Sheela Foam: Slow Growth

Sheela Foam Ltd (SFL) makes and sells mattresses and home comfort products, such as pillows, cushions, bed sheets and comforters/blankets. It has a share of more than 23% of the organised mattress market. Well-known for its flagship brand ‘Sleepwell’, it also makes other foam-based technical grades of polyurethane foam (PU foam) for retail users’ consumption and industrial usage such as for...

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  • Nifty, Sensex Directionless – Thursday closing report
    The major indices ended with losses. On the NSE, there were 812 advances, 939 declines and 359 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    Persistent Systems expanded its partnership with Dassault Systèmes to strengthen digital transformation capabilities in Europe. The collaboration will help clients reduce costs, improve supplier collaboration, drive agility and gather better field insights, it said.
     
    HCL Technologies reported a 22.8% year-on-year (YoY) rise in consolidated net profit at Rs 3,154 crore compared with Rs 2,568 crore in the same quarter last year. Revenues rose 16.3% YoY to Rs 18,590 crore from Rs 15,990 crore reported in the year-ago quarter.
     
    GlaxoSmithKline Pte and Horlicks Limited sold 5.69% stake in HUL via block deals.
     
    YES Bank reported a net profit of Rs 2,629 crore for the March 2020 quarter, compared with a loss of Rs 1,507 crore in the corresponding period in the previous year. Excluding extraordinary income worth Rs 6,297 crore from write-down of Basel III compliant additional tier I (AT I) Bonds amounting to Rs 8,415 crore, the lender reported a loss from ordinary activities of Rs 3,668 crore in this quarter.
     
    RBL Bank reported 49.59% fall in net profits to Rs114.85 crore for the March quarter compared to Rs227.81 crore in the March 2019 quarter. Net interest income grew 24.03% YoY to Rs2,782.77 crore.
     
    Salasar Techno Engineering secured an order for construction of 220 and 66 KV Transmission lines in Yamuna Nagar & Ambala Area on turnkey basis received from Haryana Vidyut Prasaran Nigam Limited. The order size is Rs 28.65 crore and to be executed by August 2021.
     
    Solara Active Pharma reported a 32.3% fall in its Q4 consolidated net profit to Rs 17.8 crore against Rs 26.3 crore, YoY.
     
    SKF India reported 8.35% decline in net profits at Rs75.34 crore for the March 2020 quarter against Rs82.20 crore in March 2019 quarter. Revenues declined 15.55% YoY to Rs656.65 crore.
     
    Aster DM Healthcare’s subsidiary started providing RT-PCR confirmatory test service for COVID-19 in Bengaluru. Diagnostics subsidiary Aster Clinical Lab LLP has set up its pathology reference laboratory in that city.
     
    Sundram Fasteners has partially resumed operations in Tamil Nadu plants.
     
    Nath Bio-Genes acquired the portfolio of Fusion cotton seeds from Global Transgenes on an exclusive basis for a total consideration of Rs 11.94 crore.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
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    Nifty, Sensex record small gains as stocks of finance companies and banks stabilise – Wednesday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex were under pressure but may rise on global cues. The major indices ended with minor gains. On the NSE, there were 857 advances, 907 declines and 343 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
     
     
    The Delhi High Court allowed Bharti Airtel to claim a refund of Rs 923 crore on account of overpayed GST between July and September of 2017.
     
    NIIT Tech reported 11.4% jump in consolidated net profit to Rs 113.6 crore for the March 2020 quarter. Revenue grew 19% to Rs 1,109.3 crore in March quarter from Rs 931.9 crore in the year-ago period, it added. It declared a third interim dividend of Rs 11 per share. The stock was up 18.94%.
     
    Adani Enterprises reported a 63.57% decline YoY in consolidated profit to Rs 96.93 crore for the March 2020 quarter. Consolidated total income income for the quarter increased by 2% to Rs 13,698 crores as against Rs 13,473 crore during the year-ago period.
     
    Astec Lifesciences’ net profit jumped 145.13% to Rs 31.18 crore in the quarter ended March 2020 as against Rs 12.72 crore during the previous quarter. The stock was up 20%.
     
    ITC’s share price faltered by 6% after news broke that the Centre is reportedly looking to raise Rs 22,000 crore by selling its stake in ITC (7.94%) which it holds through the Specified Undertaking of the Unit Trust of India (SUUTI), in a bulk deal on the exchanges.
     
    Kansai Nerolac Paints reported 22.91% fall in net profits on a year-on-year basis to Rs67.22 crore, for the March 2020 quarter. Revenues fell 12.15% YoY to Rs1,083.91 crore.
     
    Bharat Dynamics received a Rs 293-crore order from the Indian Air Force. The order is towards the supply of MRSAM Missile Sections for Indian Air Force deliverables and has to be completed in the next 24 months.
     
    Persistent Systems reported a marginal decrease of 0.8% in net profit at Rs 83.82 crore for the quarter ended March 31, 2020. For the financial year 2019-20, the company reported revenues of Rs 3,565.80 crore, up 5.9%.
     
    Apollo Pipes promoter Sameer Gupta bought 1,25,000 shares in the company at Rs 309.98 per share.
     
    Shilpa Medicare has decided to establish a subsidiary each in Canada (North America) and Spain (Europe) for business operations.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
     
    The closing values of the major Asian indices are given in the table below:
     
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