Indices at previous closing
Nifty50: 18,113 ▼195 (-1.0%)
Sensex: 60,754 ▼554 (-0.9%)
Nifty Bank: 38,210 ▼5 (-0.0%)
For more updates on F&O, click here.
Tata Elxsi posts robust Q3 performance
In the December quarter, the design and technology service provider’s net profit rose 20% quarter-on-quarter to ₹151 crore. In the same period, the revenue rose by about 7% to ₹635 crore.
This strong growth was driven by the embedded product design division, which grew 9% sequentially. The management said that it is witnessing significant growth in the automotive market, with large and strategic deals. Meanwhile, shares of Tata Elxsi were down 0.2% but the results were announced after the market hours.
AGS IPO opens for subscription
After a record 2021, the IPO party is all set to continue this year. The omnichannel payment solution provider AGS Transact Technologies (AGS) will launch its ₹680 crore IPO today. The price band for the public issue is between ₹166 and ₹175 per share.
AGS is the second largest company in India in the ATM management services market and one of the largest deployers of point of sale terminals at fuel outlets in India. To apply for this IPO, click here.
Oil prices at a 7-year high
The oil is on boil again as prices hit their seven-year high amid supply concerns. The attacks in the Middle East have raised geopolitical risk and the possibility of oil supplies further tightening.
Besides this, some members of OPEC+ are finding it difficult to produce oil up to the allowed capacity. Experts estimate that inventories in Organisation for Economic Co-operation and Development countries could fall to their lowest since 2000, pushing oil prices higher from current levels.
Sectoral indices (January 18)
| Top gainers | Top losers |
|
NA |
Nifty Realty ▼ 2.6% |
|
NA |
Nifty Auto ▼ 2.3% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.0% |
| Nikkei 225 (Japan) | ▼ 1.8% |
| Hang Seng (Hong Kong) | ▲ 0.3% |
| SSE Composite (China) | ▼ 0.0% |
| Dow Jones (US) (January 18) | ▼ 1.5% |
|
NYSE (US) (January 18) |
▼ 1.5% |
| Nasdaq (US) (January 18) | ▼ 2.6% |
| S&P 500 (US) (January 18) | ▼ 1.8% |
Fact of the day
McDonald’s helped the popular American restaurant chain Chipotle grow from 14 locations to around 500 between 1998 and 2006. However, it sold its majority stake, calling it a “distraction”.
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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.
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