News and Updates

STOCK MARKET UPDATES: 11/08/2020

• S & P BSE Sensex went up by 0.6 per cent,or 225 points high at 38,407.01 levels. NSE’s Nifty rose up for the fifth consecutive day settling at 11,322.50, by 52 points or 0.46 per cent.
• Top gainer on Sensex was Axis bank, going up by 4 per cent, while the top loser was Titan Company, having declined by nearly 4 percent.
• Rupee went up by 12 paise, at a provisional 74.78 against the US dollar, with the intra day high of 74.77 and low of 74.86.
• Central bank of India reported 21% rise in share and the net profit at Rs. 147,21 cr. in Q1 of FY 2021.
• Mahindra Manulife mutual fund has launched Mahindra Manulife Arbitrage Yojana for investment purpose. This company is wholly owned and is a subsidiary of Mahindra and Mahindra Financial services and in this investment the opportunities are available for equity, derivatives and debt market.
• After raising Rs. 10,000 crores via Qualified Institutions Placement (QIP) issue on August 10, Axis Bank’s shares rose by 2 per cent, with the issue price at a discount of 5 percent (Rs. 22.09 per equity share) to the floor pricing @ Rs.442.19 per equity share for an aggregate value of Rs.10,000 crore.
• Titan company shares went down by 4 per cent after announcement of a net loss of Rs.270 crore for the June Quarter due to COVID-19 pandemic, in comparison to a profit of Rs 371 crore in the previous year.
• Shree Cements shares went down over 4 percent, after a report of 13.5% fall in consolidated net profit @ Rs 330.35 crore during June quarter in comparison to a profit of Rs 382 crore in the previous year.
• Motherson Sumi Systems announced a consolidated net loss of Rs.1,191.65 crore, under affect of COVID-19 pandemic.
• GPX Global Systems’ India operations acquired by Equinix for $161 million (around Rs 1,202 crore) in an all cash deal.
• Eicher motors decide that 1 share is to be split in 10. 10 equity shares at value of Rs.10 each divided into 10 equity shares of face value of Rs.1, with the reason behind this aid being liquidity and large shareholder base.
•  Gold prices fell by 5% to Rs.52,390 per 10 grams in their second fall in three days on MCX with also a plunge in global markets.
• Silver prices fell as much as 3.79% , being its highest decline since mid-March at Rs72,535.
• PTC India announced an over 7% rise in consolidated net profit at Rs. 100.06 crore for the June Quarter, compared to the net profit of Rs 93.26 crore from previous year.
• Shriram City Union Finance Ltd reported on Tuesday net profit in Q1 at Rs. 192.27 crore.
• Ashoka Buildcon on Tuesday reported a 6.7% increase in first quarter of Rs. 69 crore.
• Inox Benefit Trust sold off shares worth Rs 101 crore of Inox Leisure Ltd. through open market transactions, at Rs 233 a piece, translating into a deal size of Rs. 101.36 crore.
• 77,000 shares of Samco Industries bought by Sachin Modi at Rs. 11.10.
• 22,99,696 shares of La Opala RG were sold by Westbridge at Rs 185 while 23,65,156 shares were bought by Plutus Wealth at Rs 185.98 per share.
• 2,00,000 shares of Spenser’s Retail sold at Rs 21.66 per share by BNK Capital Markets.