Goodwill Investor Education Eagle’s Eyes – Stock Market Review

Goodwill Investors’ Education:                                                    5th June 2020

Eagle’s Eyes:  Stock Market Today- A review:

MARKET NEWS TODAY:

RELIANCE INDUSTRIES: (RIL) is the market leader and has heavy weight in the BSE and NSE Indices. Recently RIL announced Rights Issue for a total sum of Rs 53125 cr and was oversubscribed by 1.3 times. The issue price was at Rs 1257 per share as against this day’s rate of Rs. 1618.The issue closed on 3rd June 2020.One new share per 15 old shares was given on rights basis.

Subex Ltd: This share in BSE has gained 99.73 % in the last one month as against the  S & P BSE IT Sector Index gain of 8.37 %. But today Subex lost 3.96 %. Similarly Majesco Ltd lost 2.02 % and TCS 1.67 %. The BSE T Sector Index 14750.93- up by 100 points. About 76 Lakh shares were traded in BSE which is quite abnormal as the average in the past has been 13 L.

Britannia Industries : BI has done reasonable well despite the prevailing market slump. The Q4 results indicate that the PAT was up by 26 % to Rs 375 Cr. (PBT was Rs.450 Cr)- 1.6 % rise in Sales- Rs 2808 Cr.The company gained due to reduction in Tax expenses to the tune of 45 % -Rs 84.92 Cr vs Rs 156 Cr last year.

InterGlobe Aviation (IndiGo) : IndiGo lost substantially in the quarter Q4 for obvious reasons -thanks to Covid ’19. The net loss is of 871 cr in Q4  of 2020. The corresponding last quarter Q4 of 2019 showed a net profit of Rs 596 cr.Rs 1290 cr is the loss in Q4 before the Tax liability as against PAT of Rs626 cr last year Q4.

 

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