Scan to Download
Indian equity markets failed to sustain gains to begin the new trading week on a sombre note. European markets turned negative after opening with gains as did futures on the Dow Jones which now trade lower by 100 points.
The S&P BSE Sensex fell 800 points from the day's high of 32,301 to end at 31,561, down 0.2 percent. The NSE Nifty 50 index too fell over 220 points from its peak of 9,439 to end little changed at 9,239. 30 out of the 50 index constituents ended the day with gains.
Among sectoral indices, the Nifty Bank was the underperformer, ending 2 percent lower. The index also fell over 800 points from the day's high of 19,733.
Nifty Auto was the top performing sector, ending with gains of 4 percent. Nifty I.T., Media and Metal indices were the other gainers.
888 stocks on the NSE ended with gains while 915 ended with losses.
The company has informed the exchanges that the Department of Investment and Public Asset Management (DIPAM) of the Ministry of Finance has appointed Yes Securities, Elara Capital and IDBI Capital as merchant bankers and selling brokers for divesting its stake.
The government intends to divest 15 percent of its 87.75 percent shareholding in the company through the Offer for Sale (OFS) route. It has also appointed L&L Partners as legal advisers for the same.
Shares recovered from the day's low to gain as much as 6.6 percent to Rs 232.75 on the National Stock Exchange.
The tourism company reported a net loss of Rs 164.57 crore this quarter as compared to a net profit of Rs 46.15 crore last year. The net loss was due to a one-time impact of a change in tax rate which amounted to Rs 199.72 crore.
Operational parameters of the company were steady with Ebitda rising 38 percent year-on-year while margins expanded to 16.9 percent from 11.9 percent last year.
Shares gained as much as 11.85 percent to Rs 140.65. This was the biggest single-day surge for the stock since August 2016.
The pharma company returned to profitability in the fourth quarter, reporting a net profit of Rs 48 crore as compared to a net loss of Rs 15 crore in the corresponding quarter last year.
The company's Ebitda remained largely flat at Rs 37 crore as against Rs 34 crore in the fourth quarter last year. Ebitda margin expanded to 4.6 percent from 3.5 percent.
The company's R&D as a percentage of sales fell to 5.4 percent from 7 percent last year.
The company's India business saw a de-growth compared to last year, owing to lower sales in the Quality Generics division, the company said in an exchange filing.
The board has also approved raising funds up to Rs 1,500 crore via equity shares, equity linked securities, QIP or any other combination thereof.
Shares gained as much as 5.2 percent to Rs 266.6, post the announcement.
Lets take a look at how benchmark indices have opened across Europe:
The company's Strategic Engineering Division signed a contract with the Ministry of Defence for modernisation of 37 airfields of the Indian Airforce, Navy and the Coast Guard.
The contract, with an estimated value of Rs 1,200 crore will have to be executed over the next 4 years, as per the company's exchange filing.
The contract involves supply, installation and commissioning of modern airfield equipment along with other navigation aids and Air Traffic Management Systems.
Shares are fluctuating between gains and losses, currently trading 0.4 percent lower at Rs 28.40.
The company reported a 36 percent decline in its net profit compared to the previous year in the fourth quarter. The real estate player's net profit for the period stood at Rs 101 crore.
The impact on profitability was also due to a 17 percent year-on-year drop in other income, which fell to Rs 125 crore.
Revenue for the company rose 10 percent compared to last year to Rs 1,160 crore.
The company had shared its operational update in April where it reported a 10 percent rise in total bookings while selling over 3,000 homes.
The board has also approved raising funds up to Rs 1,000 crore by issue of Non-Convertible Debentures (NCDs). A committee of Directors will take a call on the quantum, timing and terms and condition of the same.
The company will hold its Annual General Meeting (AGM) on August 5, 2020.
Shares fluctuated after the earning announcement, cooling off from the day's high to fall as much as 0.9 percent before recovering again. They currently trade 2 percent higher at Rs 629.75.
In Charts: Record-Breaking Lows The Indian Economy Saw In April
The asset management company saw its revenue declining 2 percent in the current quarter compared to last year, while net profit saw a 10 percent drop.
The company's operating profit from the core asset management business fell 1 percent. It has incurred a fair value loss on its Essel group exposure of Rs 71.3 crore.
The board of the company has recommended a dividend of Rs 28 per share for FY20.
Shares fell as much as 4.5 percent to Rs 2,501 and are down for the second straight day.
