Morning Update for 9 February 2022

Indices at previous closing

Nifty50: 17,266 ▲53 (+0.3%)

Sensex: 57,808 ▲187 (+0.3%)

Nifty Bank: 38,028 ▲33 (+0.0%)

For more updates on F&O, click here.

Airtel misses street estimates

The telecom major's net profit for the December quarter declined 2.8% YoY to ₹803 crore. This was lower than the street estimate of ₹1,220 crore. However, the company's revenue rose 12.6% YoY to ₹29,867 crore.

This strong growth in the top line was driven by tariff hikes, along with 4G customer addition. The company said that the full impact of revised mobile tariffs will be visible in the fourth quarter. Its average revenue per user (ARPU) rose 11.6% to ₹163. The stock closed flat, but the results were announced after market hours.

IRCTC delivers triple-digit profit 

The catering and tourism arm of the Indian Railways reported a 166% YoY growth in net profit to ₹208 crore. Its revenue also soared to ₹540 crore, up 141% YoY. 

This sharp rise in the bottom line was aided by a strong growth in revenues from all its segments. The company’s e-ticketing revenue rose 118%. Its catering services revenue grew 113% YoY, while the tourism segment's revenue surged 353% YoY. Shares of IRCTC were up 0.3%, but the results were announced after market hours.

Adani Wilmar beats volatility

Shares of Adani Wilmar listed at a discount of 1% against their issue price of ₹230. However, after making its debut, the stock closed 16% higher. 

Meanwhile, the public issue of Manyavar owner Vedant Fashions was subscribed 2.57 times on the final day, led by institutional investors.

Sectoral indices (February 8)

Global markets (at 8:00 am today)

Fact of the day

More than 2,250 startups were added in the year 2021, over 600 more than the previous year.

Source: TOI

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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.