Weekly Moneylife Indices & Sector Trends
INDIAN MARKET TRENDS
For the period from 8 November 2019 to 14 November 2019, the Sensex, ML Mega-cap Index and the NIFTY ended flat. ML Large-cap Index fell 1%. ML Micro-cap Index, ML Mid-cap Index and ML Small-cap Index fell 2% each.
 
 
FUND FLOWS
Foreigners: Foreign institutional investors were net buyers of equities during the period (Rs687.07 crore). They...
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  • GNA Axles: Holding Firm
    The automobile sector, which is cyclical in nature, is currently facing a severe slowdown in India. This, in turn, affects the fortunes of the intermediaries in the supply chain, such as auto-ancillary companies. It is not clear when the domestic market will pick up. However, even though the auto-ancillary companies are doing badly, GNA Axles Limited (GNA) has turned out excellent...
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  • Nifty, Sensex Moving Sideways to Down – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex may give up some gains. The major indices suffered a minor correction during the week but recovered and closed flat. The trends of the major indices in the course of the week’s trading was:
     
     
    On Monday, the major indices were negative for most of the day and ended flat. On the NSE, there were 902 advances, 890 declines and 367 unchanged. Indian Bank fixed issue price for preferential issue of shares to Government of India at Rs216.09. Accordingly the number of shares to be issued and allotted to Government of India on preferential basis shall be 11,72,65,954.
     
    Balrampur Chini Mills reported decrease in revenues by 16% y-o-y for the quarter ended September 2019 to Rs863 crore. Net profits increased 7.87% y-o-y to Rs100 crore. The board has declared an interim dividend of Rs2.50 per equity share of Re1 each for the financial year 2019-20.
     
    NESCO reported increase in revenues by 28% y-o-y for the quarter ended September 2019 to Rs135 crore. Net profits increased 50% y-o-y to Rs74 crore. Alkem Laboratories reported increase in revenues by 18% y-o-y for the quarter ended September 2019 to Rs2,295 crore. Net profits increased 46% y-o-y to Rs371 crore.
    The equity markets were closed on Tuesday on account of Gurpurab.
     
    On Wednesday, the major indices suffered losses. On the NSE, there were 691 advances, 1,092 declines and 362 unchanged. Airtel and Vodafone Idea discussed with their legal teams on filing petitions for reviewing the Supreme Court's recent order on adjusted gross revenue (AGR) after the Department of Telecom (DOT) told them to approach the court in this regard. The deadline for paying the AGR amount of Rs83,000 crore is January 24, which includes Rs43,000 crore for Airtel and Rs40,000 crore for Vodafone Idea.
     
    Rail Vikas Nigam reported an increase in revenues by 106% y-o-y for the quarter ended September 2019 to Rs3,827 crore. Net profits increased 157% y-o-y to Rs220 crore.
     
    Insecticides India reported increase in revenues by 10% y-o-y for the quarter ended September 2019 to Rs505 crore. Net profits increased 14% y-o-y to Rs49 crore. Kaveri Seed Company reported increase in revenues by 14% y-o-y for the quarter ended September 2019 to Rs120 crore. Net profits decreased 12% y-o-y to Rs13.63 crore.
     
    The board of Vinati Organics has approved the subdivision of equity shares from one share of face value of Rs2 to two shares of face value of Re1 each, subsequent to the approval of the shareholders through postal ballot.
    On Thursday, the major indices opened high and ended with minor gains. On the NSE, there were 726 advances, 1,058 declines and 358 unchanged. Vodafone Idea lost over 20% during early trade on reports that the Department of Telecommunications (DoT) asked the telecom firms to pay their revenue share dues within three months. DoT on Wednesday sent notices to the telcos, asking them to pay the adjusted gross revenue dues on a self-assessment basis within the next three months.
     
    Coffee Day Enterprise reported Rs1,509 crore net profit for the first quarter (Q1) of fiscal 2019-20, on the back of Rs1,659 crore-gain from the sale of equity stake held in its former software major Mindtree. Mumbai-based Larson and Toubro had acquired 60.06% controlling equity stake in Mindtree during the quarter under review.
     
    SpiceJet recorded a 52% rise in second quarter operational revenue to Rs2,845.3 crore as it added more destinations and expanded its fleet of passenger and freighter aircraft. The company posted a loss of Rs462.6 crore as against Rs389.4 crore for the same quarter last year.
     
    On Friday, the major indices opened high and ended with minor gains. On the NSE, there were 834 advances, 985 declines and 323 unchanged. The big win for lenders of bankrupt Essar Steel following the Supreme Court order on Friday has opened the doors for state-run banks like SBI, PNB, and IDBI Bank as well private banks like ICICI Bank and Edelwiess Asset Reconstruction Company to receive their recoveries from big cases under insolvency resolution. 
     
    Info Edge (India) has refuted a media report that claimed the company may be considering selling its stake in food delivery platform Zomato by April-May next year. In a letter addressed to the BSE Ltd and the National Stock Exchange of India Ltd (NSEI) accessed by IANS, the company said that in the analysts' conference call after declaring financial results for the quarter and half-year that ended September 30, Executive Vice President Sanjeev Bhikchandani never mentioned about selling Zomato state as reported by techcircle.in.
     
    Vodafone Idea on Friday hit the lower circuit, after falling over 10% on the BSE after it reported a net loss of Rs50,922 crore for the September quarter, the highest ever net loss by a company in India's corporate history.
     
    Bharti Airtel fell over 2% after it logged its worst quarter ever, in terms of net loss in a quarter. Both Vodafone Idea and Airtel took a hit on its balance sheet and the bourses after the Supreme Court ruling on the adjusted gross revenue (ADR). The court had upheld the government's broader definition of revenue, on which it calculates levies on telecom operators, resulting in dues of over Rs92,000 crore on the telecom industry.
     
    The US FDA inspected Aurobindo Pharma’s Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019. At the end of the inspection, it was issued a 'Form 483' with 14 observations. The company believes that none of these observations are related to data integrity issues.
     
    Vedanta Limited participated in and emerged as the highest bidder for the Jamkhani coal block in Sundargarh district, Odisha, in the 10th tranche of the captive coal block auction conducted by Ministry of Coal, Government of India. The coal block is in proximity to the company's Jharsuguda aluminium smelter. 
     
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