Key barometers were trading with decent gains in afternoon trade amid significant volatility. Gains in IT shares eclipsed weakness in FMCG and pharma shares. At 13:20 IST, the barometer index, the S&P BSE Sensex jumped 229.13 points or 0.66% at 35,071.23. The Nifty 50 index gained 71.90 points or 0.70% at 10,360.80.
In the broader market, the S&P BSE Mid-Cap index added 0.44%. The S&P BSE Small-Cap index rose 0.42%.
Buyers outnumbered sellers. On the BSE, shares 1,617 rose and 944 shares fell. A total of 150 shares were unchanged. In Nifty 50 index, 29 stocks advanced while 21 stocks declined.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,050.61 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 255.59 crore in the Indian equity market on 25 June, provisional data showed.
Total COVID-19 confirmed cases worldwide stood at 96,11,062 far with 4,89,343 deaths. India reported 1,89,463 active cases of COVID-19 infection and 15,301 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
The board of the Securities and Exchange Board of India (Sebi) on Thursday eased pricing framework for preferential allotment of shares, making it easier for listed companies to raise money. It has decided to allow companies to consider two-week average price for pricing preferential share issue. In addition, the regulator has also streamlined settlement regulations to make procedures faster and more effective. Besides, it has decided to amend insider trading norms. It also tweaked its takeover regulations to ensure that shareholders receive interest if open offers are delayed.
Gainers & Losers:
Infosys (up 6.64%), BPCL (up 5.29%), IOCL (up 5%), TCS (up 4.31%) and Wipro (up 3.62%) were top gainers in Nifty 50 index.
Kotak Mahindra Bank (down 3.15%), Bharti Infratel (down 2.14%), ITC (down 1.95%), Sun Pharmaceutical Industries (down 1.74%) and Bajaj Finance (down 1.29%) were top losers in Nifty 50 index.
Q4 Results Today:
ITC (down 1.88%), Coal India (up 0.99%), Glenmark Pharmaceuticals (up 2.04%), NALCO (down 1.61%), Sun TV Network (up 2.48%), APL Apollo Tubes (down 1.16%), Century Plyboards (I) (up 2.17%), EIH (up 0.30%), Emami (up 2.03%), Gujarat Narmada Valley Fertilizers & Chemicals (up 0.86%), Housing and Urban Development Corporation (up 0.18%), IFCI (up 3.15%), ITI (up 1.31%), Kajaria Ceramics (up 0.62%), Oil India (up 4%), Sheela Foam (down 0.68%), South Indian Bank (up 1.62%), TVS Srichakra (up 2.17%), UCO Bank (up 3.94%), Apex Frozen Foods (up 0.92%), Hester Biosciences (down 3.24%), Indian Railway Catering and Tourism Corporation (down 2.71%), ISGEC Heavy Engineering (up 1.45%), Rupa & Company (up 4.03%) and West Coast Paper Mills (up 1.84%) are some of the companies that will announce their quarterly earnings today.
Ashok Leyland fell 0.75%. The auto firm reported 97.46% decline in consolidated net profit to Rs 18.07 crore on 48.23% slide in total income to Rs 5,128.20 crore in Q4 March 2020 over Q4 March 2019.
Apollo Hospitals Enterprise declined 2.28%. The healthcare company's consolidated net profit surged 169% to Rs 219.36 crore on 17% increase in net sales to Rs 2,922.43 crore in Q4 March 2020 over Q4 March 2019. The company recorded sale of Apollo Munich Health Insurance Company to HDFC as an exceptional gain of Rs 198.30 crore in Q4 FY20 which aided net profit. Consolidated EBITDA (post Ind AS116) grew 36% to Rs 380.10 crore in Q4 FY20 from Rs 279.60 crore in Q4 FY19.
Container Corporation of India (CONCOR) gained 1.18%. The company's consolidated net profit slipped 9.4% to Rs 313.47 crore on 14.3% decline in net sales to Rs 1,584.31 crore in Q4 March 2020 over Q4 March 2019. Consolidated profit before tax (PBT) dropped 14% to Rs 410.88 crore in Q4 March 2020 as against Rs 477.94 crore in Q4 March 2019. Current tax expense skid 25.31% to Rs 67.60 crore in Q4 March 2020 as against Rs 90.51 crore in Q4 March 2019. The board has proposed final dividend of Rs 2.85 per equity share.
JB Chemicals & Pharmaceuticals dropped 3.06% after consolidated net profit rose 7% to Rs 50.07 crore on 5.9% rise in net sales to Rs 443.57 crore in Q4 March 2020 over Q4 March 2019. Consolidated profit before tax (PBT) slipped 1.8% to Rs 67.02 crore in Q4 March 2020 as against Rs 68.28 crore in Q4 March 2019. Current tax expenses skid 21.1% to Rs 16.95 crore in Q4 March 2020 as against Rs 21.49 crore in Q4 March 2019. Consolidated EBITDA jumped 40% to Rs 91.70 crore in Q4 FY20 as against Rs 65.50 crore in Q4 FY19. Consolidated EBITDA margin improved to 20.67% in Q4 FY20 from 15.64% in Q4 FY19. The board has recommended a final dividend of Re 1 per equity share for FY20.
Galaxy Surfactants surged 4.31% after the company reported 9.98% rise in consolidated net profit to Rs 62.80 crore on 4.2% fall in total income to Rs 656.66 crore in Q4 March 2020 over Q4 March 2019. Consolidated profit before tax for Q4 March 2020 stood at Rs 81.58 crore, rising 4.6% from the year ago period. Total tax expenses stood at Rs 18.78 crore in Q4 March 2020 as against Rs 20.9 crore in Q4 March 2019.
Endurance Technologies rose 1.51%. The consolidated net profit dropped 28.1% to Rs 106.83 crore on 16% fall in net sales to Rs 1,596.75 crore in Q4 March 2020 over Q4 March 2019. Consolidated profit before tax (PBT) fell 39.6% to Rs 129.76 crore in Q4 March 2020 as against Rs 214.86 crore in Q4 March 2019. Current tax expenses slumped 56% to Rs 27.42 crore in Q4 March 2020 as against Rs 62.25 crore in Q4 March 2019. Consolidated EBITDA dropped 22.7% to Rs 255.30 crore in Q4 FY20 as against Rs 330.20 crore in Q4 FY19. Consolidated EBITDA margin improved to 15.8% in Q4 FY20 from 17.3% in Q4 FY19. Aftermarket sales from Indian operations grew by 10% to Rs 297.70 crore in FY20 compared with Rs 270.70 crore in FY19.
The US Dow index futures were down 199 points, indicating a weak opening in the US stock market today.
European stock opened higher while Asian markets continued to yield gains on Friday despite rising new coronavirus infections. US equity indices closed higher in choppy trading on Thursday, with bank stocks soaring ahead of annual stress test results and helping to offset investor jitters over alarming increases in new coronavirus cases.
Apple Inc said it would close 14 stores in Florida again due to rising COVID-19 cases after other re-closures in Houston, Arizona, South Carolina, and North Carolina. Texas Governor Greg Abbott said he was halting his state's phased economic reopening in response to a jump in COVID-19 infections and hospitalizations.
The US Fed on Thursday said it will cap big bank dividend payments and halt share repurchases until at least the fourth quarter. It found lenders faced significant capital losses when tested against an economic downturn caused by the coronavirus pandemic.
The US economy shrank at a 5% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic. The Commerce Department reported on Thursday that the decline in the gross domestic product, the total output of goods and services, in the January-March quarter was unchanged from the estimate made a month ago.