We had mentioned in last week’s closing report that Nifty, Sensex were rallying on anticipation of the economy opening up.
The major indices continued to rise. The trend of the major indices in the week is given in the table:
On Monday, the major indices clocked major gains. On the NSE, there were 1,488 advances, 324 declines and 331 unchanged.
Voltas reported a 12.5% jump in its consolidated March 2020 quarter net profit at Rs 159.5 crore against Rs 141.74 crore in the corresponding year-ago period. The total income for the quarter was up at Rs 2,150.09 crore as compared to Rs 2,120.02 crore in the previous year. The board recommended a dividend of Rs 4 per share.
The board of PVR plan to meet on June 8 to consider and approve audited financial results and to decide on raising funds by way of issue of equity shares of the company.
Rashtriya Chemicals and Fertilisers reported standalone net profit of Rs 142 crore in the March 2020 quarter, 193% higher than the Rs 48 crore it earned in the corresponding quarter in the previous year.
Maruti Suzuki reported total sales of 18,539 units in May 2020.
On Tuesday, the major indices continued to rally. On the NSE, there were 1,380 advances, 428 declines and 314 unchanged.
Kotak Mahindra Bank MD, Uday Kotak, sold stake worth around Rs 6,000 crore to comply with a settlement agreement struck with the Reserve Bank of India (RBI) in January on promoter stake dilution.
Britannia Industries reported 26.08% year-on-year rise in net profits for the March 2020 quarter, at Rs374.75 crore. Revenues grew 2.99% to Rs2,946.32 crore.
TVS Motor reported total sales of 58,906 units in May after resuming operations which were suspended due to nationwide lockdown. Total two-wheeler sales stood at 56,218 units, out of which domestic sales were at 41,067 units last month. Three-wheeler sales stood at 2,688 units in May.
On Wednesday, the major indices continued to rally but faced a small correction in the end, ending with minor gains. On the NSE, there were 1,241 advances, 568 declines and 313 unchanged.
Saregama India announced a partnership with Facebook. The global licensing deal will give users of Facebook and its video-sharing app Instagram access to Saregama’s catalogue.
Steel Strips Wheels bagged an export order for more than 8,000 wheels for EU and US truck trailer market to be executed in June and July from its Chennai truck wheels plant.
Adani Power has appointed merchant banker Vivro Financial Services Pvt Ltd to evaluate the proposal to delist its equity shares from BSE and National Stock Exchange.
On Thursday, the major indices faced a minor correction after six days of rally. On the NSE, there were 953 advances, 834 declines and 333 unchanged.
HDFC offloaded 1.28% equity stake (2.60 crore equity shares) in its subsidiary HDFC Life through bulk deals. The deal was worth Rs 1,274.57 crore, while HDFC Life’s market capitalisation stood at Rs 1,01,241.34 crore.
Safari Industries India reported 22.83% rise in net profits for the quarter ended March 2020 at Rs4.68 crore. Revenues grew 1.62% YoY to Rs145.08 crore.
Aurobindo Pharma reported 45.2% YoY rise in consolidated net profit to Rs 849.8 crore for the quarter ended March 31, 2020, against Rs 585.4 crore during the same quarter in FY19.
On Friday, the major indices posted minor gains. On the NSE, there were 1,543 advances, 280 declines and 300 unchanged.
SBI reported standalone profit of Rs 3,580.81 crore in January-March quarter, growing four-fold YoY due to lower provisions and stake sale. Net interest income declined 0.8% year-on-year to Rs 22,766 crore in the quarter ended March 2020 due to moderate loan growth at 6.4 percent YoY.
L&T Construction bagged an order from the irrigation and command area development department of the Telangana government.
Gujarat Gas reported consolidated net profit at Rs 250.5 crore versus Rs 197.3 crore and revenue was up 6.4% at Rs 2,666.6 crore versus Rs 2,506 crore, reported CNBC-TV18.
Alkem Laboratories reported 12.79% YoY rise in net profits for the quarter ended March 2020 at Rs188.77 crore. Revenues grew 10.34% to Rs2,076.46 crore.
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