We had mentioned in last week’s closing report that Nifty, Sensex were under pressure due to correction in US markets. The major indices were volatile this week but ended with decent gains.
The trend of the major indices in the week is given in the table:
On Monday, the major indices were flat. On the NSE, there were 754 advances, 1,097 declines and 362 unchanged.
Man Industries bagged a Rs 370-crore order from Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation.
Jubilant Life Sciences reported a 52.42% YoY decline in its consolidated net profit to Rs 88.01 crore for the quarter ended June 30, 2020. Consolidated revenues stood at Rs 1,892.92 crore compared to Rs 2,181.86 crore.
Sterling and Wilson signed orders worth AUD 300 million (~ Rs 1,600 crore) in Australia. The company has bagged two large scale solar projects which will have an installed capacity of over 300 MW. Tata Sons acquired 53,02,681 shares of Tata Motors.
On Tuesday, the major indices ended with minor losses. On the NSE, there were 560 advances, 1,251 declines and 379 unchanged.
Info Edge reported a 149% YoY jump in consolidated net profit to Rs 93.66 crore during the quarter ended June 2020. Consolidated revenue in stood at Rs 285 crore, down 10.85% YoY.
Ashoka Buildcon emerged as the lowest bidder (L-1) for two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore.
Future Enterprises reported a consolidated net loss of Rs 394.77 crore in Q4 FY20 as against a net profit of Rs 66.58 crore in the year-ago. Revenue fell 50.01% YoY to Rs 783.28 crore.
On Wednesday, the major indices ended with minor losses. On the NSE, there were 557 advances, 1,276 declines and 354 unchanged.
Reliance Industries announced that private equity giant Silver Lake Partners will invest Rs 7,500 crore in its retail unit Reliance Retail in exchange for a 1.75% stake.
Indian Hume Pipe received an order of Rs 134.82 crore from Rural Water Supply & Sanitation, Odisha.
CG Power and Industrial Solutions reported a consolidated net loss of Rs 243 crore for June quarter 2020. In the previous year, the company's loss was Rs 72 crore. Revenues declined to Rs363 crore, compared to Rs1,774 crore.
On Thursday, the major indices posted major gains. On the NSE, there were 1,286 advances, 528 declines and 375 unchanged.
Reliance Industries became the first Indian company to hit a market cap of $200 billion. So far in 2020, Reliance gained a market cap of over $70 billion.
Syngene International got ICMR's approval for HiMedia-Syngene COVID-19 antibody test kit. The ELISafe 19TM antibody test kit has a sensitivity of 100 percent and specificity of 99 percent.
State Bank of India said it raised Rs 4,000 crore using the Basel compliant Additional Tier 1 (AT1) bonds at a coupon rate of 7.74%.
On Friday, the major indices posted minor gains. On the NSE, there were 961 advances, 836 declines and 390 unchanged.
Rail Vikas Nigam reported 22% YoY decline in net profits for the quarter ended June 2020 at Rs141 crore. Revenues rose 2.36% YoY to Rs2,966 crore.
Adani Green Energy reported 122% YoY rise in net profits at Rs21.75 crore for the June 2020 quarter. Revenues grew 30% YoY to Rs878 crore.
Vodafone Idea is planning to raise Rs10,000 crore via sale of fibre business and data centre and another Rs25,000 crore through equity and debt financing.