Dwarikesh Sugar Q4 Results, Rising Gold Prices, and Top Cues in Focus Today

Thu, 11 Jun Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets ended on a positive note yesterday.

Sectoral indices ended on a mixed note with stocks in the banking sector and realty sector witnessing buying interest. Meanwhile, auto stocks witnessed selling pressure.

At the closing bell yesterday, the BSE Sensex ended up by 290 points.

Meanwhile, the NSE Nifty stood higher by 69 points.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.8% and 0.9%, respectively.

Sugar stocks were witnessing buying interest.

Dwarikesh Sugar touched its 52-week yesterday as the company posted strong set of numbers for the quarter ended March 2020.

Dwarikesh Sugar reported a 37% year-on-year (YoY) jump in net profit at Rs 442.6 million and 118% YoY jump in revenue from the operations at Rs 4,617 million in Q4FY20.

For the full year, net profit declined 22.7% YoY to Rs 734.5 million in the year ended March 2020. Sales rose 23.2% YoY to Rs 13.3 billion in the year ended March 2020.

Dhanuka Agritech also touched its 52-week high as the company's consolidated net profit rose 46% YoY at Rs 390 million, while revenue rose 18.1% YoY at Rs 2,275.7 million.

Gold Witnesses Buying

Gold was witnessing buying interest yesterday. Gains for the yellow metal were seen tracking positive trend seen in the international spot prices as global equity markets eased after a recent rally.

Internationally, gold prices rose on the back of a weak US dollar and safe haven appeal for the yellow metal as investors awaited clarity on the state of the economy and further stimulus from the US Federal Reserve's policy meeting.

Gold has been witnessing volatility during the past few days due to the rally seen in equities as economies globally recover from lockdown. However, a weak dollar and US-China trade tensions are expected to support gold prices in the near term.

Back home, lockdown restrictions have lifted to a large extent from Monday. This has eased concerns over the impact of Covid-19 pandemic on the economy, thus diminishing the appeal of safe-haven gold.

We will keep you updated on how gold performs in the coming days. Stay tuned.

Speaking of gold, in one of his videos, Vijay Bhambwani, editor of Fast Profits Daily, explains why this year's US presidential elections could be bullish for gold.

As per him, the US presidential cycle may not be as predictable this time as it usually is. But there is good money to be made if you can play this trend correctly.

He shows a simple way to profit from this important event. Tune in to know more...

FM Asks Banks to be Proactive in Lending

In news from the banking sector, Finance Minister Nirmala Sitharaman asked state-run banks to help businesses with loan requirements, even as credit growth is expected to plunge this fiscal as the national lockdown had brought economic activity to a near halt.

In a meeting with heads of state-run banks, Sitharaman asked lenders to continue their focus on sanctioning loans to small businesses, under the recently announced emergency credit line guarantee scheme (ECLGS).

In the meeting over video conference, Sitharaman reviewed credit extended by lenders, including a detailed analysis of the recently announced emergency credit line guarantee scheme, loan sanctioned, potential beneficiaries, number of borrowers contacted, as well as the status of disbursal of loans.

ECLGS is part of the government's Rs 20 trillion financial package to tide over the covid-19 crisis. This collateral-free loan is expected to enable small businesses to pay for salaries, rent and restocking.

As of June 8, PSBs have sanctioned loans worth Rs 11.1 billion for MSME hubs in 12 states under the 100% Emergency Credit Line Guarantee Scheme, of which Rs 6 billion has already been disbursed to 17,904 accounts.

Last month, the cabinet had approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25% through ECLGS for the MSME sector.

Under the scheme, 100% guarantee coverage will be provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs and interested Micro Units Development and Refinance Agency (MUDRA) borrowers, in the form of a guaranteed emergency credit line (GECL) facility.

For this purpose, a corpus of Rs 416 billion was provided by the government spread over the current and the next three financial years.

Note that this scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat package announced by Finance Minister Nirmala Sitharaman last month.

Speaking of the stimulus package, it is interesting to note that this is the largest stimulus package ever announced by India.

At about 10.2%, it is among the biggest stimulus packages announced over the past few months by governments all around the world. This is evident in the chart below:

Now, executing the package, keeping India's long-term economic interests in mind, will be the key.

From the FMCG Space: Parle-G Reports Best Sales; Godrej Consumer MD Resigns

In news from the FMCG space, Parle-G has reportedly registered its best sales figures in over eight decades during the COVID-19 lockdown period.

The company's overall market share has grown by nearly 5%. And 80-90% of this growth has come from the Parle-G sales.

However, the company has not revealed the specific sales numbers.

The sale of the 5-rupees-a-pack biscuit increased as it was consumed by many migrants who walked hundreds of kilometers to get back home.

Besides, many people stocked it at home and various organizations and individuals distributed the packets of Parle-G to the needy.

In other news, Godrej Consumer Products share price will be in focus today on reports that the company's Managing Director and CEO Vivek Gambhir has resigned from the company citing personal reasons with effect from the close of business hours on 30 June 2020.

Reportedly, Gambhir will continue to be on the board as a whole-time director until 30 September 2020.

Further, Nisaba Godrej, who is currently serving as a whole-time director has been appointed as the managing director till the conclusion of her existing term i.e. September 2022.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers