Sudden global sell off in the afternoon unnerve the bulls – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex continue its uptrend. On Wednesday, the major indices suffered major losses. On the NSE, there were 754 advances, 1,074 declines and 295 unchanged.
 
The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
Asian Paints reported a 2.1% year-on-year decline in consolidated profit at Rs 462 crore for March 2020 quarter. Revenue declined 7.1% to Rs 4,635.6 crore over the past year.
 
JMC Projects said it has secured fresh orders worth Rs 938 crore, which includes water supply projects in Uttar Pradesh worth Rs 841 crore and building project in South India worth Rs 97 crore.
 
India Cements reported a consolidated net loss of Rs 11.76 crore for the quarter ended March 2020. It had posted net profit of Rs 32.57 crore in the corresponding period in the previous year. Revenue was down 26.62% YoY to Rs 1,176.40 crore.
 
GAIL India reported 168.9% year-on-year growth in standalone profit for the quarter ended March 2020 driven by tax write-back and strong operating performance.
 
Indian Oil Corporation reported a net loss of Rs 5,185 crore for the quarter ending March 2020, aided by higher inventory losses. The company had reported a net profit of Rs 6,099 crore a year earlier.
 
Balrampur Chini net profit for the March quarter declined 14.8% YoY at Rs 230 crore, impacted by lower taxation in base quarter.
 
Reliance Infrastructure shares rallied after Chairman Anil Ambani said the company will be completely debt-free this financial year. RInfra, which is sitting on a debt of over Rs 6,000 crore, has been working towards monetising its assets to reduce debt.
 
Power Finance Corporation reported net profits of Rs 693 crore against Rs 3,391 crore YoY. NII stood at Rs 5,554 crore against Rs Rs 5,036 crore YoY.
 
HG Infra Engineering reported 40% YoY rise in net profits for the March 2020 quarter at Rs54.32 crore. Revenues jumped 8.46% to Rs636 crore.
 
Sharda Cropchem reported 34% YoY rise in net profits for the March 2020 quarter at Rs142 crore. Revenues jumped 15% to Rs886 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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    Nifty, Sensex uptrend continues – Tuesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex were still on an uptrend. On Tuesday, the major indices were volatile but ended with minor gains. On the NSE, there were 1,323 advances, 504 declines and 293 unchanged.
     
    The trends of the major indices in the course of Tuesday’s trading are given in the table below:
     
     
    Larsen & Toubro secured an EPC contract to construct Packages 11 and 22 of the Delhi Vadodara Expressway, which when completed, will be the country's longest expressway of National Highways Authority of India under its flagship Bharat Mala program.
     
    Skipper’s net profit jumped 58.42% YoY to Rs 28.12 crore in the quarter ended March 2020. Sales of the company were up 1.26% to Rs 438.85 crore in the quarter ended March 2020 as against Rs 433.39 crore during the previous quarter ended March 2019. 
     
    Info Edge (India) approved raising of funds through issue of equity shares to eligible qualified institutional buyers for an aggregate amount not exceeding Rs 1,875 crore in accordance with SEBI regulations.
     
    Kolte - Patil Developers posted net loss of Rs 16.5 crore in the quarter ended March 2020 against profit of Rs 40.1 crore in a year ago period. Revenue of the company rose 13.5% at Rs 221.7 crore versus Rs 195.4 crore.
     
    Indian Bank reported net loss of Rs 217.7 crore during March-end 2020 quarter. Net interest income grew by 13.6% YoY to Rs 2,002.7 crore from Rs 1,763.5 crore, during the same period last year. Indian Bank's provisions stood at Rs 1,891.9 crore as against Rs 1,529.3 crore QoQ.
     
    D.B.Corp reported 55.83% decline in consolidated net profit at Rs 24.05 crore for March quarter 2019-20 due to the impact of COVID-19. Revenue from operations was down 17.30% to Rs 486.65 crore during the quarter under review as against Rs 588.52 crore in the year-ago period.
     
    GE Power India reported over 44% decline in consolidated net profit at Rs 14.87 crore for the quarter ended March 2020. Total income rose to Rs 773.65 crore in the quarter under review from Rs 400.81 crore in the same period a year ago.
     
    Balaji Amines reported rise of 16.5% in consolidated net profit to Rs 30.82 crore on 13.9% rise in net sales to Rs 258.03 crore in Q4 March 2020.
     
    Balrampur Chini Mills reported fall of 16.24% in net profits to Rs241.44 crore for the quarter ended March 2020. Revenues grew 32.33% to Rs1,766.61 crore.
     
    Vardhman Textiles reported fall in net profits of 19% YoY to Rs145.71 crore for the quarter ended March 2020. Revenues fell by 12% to Rs1,637.19 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 

    Sensex, Nifty still on an uptrend – Monday closing report
    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:
     
     
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