Morning Update for 21 September 2021

Indices at previous closing

Nifty50: 17,396 ▼-188 (-1.0%)
Sensex: 58,490 ▼-524 (-0.8%)
Nifty Bank: 37,145 ▼-666 (-1.7%)

For more updates on F&O, click here.

In the news

Nestle India warns of higher commodity prices

The management of the leading fast-moving consumer goods company expects commodity prices to rise in 2022, as per reports. It estimates that the next year would be difficult as the prices of raw materials such milk, coffee, oil and cocoa are likely to be higher. 

However, the management also expects the demand to pick up going forward, especially, the metros could see a strong recovery. Meanwhile, shares of Nestle India were up 0.7% on Monday and have risen over 4% so far this month. 

Paras Defence opens for subscription

The IPO party continues on the D-Street. Paras Defence will launch its ₹171 crore IPO today with a price band of ₹165-₹175 per share.

The company designs, develops, manufactures and tests a wide range of defence and space engineering products and solutions. This IPO will be open for subscription till 23 September. You can subscribe to this IPO on Upstox by clicking here. 

Lupin falls on USFDA observations

Shares of pharma major fell on Monday after the company said that it has received seven observations from US Food and Drugs Administration (USFDA) for its Goa facility. However, the management has said that it is confident of addressing the observations. 

Experts believe that these observations on the Goa facility, which has been under the regulatory glare, can hurt investor sentiments. However, the impact of this on the revenue is not expected in the near term. Meanwhile, shares of Lupin were down 2.1% yesterday. 

Sectoral indices (September 20)

Global markets (at 8:00 am)

Fact of the day

The global video game industry is worth around $300 billion, which is more than movies and music combined.  

Source: Accenture.com

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Investment in securities markets is 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.