New Delhi: Rising for the 5th consecutive day, markets ended marginally higher on Thursday amid expiry of August derivative contracts.
The BSE Sensex succumbed to selling pressure in the last hour of trade. It finally finished at 39,113.47, up 39.55 points or 0.10 per cent. The NSE Nifty inched up 9.65 points or 0.08 per cent to close at 11,559.25. Sectorally, the BSE realty index rallied 6.63 per cent, followed by auto, consumer durables, healthcare, bankex, finance, and industrials indices. Broader BSE mid-cap and small-cap indices settled up to 0.35 per cent higher.
Here are Stocks in focus on August 28, 2020
NMDC Limited’s profit after tax for the first quarter ended June 30 slumped by 55 per cent to Rs 533 crore as both production and sales were impacted due to the COVID-19 lockdown, the state-owned miner said on Thursday. The company had posted Rs 1,179 crore PAT in the corresponding quarter in 2019-20, it said in a release here.
MR Infrastructure Ltd on Thursday unveiled a strategic group restructuring involving demerger of non-airport vertical business as part of efforts to simplify the corporate holding structure. Along with the rejig, the board of GMR Infrastructure Ltd (GIL) on Thursday also approved raising up to Rs 5,000 crore through issuance of securities.
The Edelweiss Group, which runs the country’s second largest wealth management business, on Thursday sold 51 per cent stake in the vertical to private equity firm PAG Partners for Rs 2,200 crore. The transaction is part of its planned demerger and subsequent listing of the business. The deal values Edelweiss Wealth Management (EWM), which manages assets worth Rs 1.27 lakh crore, at around Rs 4,300 crore and unlocks value for shareholders, the company said.
Credit rating firm ICRA has reported a 17 per cent fall in consolidated net profit to Rs 17.04 crore for the first quarter ended June 30, 2020. The company’s net profit had stood at Rs 20.53 crore in the corresponding quarter of the previous fiscal.
Its total income also moderated to Rs 80.79 crore for the quarter ended June 2020, from Rs 88.69 crore a year ago, ICRA said in a regulatory filing.