Indices at previous closing
Nifty50: 16,238 ▼ 56 (-0.3%)
Sensex: 54,277 ▼ 215 (-0.3%)
Nifty Bank: 35,809 ▼ 25 (-0.0%)
In the news
Two IPOs to open today
The IPO party continues this week on the D-street with two more IPOs set to open for subscription today. The multichannel auto platform CarTrade Tech, which operates various brands including CarWale and BikeWale, will launch a ₹2,999 crore IPO today. The price band for the issue is ₹1,585-₹1,1618.
Also, India’s fifth largest cement maker Nuvoco Vistas Corporation’s IPO will be open for subscription today. The price band for the ₹5,000 crore issue is ₹560-₹570. You can apply for these IPOs here.
Divi’s Lab reports strong Q1 profit
The Hyderabad-based pharma major reported a net profit of ₹552 crore in the June quarter, up 12% year-on-year. The company’s healthy profit growth was aided by a double-digit rise in total revenue and forex gain.
The company’s total revenue grew around 15% YoY to ₹1,986 crore. It also made a forex gain of ₹20 crore in June 2021. Shares of Divi’s Lab were flat on Friday but the results were announced on Saturday. So far this fiscal, its shares have risen 35%, nearly double the rate at which Nifty Pharma has gained.
Nalco sees strong demand in Q1
In Q1FY22, India’s leading aluminium producer reported a net profit of ₹347 crore, a sharp jump over the low base of ₹16 crore in Q1FY21. In the same period, the company’s revenue also rose 79% year-on-year to ₹2,474 crore.
The company said that the sharp rise in revenue was driven by strong demand, higher volumes, better realization and effective capacity utilization. Shares of Nalco were down 2% on Friday but the results were announced post market hours.
Sectoral indices (August 6)
| Top gainers | Top losers |
| Nifty IT ▲ 0.3% |
Nifty Media ▼ 0.9% |
| Nifty Private Bank ▲ 0.2% |
Nifty Realty ▼ 0.9% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) |
▲ 0.3% |
| Hang Seng (Hong Kong) |
▼ 0.1% |
| SSE Composite (China) | ▼ 1.7% |
| Dow Jones (US) (August 6) |
▲ 0.4% |
Fact of the day
Chinese Consumers spent a whopping $127 billion (equivalent to the annual GDP of Kuwait) during the Lunar New Year week (11–18 Feb) in 2021.
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