Live: Sensex\, Nifty Off Day’s Low; Nifty Bank Falls 550 Points

Live: Sensex, Nifty Decline; Nifty Bank Falls 600 Points
Index graphs run across a computer screen on the investment floor at Aviva Investors, in London, U.K. (Photographer: Jason Alden/Bloomberg News)

Live: Sensex, Nifty Decline; Nifty Bank Falls 600 Points

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Quarterly Business Update: Adani Transmission

  • Transmission lines are operating at greater than 99.5% availabilities and there is no adverse impact on billing.
  • The continued lockdown has resulted in migration of resources affecting project execution work.
  • This will result in a slight delay in Scheduled Commercial Operation Date (SCOD) of projects.
  • Distribution losses at 13.47% from 7.78% where losses increased on provisional average billing.
  • Issued required force majeure and change in law notices under the provisions of transmission services agreement to mitigate the losses due to time and cost overrun.

Shares fell as much as 3% to Rs 232.5, down for the third straight day.

Earnings Reaction: Zensar Technologies

  • U.S. Dollar revenue down 7% to $130.8 million
  • Revenue down 2.6% to Rs 991.2 crore
  • Net profit up 5.5% to Rs 73.3 crore
  • Ebit up 0.6% to Rs 83.4 crore
  • Ebit margin at 8.4% from 8.1%
  • Lower other expenses aid margins
  • Digital and Application services revenue down 9% to Rs 805.2 crore
  • Digital Foundation services revenue flat at Rs 186 crore
  • Total Contract Value (TCV) during the quarter at $150 million
  • Current pipeline at $1.5 billion
  • U.S. business contributes 76.3% of total revenue

Shares gained as much as 4% to Rs 146. The stock has gained in four out of the five sessions this week.

Markets At Noon

  • Benchmark indices trade near the day's low
  • Nifty down 0.7% at 11,131
  • Sensex down 0.6% at 37,914
  • Nifty Bank down 2.4% at 22,525
  • Nifty Midcap Index down 0.7%
  • Nifty Smallcap Index down 0.4%
  • India Volatility Index up 0.8% to 24.83
  • Nifty Media, Nifty Metal, Nifty PSU Bank and Nifty Realty indices fall over 2% each
  • Nifty I.T. is the only sectoral gainer; up 0.5%
  • Nifty Pharma index gives up gains; down 0.7%
  • Reliance Industries remains the top Nifty gainer; up 4% to a record high
  • Zee Entertainment remains the top Nifty laggard; down 4.2%
  • 537 stocks on the NSE trade with gains; 1,201 decline

All Constituents On The Nifty Metal Index Decline

Covid-19 Impact On HPCL

  • Sale of petroleum products in May was at 77% compared to last year while the figure in June stood at 91%.
  • LPG demand saw a sharp rise during the lockdown period. Increased the production of LPG by optimising operations.
  • Supplied an average of 12.5 lakh cylinders per day during the April-June period.
  • Overall capacity utilisation of almost 100% for its Mumbai and Visakh refineries.

Shares fell as much as 3% to Rs 225, and have declined in two sessions this week.