Spandana Spoorthy: If the Worst Is Behind, Worth Taking a Look
The hardest-hit sector due to COVID-19 disruption, and consequent lock-down, was the financial sector. Within that, while large, well-run private banks would be hit less because of deeper pockets and quality of capital, microfinance institutions (MFIs) have been hit the most, thanks to the nature of their business (physical collection of cash) and the nature of clientele (weak borrowers)...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
  • Weekly Moneylife Indices & Sector Trends
    INDIAN MARKET TRENDS
    From 12th October to 15th October, the Sensex, the NIFTY and ML Mega-cap Index fell 2% each. ML Large-cap Index, ML Mid-cap Index and ML Small-cap Index fell 3% each. ML Micro-cap Index fell 4%.
     
     
    FUND FLOWS
    Foreigners: Foreign institutional investors were net buyers of equities during the period (Rs1,665.10 crore). They bought shares...
    Premium Content
    Monthly Digital Access

    Subscribe

    Already A Subscriber?
    Login
    Yearly Digital Access

    Subscribe

    Moneylife Magazine Subscriber or MAS member?
    Login

    Yearly Subscriber Login

    Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
  • Nifty, Sensex in no man’s land – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex may continue to head higher. The major indices headed downward and closed with losses over previous Friday’s closing price.
     
    The trend of the major indices in the week is given in the table:
     
     
    On Monday, the major indices opened higher but declined and ended with minor gains. On the NSE, there were 650 advances, 1,247 declines and 86 unchanged.
     
    GTPL Hathway reported a net profit of Rs 34.68 crore in the September quarter, up 37.46% year-on-year. Sales declined 13.95% to Rs 403.18 crore as against Rs 468.56 crore YoY. 
     
    Indiabulls Housing Finance raised Rs 441 crore by selling a portion of its stake in OakNorth Holding Ltd, the parent company of OakNorth Bank, to US-based Riva Capital Partners.
     
    GNA Axles reported net profit of Rs 22.93 crore in the quarter ended September 2020, up 2.92% YoY. Sales declined 13.23% to Rs 222.11 crore against Rs 255.98 crore in the year-ago period.
     
    On Tuesday, the major indices moved in a range and ended flat. On the NSE, there were 802 advances, 1,074 declines and 102 unchanged.
     
    Wipro reported a consolidated profit of Rs 2,465.7 crore for the July-September quarter against Rs 2,390.4 crore in the previous quarter.
     
    Consolidated revenue increased 1.2% sequentially to Rs 15,096.7 crore. The board approved a buyback proposal for purchase of up to 23.75 crore equity shares (representing 4.16 percent of total paid up equity).
     
    Shalby posted a standalone net profit at Rs 24.16 crore for the second quarter ended September 30, as against a loss of Rs 8.7 crore a year ago. Its standalone revenues stood at Rs 109 crore as against Rs 126 crore in the same period last year.
     
    Infosys completed the acquisition of US-based product design and development firm Kaleidoscope Innovation for up to $42 million.
     
    On Wednesday, the major indices opened lower than previous close but ended in the green with minor gains. On the NSE, there were 832 advances, 1,006 declines and 371 unchanged.
     
    Karnataka Bank reported a nearly 13% YoY rise in net profit at Rs 119.44 crore for the September quarter as bad loans moderated. Total interest income rose to Rs 1,933.52 crore, against Rs 1,902.41 crore YoY.
     
    Infosys reported a consolidated profit of Rs 4,845 crore for the September quarter. Consolidated revenue from operations increased to Rs 24,570 crore in Q2FY21, compared to Rs 23,665 crore in the previous quarter. 
     
    A US apparel industry watchdog has launched an investigation into underwear maker Jockey International's Indian partner Page Industries following allegations of human rights abuses at one of its factories, Reuters reported.
     
    On Thursday, the major indices suffered major losses. On the NSE, there were 507 advances, 1,359 declines and 342 unchanged.
     
    Tata Elxsi reported a 58.3% increase in net profit to Rs 78.8 crore for the September 2020 quarter. It had registered a net profit of Rs 49.8 crore in the year-ago period. Revenue from operations rose 11.5% YoY to Rs 430.2 crore, against Rs 385.8 crore in the corresponding period a year ago.
     
    Mindtree net profit for the September 2020 quarter jumped 88% YoY to Rs 253.7 crore, against Rs135 crore in the previous year. Revenues rose 0.6% YoY to Rs1,926 crore.
     
    Rane Brake Lining net profit jumped 54.7% YoY at Rs 11.5 crore against Rs 7.5 crore. Revenue went down 3.7% at Rs 105.4 crore against Rs 109.4 crore (YoY). 
     
    On Friday, the major indices bounced back with decent gains. On the NSE, there were 1,160 advances, 675 declines and 370 unchanged.
     
    Cyient reported a 14.8% YoY decline in its consolidated net profit to Rs 83.9 crore for September 2020 quarter. Revenue fell 13.4% YoY to Rs 1,003.3 crore as against Rs 1,158.9 crore in the year-ago period.
     
    HCL Tech net profit came in at Rs 3,142 crore against Rs 2,711 crore YoY. Revenues rose to Rs18,594 crore from Rs17,527 crore in the year ago period.
     
    Shakti Pumps’ consolidated net profit came in at Rs 22.5 crore against loss of Rs 4.3 crore YoY. Consolidated revenue came in at Rs 201.1 crore against Rs 91.2 crore YoY. 
     
    Philips Carbon’s net profit went down 25% YoY at Rs 58 crore against Rs 77.4 crore. Revenue went down 23% YoY at Rs 664 crore against Rs 863 crore.
     
  • User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)
    FREE: Your Complete Family Record Book
    Keep all the Personal and Financial Details of You & Your Family. In One Place So That`s Its Easy for Anyone to Find Anytime
    We promise not to share your email id with anyone