are given in the table below:
     
     
    Zee Entertainment Enterprises consolidated net profit went down 94.3% YoY to Rs 30.4 crore against Rs 530.6 crore. Consolidated revenue was down 34.7% YoY to Rs 1,312 crore against Rs 2,008 crore.
     
    KNR Constructions consolidated net profit for June quarter went up 8.8% YoY to Rs 46.68 crore against Rs 42.89 crore. Revenue went down at Rs 522.52 crore against Rs 530.71 crore YoY. 
     
    SBI Cards and Payment Services board has approved the allotment of 5,000 fixed-rate, unsecured, redeemable, non-convertible debentures aggregating to Rs 500 crore on private placement basis.
     
    Singularity Holdings acquired 35 lakh shares of CG Power and Industrial Solutions at Rs 13.95 per share on the NSE and Blue Diamond Properties bought 4,12,93,778 shares of Rs 13.97 per share on the BSE.
     
    GPT Infraprojects bagged a Rs196.30-crore order for the Metro Railway project in Kolkata. The contract includes the construction of Metro Railway Viaduct from P276 to P314 including Mominpur Station and Majerhat Station and Ramp at Joka Depot end.
     
    Vascon Engineers reported a consolidated net loss of Rs 37.3 crore against a profit of Rs 5.7 crore YoY. Consolidated revenue went down 66.8% YoY to Rs 43.4 crore against Rs 130.6 crore.
     
    Madras High Court rejected Vedanta Resources Plc’s petition to challenge the March 2018 closure order by the Tamil Nadu government of Sterlite Copper smelter plant in Tuticorin, about 610 km from Chennai, in March 2018.
     
    Petronet LNG reported an 11% YoY decline in consolidated net profit to Rs 499.79 crore compared to Rs 561.94 crore in the year-ago.
     
    Gujarat Industries Power Company reported 29% YoY decline in net profits for June quarter at Rs60.86 crore. Revenues declined 6% YoY to Rs343 crore.
     
    KNR Constructions reported 8.6% YoY rise in net profits to Rs46.58 crore. Revenues declined 3.63% YoY to Rs529.51 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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