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Indices end almost flat; L&T jumps over 4%
(17:07, 13 Aug 2020)

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The-domestic-equity-benchmarks-ended-with-small-losses-on-Thursday.-Trading-was-volatile-due-to-weekly-expiry-of-index-options.-The-S&P-BSE-Sensex,-fell-59.14-points-or-0.15%-at-38,310.49.-The-Nifty-50-index-lost-7.95-points-or-0.07%-at-11,300.45.

After-opening-in-the-green,-the-equity-barometers-hit-day's-high-in-mid-morning-trade.-As-profit-taking-emerged-at-higher-levels,-the-key-indices-hit-the-day's-low-in-early-afternoon-trade.-However,-the-benchmarks-indices-staged-a-decent-recovery-and-managed-to-end-the-day-with-minimal-losses.-

The-broader-market-outperformed-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-gained-1.59%-while-the-S&P-BSE-Small-Cap-index-rose-0.76%.-

The-market-breadth-was-positive.-On-the-BSE,-1576-shares-rose-and-1156-shares-fell.-A-total-of-142-shares-were-unchanged.-

COVID-19-update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-20,634,064-with-749,424-deaths.-India-reported-6,53,622-active-cases-of-COVID-19-infection-and-47,033-deaths-while-16,95,982-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Numbers-to-Watch:

The-yield-on-10-year-benchmark-federal-paper-rose-to-5.896%-as-compared-with-5.884%-at-close-in-the-previous-trading-session.

In-the-foreign-exchange-market,-the-rupee-edged-lower-against-the-dollar.-The-partially-convertible-rupee-was-hovering-at-74.8475,-compared-with-its-close-of-74.83-during-the-previous-trading-session.

In-the-commodities-market,-Brent-crude-for-October-2020-settlement-fell-13-cents-at-$45.30-a-barrel.-The-contract-rose-93-cents,-or-2.09%-to-settle-at-$45.43-a-barrel-in-the-previous-trading-session.

Foreign-Markets:

European-markets-tumbled-while-most-Asian-markets-ended-higher-on-Thursday.-Investors-awaited-the-latest-US-jobless-claims-data-and-tracked-the-lack-of-progress-in-negotiations-over-a-US-pandemic-relief-package.

The-media-reported-that-China's-banking-industry-is-expected-to-dispose-3.4-trillion-yuan-($489.91-billion)-of-bad-loans-in-2020-to-contain-financial-risks-in-an-economy.

The-US-stock-market-finished-higher-on-Wednesday,-12-August-2020,-as-investors-chased-for-riskier-assets-amid-stronger-than-expected-economic-data-and-some-signs-of-a-slowdown-in-the-spread-of-the-coronavirus-pandemic-cases-in-the-US-and-optimism-over-efforts-to-produce-a-vaccine.

Meanwhile,-US-Treasury-Secretary-Steven-Mnuchin-said-the-White-House-and-top-Democrats-in-Congress-may-not-be-able-to-reach-a-deal-on-coronavirus-aid,-marking-a-fifth-day-without-talks,-as-the-stalemate-blocked-relief-to-tens-of-millions-of-Americans.

US-consumer-prices-climbed-by-0.6%-in-July,-according-to-a-report-released-by-the-Labor-Department-on-Wednesday.-The-stronger-than-expected-consumer-price-growth-was-partly-due-to-a-continued-spike-in-energy-prices.-However,-the-jump-in-energy-prices-was-partly-offset-by-a-pullback-in-food-prices.-

Buzzing-Indian-Segment:

The-Nifty-Auto-index-rose-1.22%-to-7,879.75.-The-index-has-added-8.83%-in-eight-sessions.

The-Supreme-Court-in-its-order-today-stated-that-only-those-BS-IV-vehicles-sold-prior-to-lockdown-and-uploaded-on-eVahan-portal-will-be-permitted-for-registration.-BS-IV-vehicles-that-have-not-been-uploaded-to-the-eVahan-Portal-are-not-going-to-be-registered,-nor-will-any-BS-IV-automobile-offered-after-31-March-2020.-

Bharat-Forge-(up-15.65%),-Tata-Motors-(up-4.63%),-TVS-Motor-Company-(up-3.14%)-and-Escorts-(up-0.22%)-advanced.-

Hero-MotoCorp-rose-1.35%-ahead-of-Q1-results-today.-

Ashok-Leyland-jumped-13.16%-after-the-company-posted-a-consolidated-net-loss-of-₹-389-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-275-crore-reported-in-Q1-June-2019.-Consolidated-income-from-operations-for-quarter-ending-June-2020-stood-at-₹-1480-crore,-tumbling-77%-from-₹-6514.73-crore-in-the-same-period-last-year.

