Good morning, people!
Yesterday was the first day this week that markets closed in the green. Anyway, the earnings season is near its end, and investors are keenly looking out for the last few results. Here are the top stories to kick-start your day.
For more updates on F&O, click here.
⭐ Tata Power gets solar boost🌞
Tata Power Renewable Energy, the renewables arm of Tata Power, has commissioned a 100 MW solar project for the Maharashtra State Electricity Distribution Company. The project is spread across 600 acres of land and was completed in 3.5 months. It will reduce about 234 million tonnes of carbon dioxide annually.
⭐ Coal India to divest stake in BCCL 🤔
Mining giant Coal India is planning to divest 25% stake in its unlisted subsidiary Bharat Coking Coal Ltd (BCCL). The company will also go for the listing of BCCL on the exchange after getting clearances. During FY21, the net turnover of BCCL was ₹6,149 crore as compared to ₹8,967 crore in the previous year.
⭐ Colgate-Palmolive’s profits get a lift 👍
FMCG major Colgate-Palmolive posted a 3% year-on-year (YoY) jump in its net profit at ₹323 crore. Company’s revenue rose by a mere 1.3% to ₹1,293 crore. The management said despite macro challenges and lower consumption, the company was able to deliver balanced growth in the toothpaste category.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.5% |
| Nikkei 225 (Japan) | ▲ 0.6% |
| Hang Seng (Hong Kong) | ▲ 2.9% |
| SSE Composite (China) | ▲ 0.7% |
| Dow Jones (US) (May 26) | ▲ 1.6% |
| NYSE (US) (May 26) | ▲ 1.3% |
| Nasdaq (US) (May 26) | ▲ 2.6% |
| S&P 500 (US) (May 26) | ▲ 1.9% |
Fact of the day
Mobile gaming is expected to grow at 1.7x speed and clock more than $136 billion in revenues in 2022.
Source: The Economic Times
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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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