Here are Market’s highlights

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stock market: These 100 stocks are defying market trend, ready to rally

After yesterday’s big fall, the markets ended up around 0.7% today. The Supreme Court’s order on AGR lifted the spirits of the markets and sent Airtel up by more than 7%.

Top gainers: Bharti Airtel, Bajaj Finance, Asian Paints, Tata Steel

Top losers: ONGC, Axis Bank, Tech Mahindra, Infosys

Q1 Results Corner: ONGC Reports Profit in Q1 Vs Loss in Q4

ONGC reported a net profit of Rs 495.97 crores in the June-ended quarter. This is a drop of almost 91.7% from the previous year's quarter.

However, sequentially, the numbers have improved because the company reported a loss of Rs 3,098.26 crores in the January to March quarter.

Total revenue halved in the quarter under review from a year-ago period. Revenue stood at Rs 13,448.11 crores, a 50.6% drop from the previous fiscal's Q1.

Shares of the company settled 3.29% lower at Rs 79.35 per share. Results were announced after market hours.

August Auto Sales: Maruti Suzuki, Hero Moto, M&M & More

Auto sales numbers were announced today. Here are a few highlights from some of the top listed auto companies:

Maruti Suzuki:
Maruti Suzuki posted total sales of 1.24 lakh units in August 2020. This is a growth of 15.3% over July 2020 and 17.1% over August 2019. This includes domestic sales and exports.

Total domestic sales were up 20.2% to 1.16 lakh units over a year.

The exports dropped 15.3% over August 2019 to 7,920 units.

Shares of the company settled 1.08% higher at Rs 6,911.6 per share.

Hero MotoCorp
Hero Moto sold 5.84 lakh units of motorcycles and scooters in August 2020. This is a growth of 7.55% over August 2019 and a growth of 13% over July 2020.

Exports fell for the company. The company exported 15,782 units in August 2020 as compared to 19,403 in August 2019.

Shares fell 0.39% to Rs 2,995.25 per share.

Eicher Motors
Total sales fell 5% year-on-year to 50,144 units in August 2020.

Exports fell by 38% to 2,573 units.

The shares of the company rose 1.83% to Rs 2,131.6 per share.

Ashok Leyland (Domestic+Export)
Total sales of Ashok Leyland Ltd. fell 31% year-on-year to 6,325 units in August 2020.

Truck sales fell 36% year-on-year to 2,276 units.

Bus sales fell 83% year-on-year to 313 units.

Shares of the company settled 1.92% higher at Rs 68.9 per share.

Mahindra and Mahindra Ltd.
M&M's total sales (domestic+exports) stood at 30,426 units in August 2020. This is a decline of 16%.

Total exports fell 54% year-on-year to 1,169 units.

Shares of the company rose 0.42% to Rs 609.05 per share.

AGR Relief for Telcos; Airtel Stock up 7% 

The Supreme Court finally delivered its final order on the AGR dues matter.

According to the order, the companies will be allowed a period of 10 years to pay back the AGR dues starting from the 1st of April 2021. 10% of the total needs to be paid upfront on the 7th of Feb 2021.

The court also made clear that there would be no revaluation of the AGR dues.

Following this, stocks of Airtel were up over 7%.

Vodafone-Idea’s stocks were down around 14% ending the day at Rs 8.80 per share. This price is still much higher than the rock-bottom prices the stock had touched a few weeks ago.

Indian Manufacturing Picks Up - First Time in 5 Months

The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose to 52 in August. This is in comparison to 46 in July 2020.

A number below 50 indicates contraction in manufacturing while a number above 50 indicates growth.

This growth comes at a time when GDP contraction for a given quarter is the lowest in decades at 23.9%.

This growth in manufacturing comes from domestic demand which is picking up as the country opens up further after the stringent lockdowns.

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