News and Updates

Stock Market Updates :24/08/2020

• Nifty gained 94.85 points, ending 0.83% higher at 11,466.45 while Sensex gained 364.36 points, ending 0.95% at 38,799.08.
• 90,00,000 shares of ICICI bank worth Rs. 341 crore were sold by Societe Generale , that were bought by Merill Lynch Markets Singapore at Rs 378.60 per share, through an open market transaction.
• ONGC announced a board meeting on September 1 for consideration of fundraising upto Rs 45,000 crore, probably through availing of Bank loans, bonds, NCDs, as also for approval of the company’s financial results for Q1, June 2020.
• Supreme Court overturns the verdict of National Consumer Disputes Redressal Commission, (NCDRC) that had dismissed the complaint of 339 flat buyers stating their denial to entitlement for compensation in excess stipulated for possession, dated July 2,2019. Now S.C held that the flat buyers are entitled for compensation over delay in handing over of possession rights.
• Gold prices remains stable at Rs. 52,009/10 gm plus GST for 24 carats on MCX.
• Silver prices declined by 0.88% to Rs. 66,478 per kg, with an intraday high of Rs 67,345 and low of Rs.65,759 per kg on MCX.
• Copper prices went up by Rs. 3.35 or 0.65% to Rs. 522.15 per kg on MCX,with a business turnover of 3,106 lots.
• Crude oil prices increased to Rs.3,174 per barrel on the futures market with an intraday high of Rs 3,198 per barrel and low of Rs 3,158 per barrel on MCX.
• Zinc prices increase by Rs. 1.20 to Rs. 194.75 per kg with a business turnover of 2095 lots on MCX.
• Nickel prices increase by Rs.7.30 or 0.66% to Rs.1,111.70 per kg on MCX with business turnover of 1,755 lots.
• Rupee rose by 52 paise, settling at a provisional 74.32 against the US Dollar, with an intraday high of 74.31 and low of 74.91.
• Eicher Motors shares went down with marginal gains of 0.23% @Rs 2,176.85 with effect of the 1:10 stock split.
• Steel Strips Wheels shares increased by 3% after gaining of the company’s export orders for over 3,200 wheels for EU Truck and US Mobile Home Market.
• Shares of Minda Industries went down by 4% after posting of the company’s weak numbers for Q1, June 2020.
• Share price of Zen Technologies went up by 6% after the company received granting of a patent by the UK Patent office for Containerised Tubular Shooting Range, (CTSR).
• Union Bank of India shares went up by almost 5% after their August 21 announcement of a profit of Rs332.74 crore for Q1, June 2020 after the merger with Corporation Bank and Andhra Bank.
• Punjab National Bank (PNB) shares increased by 3% after its August 21 announcement of a standalone profit of Rs 308.45 in earnings of Q1, June 2020.
• IRB Infrastructure Developers Ltd. (IRB) announced a consolidated net loss of Rs.30.13 crore for Q1 June 2020, along with a decline of total income to Rs 1,073 crore against last year’s Rs 1,821,12 crore, due to Covid-19 pandemic.
• LIC Housing Finance Ltd. (LICHFL) announced a 34% increase in its net profit to Rs.817.48 crore for Q1 June 2020 , by aid of lower provisioning.
• 1,79,826 shares of Panasonic Energy India Co sold by Acacia Partners at Rs 174.27 per share.