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Market ends with strong gains
(15:34, 06 Aug 2020)

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Key-benchmarks-ended-a-volatile-session-with-strong-gains-on-Thursday.-Trading-was-volatile-due-to-weekly-expiry-of-index-options.-The-Reserve-Bank-of-India-(RBI)-decided-to-keep-rates-unchanged-in-its-monetary-policy-meeting.-Banking-and-finance-stocks-were-in-demand-as-RBI-allowed-banks-to-restructure-stressed-loans.

As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex-spurted-362.12-points-or-0.96%-at-38,025.56.-The-Nifty-50-index-jumped-104.8-points-or-0.94%-at-11,206.70.

Index-heavyweight-Infosys-(up-3.01%),-TCS-(up-2.22%)-and-HDFC-Bank-(up-1.24%)-propelled-indices-higher.-

The-broader-market-ended-higher.-The-S&P-BSE-Mid-Cap-index-gained-0.92%-while-the-S&P-BSE-Small-Cap-index-advanced-1.01%.

The-market-breadth-was-strong.-On-the-BSE,-1586-shares-rose-and-1072-shares-fell.-A-total-of-172-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-sold-shares-worth-₹-60.18-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-425.98-crore-in-the-Indian-equity-market-on-5-August,-provisional-data-showed.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-18,824,259-with-707,905-deaths.-India-reported-5,95,501-active-cases-of-COVID-19-infection-and-40,699-deaths-while-13,28,336-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

RBI-MPC-Outcome:

The-six-member-monetary-policy-committee-(MPC),-headed-by-RBI-governor-Shaktikanta-Das,-kept-repo-rate-untouched-at-4%;-and-reverse-repo-rate-at-3.35%-while-maintaining-the-accommodative-stance.-The-MPC-had-convened-the-three-day-meeting-on-Tuesday,-4-August.

RBI-governor-Shaktikanta-Das-said-inflation-is-expected-to-stay-elevated-in-Q2-FY21-but-it-is-likely-to-ease-in-H2-aided-by-favourable-base-effects.-Real-GDP-growth-will-remain-in-the-negative,-Das-said.-However,-he-added-that-any-positive-news-on-the-COVID-19-containment-efforts-would-change-this-scenario.-RBI-is-taking-measures-to-enhance-liquidity-support,-further-ease-financial-stress.

Das-said-₹-10,000-crore-additional-liquidity-facility-will-be-provided-by-NHB-(National-Housing-Bank),-NABARD-(National-Bank-for-Agriculture-and-Rural-Development).

RBI-has-decided-to-permit-one-time-restructuring-of-corporate-loans.-The-details-of-this-exercise-will-be-spelt-out-by-a-committee-headed-by-veteran-banker-KV-Kamath.-Das-said-a-window-under-the-7-June-2020-stressed-asset-resolution-framework-will-be-provided-which-will-enable-lenders-to-implement-a-resolution-plan,-without-a-change-in-ownership.

RBI-also-provided-a-fresh-lifeline-to-millions-of-stressed-small-businesses-by-extending-the-provision-of-restructuring-of-loans.-A-restructuring-framework-for-MSMEs-that-were-in-default,-but-were-standard-on-1-January-2020-is-already-in-place.-Accordingly,-it-has-been-decided-that-stressed-MSME-borrowers-will-be-made-eligible-for-restructuring-their-debt-under-the-existing-framework,-provided-their-accounts-with-the-concerned-lender-were-classified-as-standard-as-on-1-March-2020.-This-restructuring-will-have-to-be-implemented-by-31-March-2021.-

With-a-view-to-mitigating-the-impact-of-COVID-19-on-households,-the-RBI-decided-to-increase-the-permissible-loan-to-value-ratio-(LTV)-for-loans-against-pledge-of-gold-ornaments-and-jewellery-for-non-agricultural-purposes-to-90%-from-75%-earlier-and-has-this-relaxation-available-till-31-March-2021.

Meanwhile,-RBI-has-brought-in-startups-and-renewable-energy-sectors-(including-solar-power-and-compressed-bio-gas-plants)-into-the-purview-of-Priority-Sector-Lending-(PSL).-The-RBI-has-also-amended-the-priority-sector-guidelines-to-do-away-with-regional-disparity.

Earnings-Impact:

Canara-Bank-down-0.68%.-The-bank-said-its-net-profit-rose-23.5%-to-₹-406.24-crore-on-47%-rise-in-total-income-to-₹-20,685.91-crore-in-Q1-June-2020-over-Q1-June-2019.-The-bank's-net-interest-income-grew-by-21.11%-to-₹-6096-crore-in-Q1-June-2020-from-Q1-June-2019.-On-the-asset-quality-front,-the-bank's-gross-non-performing-assets-(NPAs)-stood-at-₹-57,525.52-crore-as-on-30-June-2020-as-against-₹-37,041.15-crore-as-on-31-March-2020-and-₹-39,399.02-crore-as-on-30-June-2019.-The-ratio-of-gross-NPAs-to-gross-advances-stood-at-8.84%-as-on-30-June-2020-as-against-8.21%-as-on-31-March-2020-and-8.77%-as-on-30-June-2019.-The-ratio-of-net-NPAs-to-net-advances-stood-at-3.95%-as-on-30-June-2020-as-against-4.22%-as-on-31-March-2020-and-5.35%-as-on-30-June-2019.

Adani-Power-was-up-0.1%.-The-company-reported-a-consolidated-net-loss-of-₹-682.46-crore-in-Q1-June-2020-as-against-net-loss-of-₹-263.39-crore-in-Q1-June-2019.-Revenue-from-operations-during-the-quarter-fell-33.3%-on-a-year-on-year-(YoY)-basis-to-₹-5203.83-crore.-The-company-reported-a-pre-tax-loss-of-₹-633.62-crore-in-Q1-FY21-as-against-pre-tax-loss-of-₹-121.75-crore-in-Q1-FY20.-Current-tax-expense-declined-75.9%-to-₹-22.18-crore-in-Q1-June-2020-over-Q1-June-2019.-Average-Plant-Load-Factor-(PLF)-achieved-during-the-first-quarter-of-FY21-is-51%,-as-compared-to-78%-achieved-in-Q1-FY20.-The-PLF-is-lower-due-to-the-decline-in-power-demand-following-the-nationwide-lockdown.-Consolidated-units-sold-for-the-quarter-are-12.7-BU,-as-compared-to-the-Q1-FY20-sales-volume-of-16.5-BU.

Apollo-Tyre-fell-0.26%.-The-tyre-maker-reported-consolidated-net-loss-of-₹-134.58-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-141.60-crore-in-Q1-June-2019.-Net-sales-tanked-33.8%-to-₹-2,828.23-crore-in-Q1-June-2020-over-₹-4,272.05-crore-in-Q1-June-2019.-Pre-tax-loss-stood-at-₹-162.20-crore-in-Q1-June-2020-compared-with-pre-tax-profit-of-₹-176.74-crore-in-Q1-June-2019.-Current-tax-expense-for-the-quarter-dropped-82.6%-to-₹-5.68-crore-as-against-₹-32.69-crore-in-Q1-June-2019.-The-result-was-announced-after-trading-hours-yesterday,-5-August-2020.

Inox-Leisure-was-up-0.15%.-The-multiplex-operator-reported-a-consolidated-net-loss-of-73.64-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-27.01-crore-in-Q1-June-2019.-Total-income-fell-99.4%-to-₹-2.97-crore-in-the-June-quarter-from-₹-496.13-crore-in-the-corresponding-period-last-year.-Amongst-the-steps-taken-to-reduce-operational-costs,-the-group-has-invoked-the-force-majeure-clause-under-various-lease-agreements-for-its-multiplex-premises,-contending-that-rent-and-CAM-(Common-Area-Maintenance)-charges-for-the-shutdown-period-on-account-of-COVID-19-pandemic-are-not-payable.

VIP-Industries-fell-2.47%-after-the-company-reported-a-consolidated-net-loss-of-₹-51.32-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-35.08-crore-in-Q1-June-2019.-Net-sales-tanked-92.9%-to-₹-40.33-crore-in-Q1-June-2020-over-Q1-June-2019.-Pre-tax-loss-stood-at-₹-67.38-crore-in-Q1-June-2020-as-against-pre-tax-profit-of-₹-54.68-crore-in-Q1-June-2019.-The-Q1-earnings-was-announced-after-trading-hours-yesterday,-5-August-2020

DLF-was-up-0.14%.-The-realty-major-reported-a-consolidated-net-loss-of-₹-70.65-crore-in-Q1-FY21-as-against-a-net-profit-of-₹-414.72-crore-in-Q1-FY20.-Revenue-from-operations-in-the-June-quarter-declined-58.8%-to-₹-548.63-crore-as-compared-to-the-same-period-last-year.-EBITDA-fell-78%-to-₹-99-crore-in-Q1-June-2020-from-₹-449-crore-crore-in-Q1-June-2019.-The-company-reported-a-pre-tax-loss-of-₹-179.48-crore-in-Q1-FY21-compared-with-pre-tax-profit-of-₹-158.86-crore-in-Q1-FY20.-With-respect-to-outlook,-DLF-said-that-the-company-remains-optimistic-about-the-business-and-its-growth-returning-to-levels-of-normalcy.

Adani-Gas-down-3.37%.-On-a-standalone-basis,-Adani-gas'-net-profit-fell-41.55%-to-₹-46.33-crore-on-56.24%-decline-in-net-sales-to-₹-197.15-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-tanked-41%-to-₹-86-crore-in-Q1-FY21-as-against-₹-146-crore-in-Q1-FY20.-Sales-volume-for-the-quarter-dropped-53%-to-64-million-metric-standard-cubic-meters-(MMSCM)-from-137-MMSCM-in-Q1-June-2019.-CNG-sales-tumbled-66%-to-24-MMSCM-in-Q1-June-2020-over-71-MMSCM-in-Q1-June-2019.-PNG-sales-skid-40%-to-40-MMSCM-in-Q1-FY21-as-compared-to-67-MMSCM-in-Q1-FY20.-Volume-in-June-2020-stood-at-0.71-million-metric-standard-cubic-meters-per-day-(MMSCMD)-as-compared-to-volume-in-April-2020-at-0.35-MMSCMD-showing-significant-volume-recovery-trend.-PNG-home-connection-increased-to-4.38-lakh-(979-new-connections-during-the-quarter)-while-Commercial-&-Industrial-connection-now-stands-increased-to-4,448.

JK-Lakshmi-Cement-shed-3.74%-after-consolidated-net-profit-fell-5.8%-to-₹-50.63-crore-on-19.8%-decline-in-net-sales-to-₹-911.54-crore-in-Q1-June-2020-over-Q1-June-2019.-Sales-volume-was-severely-impacted-by-lockdown-restrictions-during-most-part-of-the-quarter-Q1-June-2020-resulting-into-sales-volume-plunging-by-18%-Y-o-Y-(year-on-year)-in-April-June-2020-over-April-June-2019.-EBITDA-skid-14%-Y-o-Y-to-₹-151.51-crore-in-April---June-2020-as-against-₹-175.93-crore-in-April---June-2019.-Continuing-cost-savings,-improving-product-mix-&-reduction-in-logistic-costs-enabled-the-company-to-marginally-improve-its-operating-margins-to-17%.

Global-Markets:

European-markets-declined-while-most-Asian-markets-closed-higher-on-Thursday.-The-Bank-of-England-(BOE)-on-Thursday-kept-benchmark-interest-rates-at-an-all-time-low-of-0.1%-and-left-the-size-of-its-bond-buying-program-unchanged-at-£745-billion-($981-billion).

The-BOE-said-the-UK's-gross-domestic-product-(GDP)-was-expected-to-have-fallen-20%-in-the-second-quarter-when-compared-to-the-final-three-months-of-last-year.-The-Monetary-Policy-Committee's-central-projection-was-for-UK-GDP-to-continue-to-recover-beyond-the-near-term,-but-it-warned-that-the-economy-was-unlikely-to-exceed-its-pre-pandemic-level-until-the-end-of-2021.

In-US,-Wall-Street's-main-indexes-rose-on-August-5-after-Disney-delivered-a-surprise-quarterly-profit,-with-sentiment-aided-by-signs-that-a-coronavirus-fiscal-relief-package-was-imminent.

In-economic-news,-the-final-monthly-reading-of-the-closely-watched-ISM-service-sector-purchasing-managers-index-jumped-to-a-reading-of-58.1-in-July,-signalling-stronger-economic-growth.

US-services-industry-activity-gained-momentum-in-July-as-new-orders-jumped-to-a-record-high,-but-hiring-declined,-supporting-views-that-the-labor-market-recovery-was-faltering-amid-a-resurgence-in-new-COVID-19-infections-across-the-country.-The-Institute-for-Supply-Management-(ISM)-said-on-August-5-its-non-manufacturing-activity-index-increased-to-a-reading-of-58.1-last-month,-the-highest-since-March-2019,-from-57.1-in-June.-The-index-slumped-to-41.8-in-April,-which-was-the-lowest-reading-since-March-2009.

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

Key-benchmarks-ended-a-volatile-session-with-strong-gains-on-Thursday.-Trading-was-volatile-due-to-weekly-expiry-of-index-options.-The-Reserve-Bank-of-India-(RBI)-decided-to-keep-rates-unchanged-in-its-monetary-policy-meeting.-Banking-and-finance-stocks-were-in-demand-as-RBI-allowed-banks-to-restructure-stressed-loans.

As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex-spurted-362.12-points-or-0.96%-at-38,025.56.-The-Nifty-50-index-jumped-104.8-points-or-0.94%-at-11,206.70.

Index-heavyweight-Infosys-(up-3.01%),-TCS-(up-2.22%)-and-HDFC-Bank-(up-1.24%)-propelled-indices-higher.-

The-broader-market-ended-higher.-The-S&P-BSE-Mid-Cap-index-gained-0.92%-while-the-S&P-BSE-Small-Cap-index-advanced-1.01%.

The-market-breadth-was-strong.-On-the-BSE,-1586-shares-rose-and-1072-shares-fell.-A-total-of-172-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-sold-shares-worth-₹-60.18-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-425.98-crore-in-the-Indian-equity-market-on-5-August,-provisional-data-showed.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-18,824,259-with-707,905-deaths.-India-reported-5,95,501-active-cases-of-COVID-19-infection-and-40,699-deaths-while-13,28,336-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

RBI-MPC-Outcome:

The-six-member-monetary-policy-committee-(MPC),-headed-by-RBI-governor-Shaktikanta-Das,-kept-repo-rate-untouched-at-4%;-and-reverse-repo-rate-at-3.35%-while-maintaining-the-accommodative-stance.-The-MPC-had-convened-the-three-day-meeting-on-Tuesday,-4-August.

RBI-governor-Shaktikanta-Das-said-inflation-is-expected-to-stay-elevated-in-Q2-FY21-but-it-is-likely-to-ease-in-H2-aided-by-favourable-base-effects.-Real-GDP-growth-will-remain-in-the-negative,-Das-said.-However,-he-added-that-any-positive-news-on-the-COVID-19-containment-efforts-would-change-this-scenario.-RBI-is-taking-measures-to-enhance-liquidity-support,-further-ease-financial-stress.

Das-said-₹-10,000-crore-additional-liquidity-facility-will-be-provided-by-NHB-(National-Housing-Bank),-NABARD-(National-Bank-for-Agriculture-and-Rural-Development).

RBI-has-decided-to-permit-one-time-restructuring-of-corporate-loans.-The-details-of-this-exercise-will-be-spelt-out-by-a-committee-headed-by-veteran-banker-KV-Kamath.-Das-said-a-window-under-the-7-June-2020-stressed-asset-resolution-framework-will-be-provided-which-will-enable-lenders-to-implement-a-resolution-plan,-without-a-change-in-ownership.

RBI-also-provided-a-fresh-lifeline-to-millions-of-stressed-small-businesses-by-extending-the-provision-of-restructuring-of-loans.-A-restructuring-framework-for-MSMEs-that-were-in-default,-but-were-standard-on-1-January-2020-is-already-in-place.-Accordingly,-it-has-been-decided-that-stressed-MSME-borrowers-will-be-made-eligible-for-restructuring-their-debt-under-the-existing-framework,-provided-their-accounts-with-the-concerned-lender-were-classified-as-standard-as-on-1-March-2020.-This-restructuring-will-have-to-be-implemented-by-31-March-2021.-

With-a-view-to-mitigating-the-impact-of-COVID-19-on-households,-the-RBI-decided-to-increase-the-permissible-loan-to-value-ratio-(LTV)-for-loans-against-pledge-of-gold-ornaments-and-jewellery-for-non-agricultural-purposes-to-90%-from-75%-earlier-and-has-this-relaxation-available-till-31-March-2021.

Meanwhile,-RBI-has-brought-in-startups-and-renewable-energy-sectors-(including-solar-power-and-compressed-bio-gas-plants)-into-the-purview-of-Priority-Sector-Lending-(PSL).-The-RBI-has-also-amended-the-priority-sector-guidelines-to-do-away-with-regional-disparity.

Earnings-Impact:

Canara-Bank-down-0.68%.-The-bank-said-its-net-profit-rose-23.5%-to-₹-406.24-crore-on-47%-rise-in-total-income-to-₹-20,685.91-crore-in-Q1-June-2020-over-Q1-June-2019.-The-bank's-net-interest-income-grew-by-21.11%-to-₹-6096-crore-in-Q1-June-2020-from-Q1-June-2019.-On-the-asset-quality-front,-the-bank's-gross-non-performing-assets-(NPAs)-stood-at-₹-57,525.52-crore-as-on-30-June-2020-as-against-₹-37,041.15-crore-as-on-31-March-2020-and-₹-39,399.02-crore-as-on-30-June-2019.-The-ratio-of-gross-NPAs-to-gross-advances-stood-at-8.84%-as-on-30-June-2020-as-against-8.21%-as-on-31-March-2020-and-8.77%-as-on-30-June-2019.-The-ratio-of-net-NPAs-to-net-advances-stood-at-3.95%-as-on-30-June-2020-as-against-4.22%-as-on-31-March-2020-and-5.35%-as-on-30-June-2019.

Adani-Power-was-up-0.1%.-The-company-reported-a-consolidated-net-loss-of-₹-682.46-crore-in-Q1-June-2020-as-against-net-loss-of-₹-263.39-crore-in-Q1-June-2019.-Revenue-from-operations-during-the-quarter-fell-33.3%-on-a-year-on-year-(YoY)-basis-to-₹-5203.83-crore.-The-company-reported-a-pre-tax-loss-of-₹-633.62-crore-in-Q1-FY21-as-against-pre-tax-loss-of-₹-121.75-crore-in-Q1-FY20.-Current-tax-expense-declined-75.9%-to-₹-22.18-crore-in-Q1-June-2020-over-Q1-June-2019.-Average-Plant-Load-Factor-(PLF)-achieved-during-the-first-quarter-of-FY21-is-51%,-as-compared-to-78%-achieved-in-Q1-FY20.-The-PLF-is-lower-due-to-the-decline-in-power-demand-following-the-nationwide-lockdown.-Consolidated-units-sold-for-the-quarter-are-12.7-BU,-as-compared-to-the-Q1-FY20-sales-volume-of-16.5-BU.

Apollo-Tyre-fell-0.26%.-The-tyre-maker-reported-consolidated-net-loss-of-₹-134.58-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-141.60-crore-in-Q1-June-2019.-Net-sales-tanked-33.8%-to-₹-2,828.23-crore-in-Q1-June-2020-over-₹-4,272.05-crore-in-Q1-June-2019.-Pre-tax-loss-stood-at-₹-162.20-crore-in-Q1-June-2020-compared-with-pre-tax-profit-of-₹-176.74-crore-in-Q1-June-2019.-Current-tax-expense-for-the-quarter-dropped-82.6%-to-₹-5.68-crore-as-against-₹-32.69-crore-in-Q1-June-2019.-The-result-was-announced-after-trading-hours-yesterday,-5-August-2020.

Inox-Leisure-was-up-0.15%.-The-multiplex-operator-reported-a-consolidated-net-loss-of-73.64-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-27.01-crore-in-Q1-June-2019.-Total-income-fell-99.4%-to-₹-2.97-crore-in-the-June-quarter-from-₹-496.13-crore-in-the-corresponding-period-last-year.-Amongst-the-steps-taken-to-reduce-operational-costs,-the-group-has-invoked-the-force-majeure-clause-under-various-lease-agreements-for-its-multiplex-premises,-contending-that-rent-and-CAM-(Common-Area-Maintenance)-charges-for-the-shutdown-period-on-account-of-COVID-19-pandemic-are-not-payable.

VIP-Industries-fell-2.47%-after-the-company-reported-a-consolidated-net-loss-of-₹-51.32-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-35.08-crore-in-Q1-June-2019.-Net-sales-tanked-92.9%-to-₹-40.33-crore-in-Q1-June-2020-over-Q1-June-2019.-Pre-tax-loss-stood-at-₹-67.38-crore-in-Q1-June-2020-as-against-pre-tax-profit-of-₹-54.68-crore-in-Q1-June-2019.-The-Q1-earnings-was-announced-after-trading-hours-yesterday,-5-August-2020

DLF-was-up-0.14%.-The-realty-major-reported-a-consolidated-net-loss-of-₹-70.65-crore-in-Q1-FY21-as-against-a-net-profit-of-₹-414.72-crore-in-Q1-FY20.-Revenue-from-operations-in-the-June-quarter-declined-58.8%-to-₹-548.63-crore-as-compared-to-the-same-period-last-year.-EBITDA-fell-78%-to-₹-99-crore-in-Q1-June-2020-from-₹-449-crore-crore-in-Q1-June-2019.-The-company-reported-a-pre-tax-loss-of-₹-179.48-crore-in-Q1-FY21-compared-with-pre-tax-profit-of-₹-158.86-crore-in-Q1-FY20.-With-respect-to-outlook,-DLF-said-that-the-company-remains-optimistic-about-the-business-and-its-growth-returning-to-levels-of-normalcy.

Adani-Gas-down-3.37%.-On-a-standalone-basis,-Adani-gas'-net-profit-fell-41.55%-to-₹-46.33-crore-on-56.24%-decline-in-net-sales-to-₹-197.15-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-tanked-41%-to-₹-86-crore-in-Q1-FY21-as-against-₹-146-crore-in-Q1-FY20.-Sales-volume-for-the-quarter-dropped-53%-to-64-million-metric-standard-cubic-meters-(MMSCM)-from-137-MMSCM-in-Q1-June-2019.-CNG-sales-tumbled-66%-to-24-MMSCM-in-Q1-June-2020-over-71-MMSCM-in-Q1-June-2019.-PNG-sales-skid-40%-to-40-MMSCM-in-Q1-FY21-as-compared-to-67-MMSCM-in-Q1-FY20.-Volume-in-June-2020-stood-at-0.71-million-metric-standard-cubic-meters-per-day-(MMSCMD)-as-compared-to-volume-in-April-2020-at-0.35-MMSCMD-showing-significant-volume-recovery-trend.-PNG-home-connection-increased-to-4.38-lakh-(979-new-connections-during-the-quarter)-while-Commercial-&-Industrial-connection-now-stands-increased-to-4,448.

JK-Lakshmi-Cement-shed-3.74%-after-consolidated-net-profit-fell-5.8%-to-₹-50.63-crore-on-19.8%-decline-in-net-sales-to-₹-911.54-crore-in-Q1-June-2020-over-Q1-June-2019.-Sales-volume-was-severely-impacted-by-lockdown-restrictions-during-most-part-of-the-quarter-Q1-June-2020-resulting-into-sales-volume-plunging-by-18%-Y-o-Y-(year-on-year)-in-April-June-2020-over-April-June-2019.-EBITDA-skid-14%-Y-o-Y-to-₹-151.51-crore-in-April---June-2020-as-against-₹-175.93-crore-in-April---June-2019.-Continuing-cost-savings,-improving-product-mix-&-reduction-in-logistic-costs-enabled-the-company-to-marginally-improve-its-operating-margins-to-17%.

Global-Markets:

European-markets-declined-while-most-Asian-markets-closed-higher-on-Thursday.-The-Bank-of-England-(BOE)-on-Thursday-kept-benchmark-interest-rates-at-an-all-time-low-of-0.1%-and-left-the-size-of-its-bond-buying-program-unchanged-at-£745-billion-($981-billion).

The-BOE-said-the-UK's-gross-domestic-product-(GDP)-was-expected-to-have-fallen-20%-in-the-second-quarter-when-compared-to-the-final-three-months-of-last-year.-The-Monetary-Policy-Committee's-central-projection-was-for-UK-GDP-to-continue-to-recover-beyond-the-near-term,-but-it-warned-that-the-economy-was-unlikely-to-exceed-its-pre-pandemic-level-until-the-end-of-2021.

In-US,-Wall-Street's-main-indexes-rose-on-August-5-after-Disney-delivered-a-surprise-quarterly-profit,-with-sentiment-aided-by-signs-that-a-coronavirus-fiscal-relief-package-was-imminent.

In-economic-news,-the-final-monthly-reading-of-the-closely-watched-ISM-service-sector-purchasing-managers-index-jumped-to-a-reading-of-58.1-in-July,-signalling-stronger-economic-growth.

US-services-industry-activity-gained-momentum-in-July-as-new-orders-jumped-to-a-record-high,-but-hiring-declined,-supporting-views-that-the-labor-market-recovery-was-faltering-amid-a-resurgence-in-new-COVID-19-infections-across-the-country.-The-Institute-for-Supply-Management-(ISM)-said-on-August-5-its-non-manufacturing-activity-index-increased-to-a-reading-of-58.1-last-month,-the-highest-since-March-2019,-from-57.1-in-June.-The-index-slumped-to-41.8-in-April,-which-was-the-lowest-reading-since-March-2009.

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