Goodwill Investors’ Education: 10th June 2020
Eagle’s Eyes: Stock Market Today- A review:
MARKET NEWS TODAY: Bank Nifty 21033. NIFTY 10137 SENSEX:34297…All High.
The rights issue of Reliance Industries (RIL) received total bids for 55.08 crore shares, as against 42.26 crore shares on offer, according to BSE data. The issue was oversubscribed by 1.3 times. The rights issue valued at Rs 53,125 crore, opened for subscription on 20 May 2020 and closed on 3RD JUNE 2020. One share for every 15 shares of RIL was given @ Rs 1257 as against today’s market rate of Rs. 1560.
GAIL (India) and Energy Efficiency Services (EESL) have entered in to an agreement and signed a Memorandum of Understanding (MoU) last day for cooperation in development of Trigeneration projects in India. The MoU aims at building a closer strategic partnership between the two. companies by jointly exploring business opportunities
GAIL India which is quoting at Rs.101 today and is a counter to watch by investors.
Aurobindo Pharma’s consolidated net profit shot up by 45.18% to Rs 849.83 crore on 16.56% rise in net sales to Rs 6,063.40 crore in Q4 March 2020 over Q4 March 2019.
The script is quoting at Rs 789-up. This is a script worth watching for a short term gain.
Public sector Oil Company BPCL has announced the results for the Q$ 2020. As per that the net loss of Bharat Petroleum Corporation stood at Rs 1361.01 crore in Q4 2020 as against net profit of Rs 3124.91 crore in Q4 2019. Sales declined 6.76% to Rs 68991.44 crore.May be aptly due to lock down and non movement of transport vehicles- both public and private. Since the lock down is being slowly relaxed the vehicle movement will bring in more demand for the oil. BPCL now quotes at Rs. 384.. 1 % down.
Similarly IOC is also down by 1 % quoting around Rs 89 per share
In Agri. sector,V.S.T Tillers Tractors said power tillers sales rose to 1,750 units in May 2020 from 1,411 units in May 2019. Tractors sales rose to at 633 units from 527 units.
Generally NBFC shares are quoting at low rates and MAS Financial services is not an exception. Its net Profit dropped by 14.21 % and at Rs 35.68 Cr. Share @ Rs.679.
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