We had mentioned in Wednesday’s closing report that the economic package announced by the finance minister fuelled the market rally.
The major indices suffered a large decline today. On the NSE, there were 722 advances, 1,032 declines and 361 unchanged.
The trends of the major indices in the course of Thursday’s trading are given in the table below:
Share price of Reliance Industries fell over 4% as it was trading ex-rights. The company had announced fundraising of Rs 53,125 crore via 1:15 rights issue and fixed May 14 as the record date.
Godrej Consumer reported more than a 75% year-on-year drop in consolidated net profit at Rs 230 crore in the fourth quarter ended March 2020, hit by disruptions in sales because of the coronavirus outbreak.
Lupin said its facility in Vizag, Andhra Pradesh, has received the inspection closure report from the US health regulator.
ABB India reported 43% decline in net profit to Rs 66 crore in the March 2020 quarter compared to Rs116 crore in the March 2019 quarter. Total income of the company dropped to Rs 1,522 crore in the March quarter from Rs 1,850 crore in the same quarter of last year.
Finolex Industries has partially resumed operations in a phased manner at its Ratnagiri (Maharashtra) and Masar (Gujarat) plants.
PNC Infratech was declared an L1 bidder by NHAI for a road project in UP under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs 1,412 crore.
TV Today Network reported 15.60% YoY rise in net profits for March 2020 quarter at Rs27.79 crore. Revenue increased 13.53% to Rs216.58 crore.
Escorts reported 9.60% YoY rise in net profits for March 2020 quarter at Rs127.90 crore. Revenues declined 15% YoY to Rs1,415.95 crore. The board has recommended a dividend of Rs2.50 per equity share.
Tata Motors announced a calibrated restart of manufacturing operations for both commercial and passenger vehicles from its plants located at Pantnagar (Uttarakhand) beginning last week and from Sanand (Gujarat). Tata Motors plants in Lucknow (Uttar Pradesh), Dharwad (Karnataka), Jamshedpur (Jharkhand) and Pune (only for ambulance vehicle manufacturing) are in final stage of readiness and expect to begin production over the next few days.
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: