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Here are the top stories to start your day.
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⭐ Adani Enterprises withdraws its FPO
Adani Enterprises has decided to withdraw its fully subscribed ₹20,000 crore follow-on public offer (FPO). The move comes following unprecedented volatility in the company's shares. The FPO proceeds received from investors will be refunded.
⭐ Britannia reports robust numbers
Britannia Industries has reported a 151% YoY increase in consolidated net profit to ₹932 crore, while its sales grew by 16% YoY to ₹4,101 crore for the December quarter. As per the company, consistent rise in market share, investments in brands and innovation have helped register robust growth.
⭐ Strong monthly sales for auto cos
Market leader, Maruti Suzuki’s domestic passenger vehicle (PV) sales for January increased 13% YoY to 1.7 lakh units. The company cited that a shortage of electronic components has a minor impact on production. Meanwhile, Tata Motors’ PV sales rose 18% YoY to 48,289 units. SUV maker Mahindra & Mahindra, too, reported a 66% rise in its PV sales.
Global markets (at 9:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.78% |
| Nikkei 225 (Japan) | ▲ 0.16% |
| Hang Seng (Hong Kong) | ▲ 0.50% |
| SSE Composite (China) | ▲ 0.19% |
| Dow Jones (US) (February 01) | ▲0.02% |
| NYSE (US) (February 01) | ▲0.37% |
| Nasdaq (US) (February 01) | ▲ 2.00% |
| S&P 500 (US) (February 01) | ▲ 1.05% |
Fact of the day
Tesla reported impairment loss of $204 million from Bitcoin investment in 2022
Source: Business Standard