ABFRL’s robust recovery

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Indices at previous closing

Nifty50: 16,240 ▼ 19 (-0.1%)
Sensex: 54,318 ▼109 (-0.2%)
Nifty Bank: 34,163 ▼ 138 (-0.4%)


For more updates on F&O, click here.


Good morning, people!

Yesterday, the bears woke up from a slumber at the end of the trading session, and dragged the markets lower. But today is another day. So let’s start the day afresh with some top stories.


⭐ ABFRL’s Fashion-able recovery 👗

Aditya Birla Fashion and Retail (ABFRL) witnessed robust demand recovery in the March quarter. The company's revenue rose 25% over the pre-pandemic levels and in comparison to the same quarter last year. Its revenue stood at ₹2,282 crore in Q4FY22. This helped the company turn a profit of ₹31.9 crore, compared to a net loss of ₹195.8 crore in the same period a year ago.

 

The perfect blend ⛽

The cabinet has approved rescheduling of the target for blending 20% ethanol in petrol. The initial deadline of 2030 has now been advanced to 2025-26. With this move, the country aims to increase the production of biofuel and reduce import of petroleum products. About 10% ethanol is blended in petrol currently.   

 

⭐ Economic revival on track 😎

Global financial intelligence and analytics company Moody’s Analytics has said that India’s economy is on the right track post the pandemic. It added that it doesn’t expect the Russia-Ukraine conflict to impact the recovery. The analytics company expects India’s real GDP to grow 8.2% in the current fiscal year.


Sectoral indices (May 19)

Top gainers Top losers
FMCG

▲ 1.2%

Realty

1.7%

Pharma

▲ 1.0%

PSU Bank

1.5%

 

Global markets (at 7:30 AM today)

Indices Today's movement
SGX Nifty 2.0%
Nikkei 225 (Japan) 2.5%
Hang Seng (Hong Kong) 3.4%
SSE Composite (China) 0.9%
Dow Jones (US) (May 18) 3.5%
NYSE (US) (May 18) 3.2%
Nasdaq (US) (May 18) 4.7%
S&P 500 (US) (May 18) 4.0%

Fact of the day

Two-wheeler owners can buy only ₹200 worth of fuel a day in Tripura.

Source: CNBC


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Disclosures and Disclaimer

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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