Traders look at their computer screens on the trading floor. (Photographer: Kerem Uzel/Bloomberg)

Sensex, Nifty Log Weekly Losses As PM Modi Faces Trust Vote

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Countdown Live: Buzz In Dealing Rooms; Closing Strategies

Closing Bell: Sensex, Nifty Log Weekly Losses As PM Modi Faces Trust Vote

Indian equity benchmarks registered losses this week as Prime Minister Narendra Modi faced a no-trust vote.

The S&P BSE Sensex Index ended 0.1 percent lower this week to close at 36,496.37 and the NSE Nifty 50 Index ended above 11,000.

The market breadth was tilted in favour of sellers. Nine out of 11 sectoral gauges compiled by NSE advanced today, led by NSE Nifty Pharma Index's 1.7 percent gain. On the flipside, NSE Nifty Media Index was the top sectoral loser, down 0.5 percent.

Zee Media Q1 Profit Rises On Exceptional Gains; Shares Surge

Shares of the media company rose as much as 20 percent, the most in nearly 26 months to Rs 27.90, after the company's June quarter profit rose on exceptional gains.

Key earnings highlights (Q1, YoY):

  • Net profit at Rs 35 crore versus Rs 5.2 crore.
  • Revenue up 35 percent at Rs 154.7 crore.
  • Ebitda up 43.3 percent at Rs 35.8 crore.
  • Margin at 231 percent versus 21.8 percent.
  • One-time gain of Rs 41.2 crore.

Anupam Jindal, Chief Financial Officer At Sterlite Technologies Speaks BloombergQuint

Key highlights from the conversation:

  • Expect to close the European transaction by august.
  • European acquisition order is EPS accretive.
  • European market continues to show robust growth.
  • Expect to expand capacity utilisation of European acquisition to 100 percent.
  • Execution of the order will happen over the next two years.
  • Expect formal purchase order within the next 1-2 months.
  • Need to complete certain formalities before formalising the navy order.
  • Focus on growing Ebitda; margin is a derived number.

Kansai Nerolac Falls After Q1 Earnings Report

Shares of the paint manufacturer fell as much as 3.3 percent to Rs 464.05, after announcing its June quarter results.

Key earnings highlights (Q1, YoY):

  • Revenue up 17 percent at Rs 1376 crore.
  • Net profit down 0.7 percent at Rs 140 crore.
  • Ebitda up 6 percent at Rs 220 crore.
  • Margins at 16 percent versus 17.6 percent.

CEAT Surges The Most In Over A Year After Q1 Profit, Revenue Beat Estimates

Shares of the tyre manufacturer rose as much as 9 percent, the most since June 2017, to Rs 1,345. The company net profit and revenue surpassed analysts estimates during the quarter ended June.

Key earnings highlights (Q1, YoY):

  • Net profit at Rs 72 crore versus Rs 1.6 crore.
  • Revenue up 17 percent at Rs 1,706 crore.