The-commercial-vehicle-manufacturer-said-that-a-drop-in-revenue-was-due-to-the-lock-down-on-account-of-the-COVID-19-pandemic.-With-virtually-no-operations-or-revenues-in-the-first-part-of-this-quarter-owing-to-the-lock-down,-the-demand-is-seen-to-be-gradually-opening-up-as-the-lock-down-is-being-eased.-

Eicher-Motors-declined-2.10%-ahead-of-Q1-results-today.-

VE-Commercial-Vehicles-(VECV),-the-truck-and-bus-making-subsidiary-of-Eicher-Motors,-has-signed-an-agreement-to-buy-the-bus-division-of-Volvo-in-India-for-₹-100-crore.-The-agreement-will-cover-the-manufacture,-assembly,-distribution,-and-sale-of-the-Volvo-Buses-in-India,-and-other-rights-forming-part-of-the-business.-Consequently,-the-bus-manufacturing-facility-at-Hosakote,-Bengaluru,-and-all-employees-of-Volvo-Bus-India-(VBI)-will-be-transferred-to-VECV.-Volvo-Bus-India-is-currently-a-division-of-Volvo-Group-India-(VGIPL).

Stocks-in-Spotlight:

Larsen-&-Tourbo-(L&T)-rose-4.31%.-The-construction-arm-of-L&T-has-secured-significant--contracts-from-prestigious-clients-for-its-varied-businesses.-As-per-the-L&T's-classification,-the-valuation-of-the-'significant'-order-stands-between-₹-1,000-crore-and-2,500-crore.-

Interglobe-Aviation-surged-12.26%.-Jwalamukhi-Investment-Holdings,-a-private-investment-arm-of-Westbridge-Capital,-bought-54.34-lakh-shares,-or-1.41%-equity,-of-the-aviation-giant-from-Kotak-Mahindra-(International)-for-₹-1,028-per-share.-The-transaction-took-place-via-bulk-deal-on-Bombay-Stock-Exchange-(BSE)-on-Wednesday,-12-August-2020.-

Grasim-Industries-gained-0.86%.-The-company's-consolidated-net-profit-tumbled-72.8%-to-₹-352-crore-on-a-32.2%-declined-in-revenue-from-operations-to-₹-13,621-crore-in-Q1-FY21-over-Q1-FY20.-Consolidated-EBITDA-fell-41.42%-to-₹-2613-crore-in-Q1-FY21-over-₹-4461-crore-in-Q1-FY20.-The-results-have-been-severely-impacted-due-to-the-unprecedented-disruption-in-economic-activities-on-account-of-COVID-19-induced-lockdown-in-all-the-major-markets-during-the-quarter-and-the-resultant-demand-&-supply-chain-disruptions.-

GAIL-(India)-declined-0.56%-after-the-company-posted-a-57.2%-drop-in-consolidated-net-profit-to-₹-642.97-crore-in-Q1-June-2020-as-compared-to-₹-1503.67-crore-reported-in-Q1-June-2019.-Consolidated-revenue-from-operations-stood-at-₹-12,180.62-in-Q1-June-2020,-falling-34%-from-₹-18481.56-crore-posted-in-Q1-June-2019.

GAIL-said-that-the-COVID-19-impacted-company's-physical-performance-due-to-nationwide-lockdown.-However,-the-company-said-it-expects-to-reach-normal-levels-during-upcoming-period-in-FY-2020-21.

Godrej-Industries-fell-1.77%-after-the-company's-consolidated-net-profit-dropped-40.3%-to-₹-106.17-crore-on-30.4%-decline-in-revenue-from-operations-to-₹-1980-crore-in-Q1-June-2020-over-Q1-June-2019.

Cummins-India-advanced-3.25%.-The-company's-consolidated-net-profit-slumped-65.24%-to-₹-53.02-crore-on-63.11%-decrease-in-revenue-from-operations-to-₹-488.74-crore-in-Q1-June-2020-over-Q1-June-2019.

Cummins-expects-gradual-recovery-of-demand-in-coming-months.-However,-there-remains-significant-uncertainty-around-how-COVID-19-will-impact-market-demand-as-well-as-customer-and-supplier-operations.-Due-to-this-uncertainty-the-company-is-not-providing-a-full-year-revenue-guidance-for-FY-2021.

Tata-Power-surged-5.95%-after-consolidated-net-profit-jumped-10.3%-to-₹-268.10-crore-on-16.9%-fall-in-net-sales-to-₹-6,452.99-crore-in-Q1-June-2020-over-Q1-June-2019.

Revenues-dropped-mainly-due-to-lower-power-demand,-delay-in-solar-EPC-businesses-on-account-of-COVID-19-and-lower-coal-FOB-prices.-However,-the-company-maintained-stable-performance-despite-lower-profits-from-solar-EPC-businesses-mainly-on-account-of-lower-financing-cost-and-stable-performance-across-clusters.-The-company-reported-a-strong-cash-generation-due-to-strong-collection-and-tighter-control-over-working-capital.

The-Q1-FY21-consolidated-EBITDA-stood-at-₹-2,037-crore-including-renewable-EBITDA-of-₹-588-crore-as-compared-to-₹-663-crore-in-Q1-FY20-mainly-due-to-delay-in-the-solar-EPC-projects-due-to-COVID-19.-During-the-quarter,-Tata-Power-won-new-renewables-bids-totaling-220-MW-(megawatt).-The-company's-solar-EPC-order-book-stands-at-₹-8,700-crore.

Aurobindo-Pharma-fell-5.64%.-The-pharma-company's-consolidated-net-profit-jumped-22.8%-to-₹-780.68-crore-on-8.9%-increase-in-net-sales-to-₹-5835.23-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-margin-marginally-improved-to-21.2%-in-Q1-June-2020-from-21.1%-from-Q1-June-2019.

Thermax-rose-1.43%.-The-company-reported-a-consolidated-net-loss-of-₹-15-crore-in-Q1-June-2020-as-against-a-net-profit-of-₹-63-crore-reported-in-the-same-period-last-year.-Sales-declined-52%-year-on-year-(YoY)-to-₹-665-crore-during-the-quarter.-Thermax-said-that-the-unprecedented-slowdown-in-industrial-activity-globally-during-the-quarter,-mainly-on-account-of-the-COVID-19-pandemic,-has-severely-impacted-the-company's-performance.-The-company-registered-a-loss-for-the-first-time-in-two-decades.-

Powered-by-Capital-Market---Live-News

The-domestic-equity-benchmarks-ended-with-small-losses-on-Thursday.-Trading-was-volatile-due-to-weekly-expiry-of-index-options.-The-S&P-BSE-Sensex,-fell-59.14-points-or-0.15%-at-38,310.49.-The-Nifty-50-index-lost-7.95-points-or-0.07%-at-11,300.45.

After-opening-in-the-green,-the-equity-barometers-hit-day's-high-in-mid-morning-trade.-As-profit-taking-emerged-at-higher-levels,-the-key-indices-hit-the-day's-low-in-early-afternoon-trade.-However,-the-benchmarks-indices-staged-a-decent-recovery-and-managed-to-end-the-day-with-minimal-losses.-

The-broader-market-outperformed-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-gained-1.59%-while-the-S&P-BSE-Small-Cap-index-rose-0.76%.-

The-market-breadth-was-positive.-On-the-BSE,-1576-shares-rose-and-1156-shares-fell.-A-total-of-142-shares-were-unchanged.-

COVID-19-update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-20,634,064-with-749,424-deaths.-India-reported-6,53,622-active-cases-of-COVID-19-infection-and-47,033-deaths-while-16,95,982-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Numbers-to-Watch:

The-yield-on-10-year-benchmark-federal-paper-rose-to-5.896%-as-compared-with-5.884%-at-close-in-the-previous-trading-session.

In-the-foreign-exchange-market,-the-rupee-edged-lower-against-the-dollar.-The-partially-convertible-rupee-was-hovering-at-74.8475,-compared-with-its-close-of-74.83-during-the-previous-trading-session.

In-the-commodities-market,-Brent-crude-for-October-2020-settlement-fell-13-cents-at-$45.30-a-barrel.-The-contract-rose-93-cents,-or-2.09%-to-settle-at-$45.43-a-barrel-in-the-previous-trading-session.

Foreign-Markets:

European-markets-tumbled-while-most-Asian-markets-ended-higher-on-Thursday.-Investors-awaited-the-latest-US-jobless-claims-data-and-tracked-the-lack-of-progress-in-negotiations-over-a-US-pandemic-relief-package.

