US markets derail Indian bulls; more decline coming – Tuesday closing report
We had mentioned in Monday’s closing report that movement in Nifty, Sensex may continue to rise. On Tuesday, the major indices suffered big losses. On the NSE, there were 481 advances, 1,368 declines and 308 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Promoters of Dabur reportedly bought an 8.48 percent stake in Eveready Industries through a bulk deal. The Burman family confirmed the purchase to CNBC-TV18.
 
Ace investor and billionaire Radhakishan Damani acquired a 1.3% equity stake in BF Utilities. Damani acquired 4.91 lakh equity shares in Kalyani group company.
 
Biocon said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around Rs 8,000 per vial. The company received the Drugs Controller General of India's nod to market Itolizumab injection 25mg/5mL solution for emergency use for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome due to COVID-19.
 
Mindtree reported that its net profit grew 3.3% at Rs 213 crore in the June quarter 2020 against Rs 206.2 crore QoQ. Rupee revenue was down 6.9% at Rs 1,908.8 crore against Rs 2,050.5 crore QoQ. 
 
Century Textiles & Industries reported consolidated net loss at Rs 40 crore in the June quarter against a profit of Rs 64.6 crore YoY. Revenue was down 54.3% at Rs 399.9 crore against Rs 875.1 crore, YoY.
 
Wipro reported net profit growth of 0.12% YoY for the June quarter at Rs.2,390.4 crore. Revenues remained flat at Rs.15,571 crore.
 
Khadim India reported net loss of Rs.19.87 crore during the June quarter, against profit of Rs.1.20 crore in the corresponding period in the previous year. Revenues declined 23.02% YoY to Rs.159.75 crore.
 
Cipla received final approval for its Icatibant Injectable 30mg/3mL from the United States Food and Drug Administration (US FDA).
 
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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