Indices at previous closing
Nifty50: 17,339 ▲237 (+1.3%)
Sensex: 58,014 ▲813 (+1.4%)
Nifty Bank: 37,975 ▲285 (+0.7%)
For more updates on F&O, click here.
Tata Motors’ bumpy Q3 drive
In the December quarter, the automaker reported a loss of ₹1,561 crore compared to a profit of ₹2,906 crore in the same period last year. The bottom line was dented by a rise in raw material costs and high finance expenses.
The company’s revenue declined 4.5% to ₹72,229 crore. The management said that the semiconductor supply issue is gradually improving but commodity inflation worries persist. Meanwhile, shares of Tata Motors were up 4.6% yesterday.
Sun Pharma shines in Q3
In Q3FY22, the pharmaceutical major posted a net profit of ₹2,058 crore, up 11% year-on-year. This was sharply higher than the street estimate of ₹1,720 crore. The rise in profit was aided by a 11% rise in sales to ₹9,814 crore.
The company’s India and emerging markets formulation segments reported strong double digit growth. The management said that it is focusing on topline growth and operational efficiencies along with expanding its presence in the global specialty space. Shares of Sun Pharma were up 0.8% but the results were announced after the market hours.
Adani Wilmar receives strong interest
On day 3, the IPO of Fortune edible oil maker was oversubscribed more than 17 times. The public issue received strong interest from non-institutional investors i.e. corporates and HNIs.
Meanwhile, the IPO party will continue this week. Vedant Fashions, which is known for its Manyavar brand, will launch its IPO on Friday. Click here to apply for IPOs on Upstox.
Sectoral indices (January 31)
| Top gainers | Top losers |
|
Nifty Realty ▲ 3.1% |
NA |
|
Nifty PSU Bank ▲ 2.9% |
NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.9% |
| Nikkei 225 (Japan) | ▲ 0.7% |
| Hang Seng (Hong Kong) | ▲ 1.0% |
| SSE Composite (China) | ▼ 0.9% |
| Dow Jones (US) (January 31) | ▲ 1.1% |
|
NYSE (US) (January 31) |
▲ 1.6% |
| Nasdaq (US) (January 31) | ▲ 3.4% |
| S&P 500 (US) (January 31) | ▲ 1.8% |
Fact of the day
Dabur was established in 1884 to manufacture healthcare products and then forayed into the Ayurveda space in 1900.
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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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