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Adani Enterprises withdraws its FPO

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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

Categories: Morning Update