The-media-reported-that-China's-banking-industry-is-expected-to-dispose-3.4-trillion-yuan-($489.91-billion)-of-bad-loans-in-2020-to-contain-financial-risks-in-an-economy.

The-US-stock-market-finished-higher-on-Wednesday,-12-August-2020,-as-investors-chased-for-riskier-assets-amid-stronger-than-expected-economic-data-and-some-signs-of-a-slowdown-in-the-spread-of-the-coronavirus-pandemic-cases-in-the-US-and-optimism-over-efforts-to-produce-a-vaccine.

Meanwhile,-US-Treasury-Secretary-Steven-Mnuchin-said-the-White-House-and-top-Democrats-in-Congress-may-not-be-able-to-reach-a-deal-on-coronavirus-aid,-marking-a-fifth-day-without-talks,-as-the-stalemate-blocked-relief-to-tens-of-millions-of-Americans.

US-consumer-prices-climbed-by-0.6%-in-July,-according-to-a-report-released-by-the-Labor-Department-on-Wednesday.-The-stronger-than-expected-consumer-price-growth-was-partly-due-to-a-continued-spike-in-energy-prices.-However,-the-jump-in-energy-prices-was-partly-offset-by-a-pullback-in-food-prices.-

Buzzing-Indian-Segment:

The-Nifty-Auto-index-rose-1.22%-to-7,879.75.-The-index-has-added-8.83%-in-eight-sessions.

The-Supreme-Court-in-its-order-today-stated-that-only-those-BS-IV-vehicles-sold-prior-to-lockdown-and-uploaded-on-eVahan-portal-will-be-permitted-for-registration.-BS-IV-vehicles-that-have-not-been-uploaded-to-the-eVahan-Portal-are-not-going-to-be-registered,-nor-will-any-BS-IV-automobile-offered-after-31-March-2020.-

Bharat-Forge-(up-15.65%),-Tata-Motors-(up-4.63%),-TVS-Motor-Company-(up-3.14%)-and-Escorts-(up-0.22%)-advanced.-

Hero-MotoCorp-rose-1.35%-ahead-of-Q1-results-today.-

Ashok-Leyland-jumped-13.16%-after-the-company-posted-a-consolidated-net-loss-of-₹-389-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-275-crore-reported-in-Q1-June-2019.-Consolidated-income-from-operations-for-quarter-ending-June-2020-stood-at-₹-1480-crore,-tumbling-77%-from-₹-6514.73-crore-in-the-same-period-last-year.

The-commercial-vehicle-manufacturer-said-that-a-drop-in-revenue-was-due-to-the-lock-down-on-account-of-the-COVID-19-pandemic.-With-virtually-no-operations-or-revenues-in-the-first-part-of-this-quarter-owing-to-the-lock-down,-the-demand-is-seen-to-be-gradually-opening-up-as-the-lock-down-is-being-eased.-

Eicher-Motors-declined-2.10%-ahead-of-Q1-results-today.-

VE-Commercial-Vehicles-(VECV),-the-truck-and-bus-making-subsidiary-of-Eicher-Motors,-has-signed-an-agreement-to-buy-the-bus-division-of-Volvo-in-India-for-₹-100-crore.-The-agreement-will-cover-the-manufacture,-assembly,-distribution,-and-sale-of-the-Volvo-Buses-in-India,-and-other-rights-forming-part-of-the-business.-Consequently,-the-bus-manufacturing-facility-at-Hosakote,-Bengaluru,-and-all-employees-of-Volvo-Bus-India-(VBI)-will-be-transferred-to-VECV.-Volvo-Bus-India-is-currently-a-division-of-Volvo-Group-India-(VGIPL).

Stocks-in-Spotlight:

Larsen-&-Tourbo-(L&T)-rose-4.31%.-The-construction-arm-of-L&T-has-secured-significant--contracts-from-prestigious-clients-for-its-varied-businesses.-As-per-the-L&T's-classification,-the-valuation-of-the-'significant'-order-stands-between-₹-1,000-crore-and-2,500-crore.-

Interglobe-Aviation-surged-12.26%.-Jwalamukhi-Investment-Holdings,-a-private-investment-arm-of-Westbridge-Capital,-bought-54.34-lakh-shares,-or-1.41%-equity,-of-the-aviation-giant-from-Kotak-Mahindra-(International)-for-₹-1,028-per-share.-The-transaction-took-place-via-bulk-deal-on-Bombay-Stock-Exchange-(BSE)-on-Wednesday,-12-August-2020.-

Grasim-Industries-gained-0.86%.-The-company's-consolidated-net-profit-tumbled-72.8%-to-₹-352-crore-on-a-32.2%-declined-in-revenue-from-operations-to-₹-13,621-crore-in-Q1-FY21-over-Q1-FY20.-Consolidated-EBITDA-fell-41.42%-to-₹-2613-crore-in-Q1-FY21-over-₹-4461-crore-in-Q1-FY20.-The-results-have-been-severely-impacted-due-to-the-unprecedented-disruption-in-economic-activities-on-account-of-COVID-19-induced-lockdown-in-all-the-major-markets-during-the-quarter-and-the-resultant-demand-&-supply-chain-disruptions.-

GAIL-(India)-declined-0.56%-after-the-company-posted-a-57.2%-drop-in-consolidated-net-profit-to-₹-642.97-crore-in-Q1-June-2020-as-compared-to-₹-1503.67-crore-reported-in-Q1-June-2019.-Consolidated-revenue-from-operations-stood-at-₹-12,180.62-in-Q1-June-2020,-falling-34%-from-₹-18481.56-crore-posted-in-Q1-June-2019.

GAIL-said-that-the-COVID-19-impacted-company's-physical-performance-due-to-nationwide-lockdown.-However,-the-company-said-it-expects-to-reach-normal-levels-during-upcoming-period-in-FY-2020-21.

Godrej-Industries-fell-1.77%-after-the-company's-consolidated-net-profit-dropped-40.3%-to-₹-106.17-crore-on-30.4%-decline-in-revenue-from-operations-to-₹-1980-crore-in-Q1-June-2020-over-Q1-June-2019.

Cummins-India-advanced-3.25%.-The-company's-consolidated-net-profit-slumped-65.24%-to-₹-53.02-crore-on-63.11%-decrease-in-revenue-from-operations-to-₹-488.74-crore-in-Q1-June-2020-over-Q1-June-2019.

Cummins-expects-gradual-recovery-of-demand-in-coming-months.-However,-there-remains-significant-uncertainty-around-how-COVID-19-will-impact-market-demand-as-well-as-customer-and-supplier-operations.-Due-to-this-uncertainty-the-company-is-not-providing-a-full-year-revenue-guidance-for-FY-2021.

Tata-Power-surged-5.95%-after-consolidated-net-profit-jumped-10.3%-to-₹-268.10-crore-on-16.9%-fall-in-net-sales-to-₹-6,452.99-crore-in-Q1-June-2020-over-Q1-June-2019.

Revenues-dropped-mainly-due-to-lower-power-demand,-delay-in-solar-EPC-businesses-on-account-of-COVID-19-and-lower-coal-FOB-prices.-However,-the-company-maintained-stable-performance-despite-lower-profits-from-solar-EPC-businesses-mainly-on-account-of-lower-financing-cost-and-stable-performance-across-clusters.-The-company-reported-a-strong-cash-generation-due-to-strong-collection-and-tighter-control-over-working-capital.

The-Q1-FY21-consolidated-EBITDA-stood-at-₹-2,037-crore-including-renewable-EBITDA-of-₹-588-crore-as-compared-to-₹-663-crore-in-Q1-FY20-mainly-due-to-delay-in-the-solar-EPC-projects-due-to-COVID-19.-During-the-quarter,-Tata-Power-won-new-renewables-bids-totaling-220-MW-(megawatt).-The-company's-solar-EPC-order-book-stands-at-₹-8,700-crore.

Aurobindo-Pharma-fell-5.64%.-The-pharma-company's-consolidated-net-profit-jumped-22.8%-to-₹-780.68-crore-on-8.9%-increase-in-net-sales-to-₹-5835.23-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-margin-marginally-improved-to-21.2%-in-Q1-June-2020-from-21.1%-from-Q1-June-2019.

Thermax-rose-1.43%.-The-company-reported-a-consolidated-net-loss-of-₹-15-crore-in-Q1-June-2020-as-against-a-net-profit-of-₹-63-crore-reported-in-the-same-period-last-year.-Sales-declined-52%-year-on-year-(YoY)-to-₹-665-crore-during-the-quarter.-Thermax-said-that-the-unprecedented-slowdown-in-industrial-activity-globally-during-the-quarter,-mainly-on-account-of-the-COVID-19-pandemic,-has-severely-impacted-the-company's-performance.-The-company-registered-a-loss-for-the-first-time-in-two-decades.-

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