Nifty Sensex may try to recover – Weekly closing report
Moneylife Digital Team
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We had mentioned in last week’s closing report that Nifty, Sensex may be under pressure. The major indices corrected heavily this week and ended with major losses over previous week’s closing price. The trend of the major indices in the week is given in the table:
On Monday, the major indices opened higher but declined and ended with losses. On the NSE, there were 519 advances, 1,404 declines and 321 unchanged.
Reliance Industries reported consolidated net profit of Rs 14,982 crore for the Oct-Dec 2020 quarter (Q3FY21) remaining nearly the same year-on-year against Rs 14,962 crore earned in the previous year. Revenues declined 23% YoY to Rs 1.18 lakh crore compared to Rs 1.53 lakh crore YoY.
Nifty, Sensex continues to be under pressure – Wednesday closing report
Moneylife Digital Team
0
We had mentioned in Monday’s closing report that Nifty, Sensex are under pressure. On Wednesday, the major indices continued to correct and ended with major losses. On the NSE, there were 637 advances, 1,233 declines and 341 unchanged.
The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Hindustan Unilever reported financial results for the Oct-Dec 2020 quarter (Q3FY21). Net profits grew 19% YoY to Rs 1,921 crore vs Rs 1,616 crore in the corresponding quarter in the previous year. Consolidated revenue grew by 21% YoY to Rs 11,872 crore.
Birla Corporation, Infosys, Sun Pharma, HPCL and ONGC are among 10 companies that are likely to witness superior earnings growth and outperform the benchmark indices, says HDFC Securities Retail Research.
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Jain Housing to prune debt
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Construction sector may bounce back soon, says joint MD
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Kolkata, India - May 15, 2016: Construction workers and Engineers working for the construction of a high rise building in Kolkata with the famous Howrah Bridge in the background
Construction sector may bounce back soon, says joint MD
Chennai-based Jain Housing and Constructions Ltd. will reduce its debt to the minimum in the next two years and enter tier-II cities, said its joint managing director Sreyansh Mehta.
“Currently, at the group level, we have a debt of ₹470 crore to ₹500 crore and we would like to reduce it to as much as possible in the next two years,” he said in an interview. Towards this, the company had raised ₹175 crore from two international financial institutions viz. Nippon Life India Asset Management Ltd. of Japan and Apollo Global Management of the U.S.