News and Updates

Stock Market Synopsis : 05/08/2020

• Former RBI governor Raghuram Rajan suggests not to extend the moratorium period: If the moratorium period gets extended that would affect the economy. On weighing, more loan extension will lead to catastrophic ailments for the economy. Rajan also said once people are told to not pay, it becomes hard to get them back into the payment, same like the NPA holders. 

• SEBI chairman Ajay Tyagi’s term extended by 18 months. 

• Rupee stands higher at 74.93 per dollar against the previous day’s closing rate at 75.04 per dollar 

• TATA group filed the reply in Supreme Court against the Cyrus Mistry case and Ratan Tata refused the Mistry Group claim of oppression in the affidavit. 

• Market eyes on the monetary policy outcome (MCP) which is scheduled for August 6,2020 

• Sun Pharma share jumps 8% after the declaration of the Q1 results and the net profit of Q1 @ 56.69 crore. 

• Axis bank share jumps 1.39% after they launched the qualified institutional placement (QIP) worth around 10,000 crores. 

• Gujarat Gas share falls over 1 % in early sale in august and revenue was down around 58.6%. 

• SAIL share prices rise 50% in July sales: in this period, they sold around 15.83 lakh tonnes in July 2020. 

• Tata Consumer Products share price jumped 4% at open on August 2020; overall net profit 81% in share. 

• Bandhan bank share jumps around 2% within one day after foreign institutional investors investing money in the bank share. 

• Byju’s acquires WhiteHat Jr in 300-million-dollar deal. WhiteHat is basically an Education Tech Co. dealing in the online coding classes. 

• Apollo Tyre net loss around @135 crores in Q1 due to COVID-19 consequences. However, a profit of 142 crores was recorded in April-June’2020. 

• INOX LEISURE LTD. faces a loss of 73.64 crores in June quarter due to restrictions for COVID-19. 

• J.K. Lakshmi Cement records Q1 net loss of 5.8% to Rs. 50.63 crores, as compared to the amount in the previous year April-June @53.75 crores. 

• Adani Gas drops at net loss of 42% in Q1 as compared to last year. Income in 2020 so far stands at 46 crores in comparison to the previous year’s value at 79 crores. 

• Cadila health shares rise up at around 4.11% in comparison to last year’s sale in June Quarter. 

• Godrej Properties decline in around 91.43% in comparison to previous year. 

• Canara Bank Q1 results record profit rise at 23% amounting to Rs 406 cr. 

• Sensex closes lower by 25 points at 37,663 while Nifty gains 6 points to 11,102.