Good morning!
Here are the top stories to start your day.
For more updates on F&O, click here.
⭐ Airtel posts strong results
Bharti Airtel reported a 21.9% year-on-year (YoY) rise in its consolidated revenue at ₹34,527 crore during the September quarter. Meanwhile, its net profit jumped by 89.1% YoY to ₹2,145 crore. During the quarter, the average revenue per user (ARPU) increased to ₹190 as compared to ₹153 in the same period last year.
⭐ Tata Steel’s profits fall
Tata Steel reported an 87% YoY drop in its consolidated net profit at ₹1,514 crore during the September quarter. Meanwhile, its revenue from operations was at ₹59,877 crore, down 0.8%YoY. Decline in realisations amid the global meltdown in commodity prices coupled with high input costs dented the company’s margins and profitability.
⭐ Core sector output grows by 7.9%
The Index of Eight Core Industries (ICI) grew by 7.9% in September 2022, as compared to 5.4% in the year-ago period. The ICI is a measure of production performance in the country’s eight core industries like coal, crude oil, fertilisers, steel and others. The eight core industries account for 40.2% of the weight of items included in the index of industrial production (IIP), which is the indicator of the industrial output in the country.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.68% |
| Nikkei 225 (Japan) | ▲ 0.21% |
| Hang Seng (Hong Kong) | ▲ 3.32% |
| SSE Composite (China) | ▲ 1.48% |
| Dow Jones (US) (October 31) | ▼ 0.39% |
| NYSE (US) (October 31) | ▼ 0.4% |
| Nasdaq (US) (October 31) | ▼ 1.03% |
| S&P 500 (US) (October 31) | ▼ 0.07% |
Fact of the day
India’s fiscal deficit was at ₹6.1 lakh crore or 37.3% of the full-year target during April-September 2022.
Source: Economic Times