We had mentioned in Tuesday’s closing report that Nifty, Sensex were under pressure. The major indices opened low but rallied and closed with gains. On the NSE, there were 866 advances, 920 declines and 307 unchanged. The trends of the Indian stock markets in the course of Wednesday’s trading are given in the table below:
The board of Coffee Day Enterprises on Wednesday appointed S.V. Ranganath as its interim chairman, after the police in Mangaluru earlier recovered the body of its founding Chairman V.G. Siddhartha on the banks of the Nethravathi river almost 36 hours after he went missing. The stock was again locked at lower circuit (down 20%) today.
Riding the foreign direct investment policy liberalisation and reforms in the last financial year, the country received $64.37 billion FDI in 2018-19. According to a report by Department for Promotion of Industry and Internal Trade (DPIIT), it was up from $60.97 billion received in FY18. "The country registered the highest FDI inflow of $64.37 billion during 2018-19. FDI worth $286 billion has been received in last five years," DPIIT said in its annual report 2018-19.
Axis Bank on Tuesday posted 95.42% year-on-year rise in net profit at Rs1,370.08 crore for the quarter ended June 2019 (Rs701.09 crore). Net interest income increased 13.10% YoY to Rs5843.65 crore for the quarter ended June 2019 against Rs166.80 crore in the corresponding quarter last year. The stock price fell 4.64%.
Future Retail posted a 4.67% y-o-y rise in consolidated net profit at Rs159.24 crore for the quarter ended June 2019. Total income during the quarter stood at Rs5,206.46 crore, up 13.35% y-o-y. The stock price fell 1.19%.
CreditAccess Grameen posted net profit of Rs95.83 crores for the quarter ended June 2019 (Rs.72.22 crores) up 32.69% y-o-y. Net Interest income grew 31.68% y-o-y to Rs376.70 crores (Rs.286.07 crores). The stock price fell 2.82%.
Indian Oil Corporation posted net profit of Rs3,623.69 crores for the quarter ended June 2019 (Rs7,175.59 crores) down 49.50% y-o-y. Total income grew only 0.48% y-o-y to Rs1,53,109.93 crores (Rs1,52,377.02 crores). The stock price rose 3.93%.
Allahabad Bank posted net profit of Rs128 crores for the quarter ended June 2019 as against net loss of Rs1,944.37 crores in the corresponding period in the previous year. Net interest income declined 0.97% y-o-y to Rs4,747.49 crores (Rs4,794.04 crores).
Hero MotoCorp’s revenue from operations stood at Rs8,030 Crore (Rs8810 crores in Q1 FY19) and profit after tax at Rs1,257 crore (Rs909 crore). The stock price rose 3.90%.
Vinati Organics posted net profit of Rs82.35 crores for the quarter ended June 2019 (Rs64.25 crores) up 28.17% y-o-y. Total income grew 9.15% y-o-y to Rs.302.16 crores (Rs276.84 crores). The stock price fell 4.20%.
Symphony, maker of domestic appliance reported a 66% rise in consolidated net profit to Rs33.41 crore for the June quarter (Rs20.10 crore) while consolidated sales rose by 100% to Rs291.30 crore from Rs145.56 crore. The stock price fell 2.33%.
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: