We had mentioned in Monday’s closing report that Nifty, Sensex are trending up. The major indices ended with gains. On the NSE, there were 874 advances, 896 declines and 356 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Bank of Baroda said that bank operations may get badly affected owing to the proposed strike by trade union organizations on October 22. In a statement, the bank, however, assured that it is taking all necessary steps for smooth functioning in bank branches on the day of strike.
Swedish telecom gear maker Ericsson signed a deal with Bharti Airtel to deploy its 5G-ready Cloud packet core in the domestic telecom major's network in the country. The deployment would enhance capacity in Airtel's network and enable it to address the rapidly-growing demand for high-speed data services, Ericsson said in a statement.
Headwinds from the US-China trade war have hit Wipro, its chief executive Abidali Neemuchwala said on Tuesday. "Some of our customers and their supply chains are impacted in certain sectors by the overhang of macro-uncertainty arising out of the trade war between the US and China," he told reporters. Noting that the demand environment, however, remained unchanged for IT spends, Neemuchwala said the company's business in the US market grew 9.4% year-on-year while Europe was weak.
Reliance Jio has asked regulator Trai to stop the consultation process on a new timeline for removing Interconnect Usage Charges (IUC) and enforce ''Bill and Keep'' regime under the IUC regulations from January 1, 2020. The incumbents - Airtel and Vodafone - oppose the BAK model, saying this is a break away from the global practice of IUC.
Som Distilleries & Breweries wholly owned subsidiary Woodpecker Distilleries & Breweries has started supplying Woodpecker draught beer - filtered wheat beer to the key market of Bangalore. The company has got very good response of the product from the consumers.
Alicon Castalloy reported year-on-year 13% decrease in revenues to Rs267 crore for the quarter ended September 2019. Net profits declined 32% y-o-y to Rs9.35 crore.
Federal Bank reported year-on-year 20% increase in net interest income to Rs3,748 crore for the quarter ended September 2019. Net profits increased 52% y-o-y to Rs424 crore.
PNC Infratech has received letter of award from NHAI for the construction of NH-56, 4-lane bypass connecting NH-56 in the state of Uttar Pradesh for a contract value of Rs1,062 crore, on 15 October 2019. Construction of this project is to be completed in 36 months.
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: