We had mentioned in previous week’s closing report that Nifty, Sensex were on an uptrend. On Monday, the major indices were volatile but ended with minor gains. On the NSE, there were 1,361 advances, 554 declines and 70 unchanged.
The trends of the major indices in the course of Monday’s trading are given in the table below:
Glenmark Pharmaceuticals received Indian regulatory approval to make and sell oral antiviral drug Favipiravir for treating mild-to-moderate COVID-19 infections in India. The Drugs Controller General of India's approval was part of India's accelerated approval process and the drug was meant for "restricted emergency use", meaning patients must sign their consent before being treated by the drug. The stock was up more than 28%.
Morgan Stanley Asia (Singapore) Pte bought 45,22,602 shares of Indiabulls Housing Finance. Separately, iShares Emerging Markets Dividend UCITS ETF bought 25,69,494 shares in company at Rs 189.51 per share and iShares Emerging Markets Dividend ETF bought 45,58,746 shares in company at Rs 189.51 per share.
India's Drug Regulator gave permission to Hetero and Cipla to manufacture and market antiviral drug Remdesivir for "restricted emergency use" on hospitalised COVID-19 patients, official sources said.
AIA Engineering reported 9.1% decline on year on year basis in net profits for the quarter ended March 2020 at Rs141.62 crore. Revenues declined 2.71% YoY to Rs886.14 crore.
Coal India is likely to engage mine developer cum operators (MDOs) to increase its coal output and reduce import dependency of the dry fuel in the coming years. As per media reports, the company has identified a total of 15 greenfield projects to operate through MDO model of which 12 are open cast and 3 underground, a release by Western Coalfields Ltd.
Ramco Systems reported a net loss of Rs 5.85 crore in Q4FY20 against a profit of Rs 8.7 crore in the same quarter of previous year. The company’s revenue stood at Rs 132.87 crore against Rs 141.44 crore in Q4FY19.
Kirloskar Industries reported 106% YoY increase in net profits for the quarter ended March 2020 at Rs38.85 crore. Revenues declined 14% YoY to Rs479.81 crore.
ICICI Bank divested 21.5 million equity shares of face value of Rs10 each of ICICI Prudential Life Insurance Company, representing 1.50 percent of its equity share capital at March 31, 2020.
Piramal Pharma Solutions, a subsidiary of Piramal Enterprises entered into a pact with G&W Laboratories Inc to acquire its solid oral dosage drug product manufacturing facility at Sellersville in US for USD 17.5 million.
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: