The Indian market performance can be attributed to expectations from the Prime Minister Narendra Modi who is set to address the nation around 4 pm on Tuesday, a day after the centre presented new guidelines for Unlock-2. The Ministry of Home Affairs has extended the nationwide lockdown till July 31, however, relaxed various activities outside the country's containment zones.
Here's a list of top 5 gainers and losers of the day on Sensex.
Nestle India: The stock was trading at Rs17,169 per piece, up by 2.68%. Suresh Narayanan, CEO and MD, Nestle India, told CNBC-TV18 in an interview, that Maggi noodles, there was almost a 20-25% surge that suddenly happened and obviously, we were scurrying to try and meet the demand amid Covid-19 pandemic.
Maruti Suzuki: The automaker's stock was performing at Rs5,822.35 per piece, up by 2.47%. The company has launched a distinctive loyalty program –Maruti Suzuki Rewards. This first-of-its-kind loyalty program will cover all passenger vehicle customers from ARENA, NEXA and True Value outlets
ICICI Bank: The stock was up 2.26% trading at Rs350.90 per piece. The bank has partnered with an online food delivery portal Swiggy. Together they have launched their own digital wallet ‘Swiggy Money’ which will allow customers across India to store money and can be used for all food orders.
Ultratech Cement: The stock gained by 2.17% trading at Rs3,891.10 per piece. The company has restricted its CAPEX to the tune of Rs1,000cr for the financial year FY21 due to Covid-19 pandemic. Also, cement stocks were broadly in focus on expectations that the companies in the segment may limit any sharp fall for the first quarter of FY21 led by higher demand and price mechanism.
Tata Steel: The company surged by 1.74% trading at Rs326.85 per piece. It reported a net loss of Rs1,095.68cr during the quarter ended March 2020 (Q4FY20) compared to a profit of Rs2,430.92cr in the corresponding period of the previous year. Meanwhile, consolidated revenue dropped by 20.40% in the quarter to Rs33,769.95cr as against Rs42,423.86cr a year ago same period.
Power Grid: The stock slumped by 2.02% trading at Rs174.65 per piece. The government has decided to let go of the Central Transmission Utility (CTU) from Power Grid. The government has asked the company to set up a CTU as a new 100 subsidiary.
Sun Pharma: The stock was trading at Rs472.50 per piece down by 1.93%. Sun Pharma announces Japan MHLW approval of ILUMYA for
the treatment of Plaque Psoriasis in adult patients who have an inadequate response to conventional therapies. Japan has approximately 430,000 people currently suffering from psoriasis.
ITC: The stock was performing at Rs194.35 per piece down by 1.45%. ITC recorded a standalone net profit at Rs3,797.08cr in Q4FY20 compared to a profit of Rs3,481.90cr in the corresponding period of the previous year. The company posted revenue of Rs11,420.04cr in the period as against Rs12,206.03cr a year ago same period.
ONGC: The stock was trading at Rs81.30 per piece lower by 1.33%. The company on Tuesday will consider and approve Standalone and Consolidated Audited Financial Results of the Company for the quarter and year ended on 31st March 2020 and also recommend final dividend, if any, for the financial year 2019-20
Bharti Airtel: The stock was trading at Rs559.95 per piece below 1.29%. Sunil Mittal-led Bharti Airtel has intimated exchanges that a meeting is scheduled on July 31, where its composite acquisition with Hughes Communications India Ltd (HCIL) will be discussed. Earlier in May, Airtel and Hughes signed an agreement to merge their VSAT (Very Small Aperture Terminal) satellite communications operations across India.