We had mentioned in last week’s closing report that Nifty, Sensex were trendless. The major indices moved within a range this week and ended flat.
The trend of the major indices in the week is given in the table:
On Monday, the major indices opened in the green but ended with minor losses. On the NSE, there were 1,276 advances, 543 declines and 388 unchanged.
Adani Green Energy reported a standalone net profit of Rs 138 crore against Rs 5.52 crore in the year-ago period. Standalone total income stood at Rs 253 crore against Rs 192 crore YoY.
Skipper reported a net loss at Rs 11.6 crore against a profit of Rs 7.9 crore YoY. Revenue went down 34.8% YoY at Rs 220.7 crore against Rs 338.5 crore.
REPRO India reported a net loss of Rs17 crore for the quarter ended June 2020 compared to a profit of Rs6.93 crore YoY. Revenues declined 80% YoY to Rs20.57 crore.
On Tuesday, the major indices ended with decent gains. On the NSE, there were 1,105 advances, 713 declines and 372 unchanged.
Gayatri Projects was declared the lowest bidder for a project in Uttar Pradesh worth Rs 196 crore. Minda Industries raised over Rs 242 crore through rights issue to existing investors.
Future Retail incurred a net loss of Rs 561.95 crore against a profit of Rs 159.24 crore in the corresponding quarter a year ago. Revenue from operations stood at Rs 1,358.11 crore against Rs 5,197.11 crore YoY.
PVR’s consolidated loss after tax for the quarter was Rs 226 crore as compared to a profit of Rs 18 crore during the corresponding period of last year. Consolidated revenues were Rs 55 crore as compared to Rs 887 crore YoY.
On Wednesday, the major indices ended with gains. On the NSE, there were 957 advances, 838 declines and 401 unchanged.
Russia's sovereign wealth fund said it will supply India's Dr. Reddy's Laboratories 100 million doses of the Sputnik-V vaccine against COVID-19 once it receives regulatory approval in India. The Russian Direct Investment Fund added that it had agreed to cooperate on clinical trials and the distribution of the vaccine with the Indian firm.
Power Mech Projects reported a net loss of Rs 33.07 crore in the quarter ended June 2020 as against a net profit of Rs 26.46 crore YoY. Sales declined 46.92% to Rs 248.64 crore against Rs 468.44 crore YoY.
ITD Cementation reported consolidated net loss of Rs 16.96 crore compared with a net profit of Rs 16.92 crore YoY. Consolidated net sales were down 43.3% YoY to Rs 399.73 crore.
On Thursday, the major indices ended in red with minor losses. On the NSE, there were 690 advances, 1,132 declines and 376 unchanged.
Happiest Minds Technologies stock registered a massive opening on the bourses, surging about 138% on an intraday basis on its debut on September 17.
Ircon International bagged order worth Rs 1,900 crore from the Indian Railways for electrification works on various routes.
Dhanuka Agritech’s board approved the buyback of equity shares worth up to Rs 100 crore and fixed September 28 as the record for determining the entitlement of equity shareholders.
On Friday, the major indices ended with minor losses. On the NSE, there were 826 advances, 990 declines and 383 unchanged.
Blackstone is looking to sell a large chunk of its shareholding in Essel Propack through block trades. The deal could fetch the investor as much as USD 251 million, Mint reported.
US-based Rosen Law and Schall Law firms filed class-action lawsuits against HDFC Bank. The law firms have filed accuse the company of making false and misleading statements and for failing to maintain appropriate disclosure controls and internal controls on financial reporting.
Elantas Beck India signed a MoU with Talegaon Industrial Parks for the acquisition of land situated at Pune, Maharashtra for setting up a new greenfield manufacturing facility.