New Delhi: Markets opened on a high note on Wednesday after Prime Minister Narendra Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus to revive the economy.
The BSE Sensex jumped 637.49 points or 2.03 percent to close at 32,008.61. On the other hand the NSE Nifty closed at 9,383.55, down 187.00 or 2.03 points.
Here are the stocks in focus on May 14, 2020
Maruti
The country’s largest car maker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 percent decline in consolidated net profit to Rs 1,322.3 crore for the fourth quarter of 2019-20, on account of lower sales volume, higher promotion expenses and depreciation expenses.
The company had posted a net profit of Rs 1,830.8 crore in the January-March period of 2018-19, MSI said in a statement.
Realty, NBFCS
Sitharaman announced a slew of fiscal and regulatory measures for MSMEs, real estate, NBFCs, power distribution and general businesses.
The minister stated that the Union Ministry for Housing and Urban Affairs will issue advisory to states and Union Territories to declare the Covid-19 situation as a `force majeure` under the Real Estate (Regulation and Development) Act.
Besides MSMEs, a Rs 30,000 crore special liquidity scheme for non-banking finance companies (NBFCs), housing finance companies (HFCs) and micro-finance institutions (MFIs) was also announced.
Godrej Consumer
FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported an over 75 per cent drop in its consolidated net profit at Rs 229.90 crore in the fourth quarter ended March 2020, hit by disruptions in sales amid the COVID-19 outbreak.
