News and Updates

STOCK MARKET UPDATES: 07/08/2020

• Sensex went up by 15.12 points(0.04%) at 38040.57 and the NIFTY added 13.80 points(0.12%), standing at 11214.
• 6,88,800 shares of Century Textiles bought by Morgan Stanley Singapore PTE at Rs.317.45 per share.
• 1,23,842 Spencer’s Retail RE sold by Habrok India Master LP at Rs 23.53 each.
• Mittal Life Style and 21^st Century Management Services fell to their 52-week lows on NSE session, Friday.
• Gold prices hit another new high at Rs. 56,126 per 10 gram in the Mumbai bullion market, continuing to rise for the eighth day at a stretch.
• Adani Transmission’s net profit for Q1FY21jumped high to 66.5% Y-O-Y to Rs.355.4 crore as compared to their net profit in Q1FY20 of Rs. 213.4 crore. Release of the Q1 numbers led to surge of shares of the company over 9%, although revenue declined 14.4% from last year.
• Due to rising COVID-19 cases and US-China trade tensions, rupee fell to a low of 75.04 even after starting off at a warm note, and ended almost flat at 74.93, at one paisa over its previous close.
• Cipla’s consolidated profit was reported at Rs. 566 crores, after a 26.6% Y-O-Y growth in its Q1FY21, due to strong performance in India as well as Europe. Growth in revenue operations was noticed by 9% at Rs. 4,346.2 crore.
• Copper prices fell to Rs.509. 65 per kg, while it touched an intraday high of Rs.514 and low of Rs 508.20 per kg on MCX for August delivery at futures market.
• Zinc prices remained steady at Rs 191.05 per kg, while touching an intraday high of Rs191.90 and low of Rs 189.55 per kg on MCX for August delivery at futures market.
• Due to loss in sales from COVID-19 lockdowns, a consolidated net loss of Rs. 100.88 crore for Q1 in June was reported by Bata India Ltd, in contrast to the net profit of Rs 100.97 crore a year ago in the April-June Quarter, as reported by the company.
• BalrampurChini reported a 32 percent rise in consolidated net profit at Rs. 139.09 crore for Q1 at June 2020, in comparison to the net profit of Rs 105.61crore, a year ago.
• According to RBI data, the country’s foreign exchange hit an all-time-high of USD 534.568 billion, after surging by massive USD 11.938 billion in the week of July 31.
• In spite of hitting a record high of Rs. 77,949 per kg during the day, silver prices remained comparatively steady at Rs. 76, 217 per kg as participants increased their long positions.
• With increase in short positions of participants, crude oil futures fell to Rs. 3,120 per barrel, after the touch of $46 per barrel amid mixed cues.
• 1,95,555 Gateway Distriparks RE sold at Rs.12.55 each by General Insurance Corp of India (GIC).
• 27,41,040 shares of Bandhan Bank from Goldman Sachs (Singapore) PTE ODI bought by BNP Paribas Arbitrage at Rs. 300 per share.
• Capital Income Builder and Nomura Investment lapped up 51,81,400 shares and 62,63,200 shares of Mindspace Business Parks REIT at Rs 303.44 and Rs 302.45 per piece.
• Mahindra and Mahindra cancel a bid on US postal service trucks, reason behind it being claimed that the investment did not meet the target equity of 18%.
• Ten small scale banks are offering up to 7 percent interest rate on one year of FD. Besides this, private-sector banks plus government’s own banks are offering up to  3 percent interest rate on one year of FD.