Further, the data also shows that FMCG companies trade at a much higher valuation than that of their sales. Like, Hindustan Unilever, Dabur India and Emami get up to eight times more valuations in comparison to their sales.

Indian markets might witness a soft start but an important event of the day is that Prime Minister Narendra Modi is likely to meet Finance Minister Nirmala Sitharaman to finalise a second stimulus package. The market participants will be all eyes & ears to this event as it could dictate the future trend of the market.

The index is heading towards the important resistance level of 9,390-9,400 and if Nifty fails to cross this level, the bears will come back with full strength. Stocks in news: Indian Hotels, Kingfa Science & Technology, M&M, L&T.

The stock of Infosys Limited has given a symmetrical triangle breakout on the daily time frame. This breakout was confirmed by the above 50-day average volume. 

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The project size is of nearly 0.3 million sq. ft. The commencement of leasing agreement was expected in the current quarter, which too can be seen being delayed thus, impacting its long-term revenue guidance.

Vodafone Group announced that it has accelerated payment of US$ 200 million to Vodafone Idea, which was due in September 2020, mainly to tide over any liquidity crisis arising out of COVID-19 pandemic.

On Thursday as well, Sensex and Nifty closed in green, thus witnessing second consecutive day of recovery post the downfall experienced by Indian benchmark indices on April 21, 2020. Today, Sensex closed up by 1.54 per cent which is 483.53 points at the level of 31,863.08 while, Nifty climbed by 1.38 per cent which is 126.60 points to the level of 9,313.90.  

According to the report, in Q3 FY2020, the revenue of ICRA’s sample of 12 large logistics players had declined by 2.6 per cent YoY, as compared to a growth of 18.6 per cent in Q3 FY2019 and 1.9 per cent in Q2 FY2020, in-line with the continued moderation in GDP growth, which hit 27-quarter low of 4.7 per cent, leading to a subdued freight availability. 

The market opened in the green on April 23, 2020. The previous trading session witnessed the Sensex going up by 2.4 percent to end at 31,379 and the Nifty was up 2.3 percent to close at 9,187.