Good morning!
Here are the top stories to start your day.
⭐ Cipla’s profit rises
The pharma company’s net profit rose 9.9% YoY to ₹801 crore. This growth was supported by a 6% rise in the revenue to ₹5,810 crore. The management said that the company’s Q3FY23 performance reflects sustained momentum in core One-India and US businesses.
⭐ Pidilite posts subdued Q3 results
In the December quarter, Fevicol maker’s net profit declined 14% YoY to ₹307 crore. In the same period, the company’s net sales rose 5% to ₹2,987 crore. The management observed that while the input prices have moderated, this is yet to reflect in the gross margins (profitability) as the company is consuming high priced inventory in this quarter.
⭐ Adani FPO opens today
Adani Enterprises’ ₹20,000 crore Follow-on Public Offer (FPO) will open for subscription today. The company plans to use the FPO proceeds for investing in the business and paring debt. Click here to apply for the FPO on Upstox.
Global markets (at 8:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.31% |
| Nikkei 225 (Japan) | ▲ 0.07% |
| Hang Seng (Hong Kong) | ▲ 0.10% |
| SSE Composite (China) | ▲ 0.75% |
| Dow Jones (US) (January 26) | ▲ 0.61% |
| NYSE (US) (January 26) | ▲ 0.44% |
| Nasdaq (US) (January 26) | ▲ 1.76% |
| S&P 500 (US) (January 26) | ▲ 1.10% |
Fact of the day
Gmail was launched on April fool's day in 2004. Hence, many thought it was a joke.