We had mentioned in Monday’s closing report that Nifty, Sensex were losing upward momentum. The major indices suffered losses today. On the NSE, there were 691 advances, 1,092 declines and 362 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Airtel and Vodafone Idea are discussing with their legal teams on filing petitions for reviewing the Supreme Court's recent order on adjusted gross revenue (AGR) after the Department of Telecom (DOT) told them to approach the court in this regard.
Any review petition is required to be filed by November 24 as there is a time limit of a month to file for reviewing a court order. The deadline for paying the AGR amount of Rs83,000 crore is January 24, which includes Rs43,000 crore for Airtel and Rs40,000 crore for Vodafone Idea.
Rail Vikas Nigam reported an increase in revenues by 106% y-o-y for the quarter ended September 2019 to Rs3,827 crore. Net profits increased 157% y-o-y to Rs220 crore.
Insecticides India reported increase in revenues by 10% y-o-y for the quarter ended September 2019 to Rs505 crore. Net profits increased 14% y-o-y to Rs49 crore.
Kaveri Seed Company reported increase in revenues by 14% y-o-y for the quarter ended September 2019 to Rs120 crore. Net profits decreased 12% y-o-y to Rs13.63 crore.
3M India reported increase in revenues by 3% y-o-y for the quarter ended September 2019 to Rs774 crore. Net profits increased 42% y-o-y to Rs100 crore.
Trident Limited has been granted patent for 'Apparatus and Method for treating an industrial Effluent containing Sodium Sulphate' by Indian Patent Office, Government of India. The present invention relates to treatment of industrial effluents. The invention provides an apparatus and method for treatment of Industrial effluents that contain a plurality of soluble or insoluble contaminants including sodium sulphate which may be discharged from textile dyeing process.
Deep Industries Ltd has received letter of award for hiring of natural gas - compression service at GGS North Gandhar for capacity of 1,00,000 SCMD and period of 3 years. The total estimated value of the said award is approximate Rs20.25 Cr. Another award for hiring of service for gas dehydration services at ONGC Agartala for the period of 3 years. The total estimated value of the said award is approximate Rs28.49 Cr.
The board of Vinati Organics has approved the subdivision of equity shares from one share of face value of Rs2 to two shares of face value of Re1 each, subsequent to the approval of the shareholders through postal ballot.
The Edelweiss Group announced a partnership between Edelweiss Alternative Asset Advisors (EAAA) and leading South Korean Financial Services conglomerate Meritz Financial Group, to launch the first fund of the financing platform, set up by Edelweiss. The platform will house funds that will buyout existing residential real estate loans and provide requisite completion financing to good quality, commercially viable projects. The funds within the platform will be managed by Edelweiss's Alternative Asset Management business. The first fund of this platform is targeted to be of $ 425 million. The platform is targeting to raise $ 1 billion, primarily from similar International Institutional investors, over the next 12 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: