Live: Sensex\, Nifty Flat; India VIX Pares Losses

Live: Sensex, Nifty Flat; India VIX Pares Losses
The BSE signage is seen through foliage in Mumbai, India. (Photographer: Vivek Prakash/Bloomberg)

Live: Sensex, Nifty Flat; India VIX Pares Losses

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Earnings Reaction: India Cements Q4FY20

  • Revenue down 26.3% to 1,151.9 crore
  • Net loss of Rs 111 crore from net profit of Rs 43.8 crore
  • Ebitda down 65% to Rs 67.3 crore
  • Ebitda margin down to 5.8% from 12.3%
  • Exceptional item refers to an impairment provision of Rs 100 crore relating to receivables from certain subsidiaries towards loans and advances given and interest accrued thereon.
  • All numbers are standalone and compared on a year-on-year basis

SEBI Extends Timeline To File FY20 Results

India's market regulator Securities and Exchange Board of India has extended the timeline to submit financial results for the quarter and year ended March 31, to July 31, Bloomberg News reports citing a SEBI statement.

The regulator had earlier set a deadline of June 30 for the same.

The revised timeline is also applicable for listed bonds and other debt issuances.

Companies, accountancy firms and industry bodies sought the extension due to continuing lockdown posing various operational challenges.

Markets At Noon

  • Benchmark indices give up gains; trade with losses
  • Sensex down 0.1% at 35,381
  • Nifty down 0.2% at 10,453
  • Nifty Bank down 1.2% at 21,994
  • Nifty Midcap Index trades little changed
  • Nifty Smallcap Index down 0.3%
  • India Volatility Index up 0.2% to 29.39
  • Nifty FMCG is the top sectoral gainer; up 1.1%
  • Nifty Media, Nifty Metal and Nifty Pharma fall between 0.5-1%
  • Asian Paints remains the top Nifty gainer; up 6.2%
  • IndusInd Bank is the top Nifty laggard; down 4%
  • 883 stocks on the NSE trade with gains while 862 decline

Stock Reaction: Cadila Healthcare

The pharma company received the final approval to market the Meclizine Hydrochloride tablets from the U.S. FDA. The tablets can be marketed in strengths of 12.5 mg and 25 mg. The company said in an exchange filing.

The said drug is an antihistamine used in the prevention and treatment of nausea, vomiting and dizziness caused due to motion sickness.

This drug will be manufactured in the group's manufacturing facility at SEZ, Ahmedabad.

Shares recovered from the day's low to gain as much as 1.7% to Rs 373.35. The stock is up for the second straight day.

Earnings Reaction: Asahi India Glass

  • Revenue down 18% to Rs 595.25 crore
  • Net profit up 15% to Rs 51.88 crore
  • Ebitda down 28% to Rs 84.72 crore
  • Ebitda margin down to 14.2% from 16.3%
  • Higher finance costs impact margins
  • Automotive glass segment revenue down 16.2% to Rs 350.5 crore
  • Float glass segment revenue down 23.9% to Rs 232.7 crore
  • All numbers are consolidated and compared on a year-on-year basis

Shares gained as much as 17% to Rs 218, post the announcement. This is the biggest single-day gain for the stock since June 2009. The stock is up for the fourth straight day and trades at the highest level in over three months.