On Wednesday, the Indian Indices ended on a progressive note with Nifty close at 9,314.95. Sensex also ends up with 996 points or 3 percent at 31,605. Among sectors, Nifty bank closed up by 7 percent, whereas Nifty pharma declined by 0.21 percent.
Around 1363 shares have advanced, 939 shares declined, and 163 shares remain unchanged. The top gainers comprised Axis Bank, ICICI Bank, Wipro, Grasim, and Bajaj Finance. Although, Sun Pharma, UltraTech Cement, Zee Entertainment, Titan, and Asian Paints were among the top losers. In addition, the Indian rupee ended marginally lower at 75.72 against the US dollar.
In the trading session companies such as Dabur and Sun Pharma reported their quarter-four profits. Sun Pharma became the top loser in the NSE after it ended low at 451. Till now 26 companies are said to have reported their fourth-quarter earnings for FY20.
Take a look at the Q4 results announced on May 27, 2020:
- Sun Pharma:
The multinational Pharmaceutical company reported a consolidated net profit of Rs. 399.8 crore for the fourth quarter ended in March. The company recorded a 37 percent Year-on-Year decline in its net profit against Rs. 635.9 crore in the same quarter last year. The firm met with a one-time loss of Rs. 206.6 crore in the current quarter.
The revenue for the fourth quarter resulted at Rs 8,184.9 crore as compared to Rs 7,163.92 crore in the quarter for FY19. Sun Pharma became the Nifty loser and closed at 450.90 with 8 points or 2 percent.
- Dabur India:
The consumer goods company in the fourth quarter ended in March reported a 24 percent decline in its consolidated net profit. The net profit stands at Rs 281.2 crore against Rs 370 crore in the same quarter last year. The consolidated revenue met with a low at 1,865.36 crore, 12.3% less against 2,128.19 crore reported by the consumer goods company last fiscal.
The firm’s business was widely hit owing to the nationwide lockdown caused by the COVID-19 outbreak. However, the company’s sales were up as customers bought Dabur Chyawanprash more than its other product, Dabur Honey.