Market for the fifth consecutive session, Sensex rose 511 points
For the fifth consecutive season, major stock market indices were able to close the green mark. The market is supported by buying in banking and financial stocks. All other indices were faster than FMCG and Nifty Pharma indices.
The BSE Sensex lost 511 points, or 1.37 per cent, to close at 37,930. Meanwhile, the Nifty 50 index gained 140 points or 1.27 percent to end at 11,162. The BSE midcap is covered in red, while the short code is covered in green.
The Nifty Pharma index fell by one and a half percent on Tuesday and the FMCG index by one percent. Financial services, state-owned banks, realty and private banking indices rose by two percent. The vehicle index rose 1.75 percent.
Shares in the drugs index failed. Among public sector banks, Bank of Maharashtra grew by 12 per cent. Only two private banks failed. Suntec shares rose 9 percent in the realty index. The Pyramid Enterprises Financial Services Index gained 10 percent.
32 stocks in the Nifty 50 index went green, while 18 stocks ended the day with a red mark. The Sensex gained 19 points and 11 stocks declined. On the BSE, 1,443 shares advanced and 1,243 stocks softened.
Bajaj Finance's profit fell 19% in first quarter, shares fell 5%
In the first month (April to June), Bajaj Accounts saw a steep decline in revenue. During this period, the company's revenue declined by 19.40 percent (year-on-year) to Rs 962.32 crore. The company had a net profit of Rs 1,195.25 crore in the June quarter last year.
The effect of the financial results is shown in the shares of the company. Shares of the company fell 4.5 per cent to Rs 3,285 at 3 pm.
The lock continued for most of the quarter due to the corona virus. The company said it was unable to add any new customers due to the lockout and had recovery issues from older customers. On the other hand, the company's total asset management increased 7 percent to Rs 1,38,055 crore.
The total book volume of the non-bank financial institution stood at Rs 21,705 crore (15.7 per cent of the total AUM) as on 30 April, Rs 38,599 crore (27 per cent of the total AUM). Collection rates improved during this period.
In June, the company made an emergency arrangement of Rs 1,450 crore in view of Corona, after which the total allocation reached Rs 2,350 crore on 30 June. The company said it had arranged a 10.8 percent moratorium book loan.
As on June 30, the company's total cash flow was Rs 17,700 crore, against Rs 20,590 crore. Its total and net NPAs were 1.40 percent and 0.50 percent, respectively, as against 1.60 percent and 0.64 percent in the previous year.
However, during this period, the new credit book declined 76 per cent from Rs 72.7 lakh to Rs 17.5 lakh in the same quarter last year. In another statement, the company said that its current chairman Rahul Bajaj may resign by the end of this month.
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