Indices at 10:30 am
▲ Nifty 12,732 (0.81%) ▲ Sensex 43,582 (0.70%)
▲ Nifty Midcap 100 18,153 (0.81%) ▲ Nifty Smallcap 100 5,923 (0.82%)
Tata Power
- Tata Power’s consolidated Q2 revenues increased by 15% YoY to ₹8,413 crore and the net profits rose by 10% YoY to ₹371 crore.
- The company mentioned that the increase in revenue was mainly due to the acquisition of TPCODL (TP Central Odisha Distribution Ltd) and higher solar EPC (engineering, procurement and construction) revenue.
- The stock is up 2.3% today.
Bata India
- Bata India reported a ~50% YoY drop in Q2 revenues to ₹367.8 crore. Consequently, it suffered a net loss of ₹44.3 crore versus a net profit of ₹71.3 crore in the year ago period. In Q1, it reported a net loss of ₹100.8 crore.
- The stock is down nearly 2% today.
Covid cases
- Active Covid cases in India dropped below 5 lakh for the first time since July 28. The drop in active cases is due to a reduction in fresh cases and higher number of recoveries.
- Meanwhile, cases in the US and Europe are increasing rapidly.
NDA wins in Bihar
- The incumbent NDA won a clear majority in Bihar with 125 seats, three more than the halfway mark needed for a victory.
- While the US presidential election hogged the limelight and market attention, the expected result in the Bihar elections means there are no surprises for the markets on that front.
Global markets
- Key Asian markets are trading in the green today as the Japanese Nikkei 225 rose strongly (+1.7%), while China’s SSE Composite (+0.1%) and Hong Kong’s Hang Seng Index (+0.1%) are nearly flat.
Events today
Earnings expected from Coal India, Power Grid and Shree Cement
Fact of the day
Back in 2001, Pizza Hut became the first restaurant chain to deliver to space. The pizza was sent to the International Space Station (ISS) onboard a resupply rocket.
Source: Business Insider
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Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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