Shares of the Bengaluru-based real estate company are locked in an upper circuit of 5 percent at Rs 186.35 per share.
Anamudi Real Estates acquired 5.55 lakh shares of the company on Friday, amounting to a 0.59 percent stake at Rs 178.87 per share. Anamudi Real Estates is the promoter entity of the Godrej Group.
This is only the third instance in the last 10 trading sessions where the stock has gained. Today's volumes are 1.8 times higher than its 30-day average and it is also the top performer on the Nifty Realty index.
The company informed the exchanges over the weekend that its joint venture between its wholly-owned subsidiary Minda KSTN Plastic Solutions and Shandong Beiqi Hai Hua Automobile Parts to produce and sell automotive components and parts was called off.
The Joint Venture - named Minda China Plastic Solutions Company had not started any business or generated any revenue since the beginning, the exchange filing stated.
Shares snapped a six-day losing streak, gaining as much as 6.6 percent to Rs 61.65 on the National Stock Exchange.
Carlyle Group Set To Buy SeQuent Scientific
Nifty Bank: May 14 Expiry
The two-wheeler maker has informed the exchanges that it has reopened more than 1,500 touchpoints across the country, including authorised dealerships and service centres.
The concerned outlets contribute more than 30 percent of the company's total domestic retail sales.
The exchange filing further stated that the company has sold 10,000 units of motorcycles and scooters since the reopening of these touchpoints.
Shares gained as much as 4.25 percent to Rs 2,046 and are among the top performers on the Nifty 50 index.
What The Government’s Increased Borrowing Tells Us About Its Finances
The company has signed definitive agreements for a 250 MW turnkey contract with Continuum Power Trading.
As per the agreement, Inox Wind will supply, erect and commission a mix of 2 MW and 3 MW turbines. It has already begun execution of the first phase of the project, comprising of 126 MW and is scheduled for commissioning in Q3FY21.
Shares gained as much as 5.2 percent to Rs 25.30 post the announcement.
Shares of the e-ticketing company are locked in an upper circuit of 5 percent after the Ministry of Railways announced that it plans to gradually restart passenger train services from May 12.
Bookings for the same will only be available on the IRCTC website and no ticket booking counters will be open, the ministry added.
Only asymptomatic passengers will be allowed to board the train and it will be mandatory for them to wear masks, according to the railways.
Shares currently trade at Rs 1,303.55 and are up for the second straight day.
The Mumbai-based private lender reported a 26 percent rise in its net profit compared to the previous year in the fourth quarter.
The bank set aside Rs 5,967 crore in provisions in this quarter, nearly tripling from Rs 2,083 crore in the previous quarter.
The bank informed that slippages were higher this quarter led by the overseas book. A healthcare company in West Asia and a shipping company in Singapore were the downgrades.
The management also added that there can be no guidance on asset quality in these uncertain times. Over 30 percent of the bank's loan book has availed the moratorium for repayment on loans.
Shares fluctuated after falling as much as 2.1 percent to Rs 330.80 in early trade.
Bloomberg News reported on Friday that Saudi Arabia's sovereign wealth fund is exploring a potential investment in Jio Platforms, citing people with knowledge of the matter.
The last fortnight has seen Facebook, Silver Lake partners and Vista Equity Partners investing in Jio platforms for a minority stake.
Another news report suggested that General Atlantic too is in talks to invest in Jio platforms. The company has set May 14 as the record date for its rights issue.
Shares gained as much as 3.1 percent to Rs 1,609 and are the top point contributors to the Nifty upside. The stock is up for the fifth straight day, its longest winning streak in three months.
Indian equity markets began the new trading week on a positive note after declining over 6 percent last week. Asian markets are holding on to gains while futures on the Dow Jones are up over 150 points.
The S&P BSE Sensex opened 1.2 percent higher at 32,030 while the NSE Nifty 50 opened 1 percent higher at 9,348. 45 Nifty constituents opened with gains.
Both benchmarks consolidated for most of last week after falling over 6 percent on May 4.
Among sectoral indices, the Nifty Realty index was the top gainer; opening 2.1 percent higher while Nifty Bank, Nifty Auto and Nifty Metal opened with gains of over 1 percent.
1,108 stocks opened with gains while 298 were declining at the start of trade.
Coronavirus India Updates: Total Covid-19 Cases Top 67,000; More Than 2,200 Dead
For all that you need to know going into today’s trade, click here.
For all the action in the global markets, click here.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
