Good morning, people!
It seems like the bears have found their footing in the market. Only two days remain before we say hello to the weekend. So, until then, keep calm and take some time-off from crunching numbers. Here are the top stories to start your day.
For more updates on F&O, click here.
⭐ Coal India turns up the heat 😎
Mining giant Coal India posted profit growth of 46% year-on-year (YoY). Its consolidated net profit stood at ₹6,715 crore in Q4. Consolidated revenues for the company jumped 22.5% YoY and stood at ₹32,706 crore. The growth was supported by an increase in volumes.
⭐Whirlpool profits get washed away 🌀
Whirlpool of India, the maker of washing machines and refrigerators, has reported a 35% year-on-year decline in Q4 net profits to ₹84.4 crore. The company’s profits dropped despite a marginal drop in total expenses. Revenues were also down by 4% in the quarter to ₹1,706 crore.
⭐On a paper trail 🗋
Indian paper and paperboard exports jumped nearly 80% in FY 21-22. According to the Indian Paper Manufacturers Association, the exports touched a record high of ₹13, 963 crore. These exports to UAE, China, Saudi Arabia, Bangladesh, Vietnam, and Sri Lanka, have been on a rise since the last 5 years. In terms of volume, the exports have hiked four times to 2.85 million tonnes since FY17.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.3% |
| Nikkei 225 (Japan) | ▼ 0.05% |
| Hang Seng (Hong Kong) | ▼ 1.1% |
| SSE Composite (China) | ▼ 0.5% |
| Dow Jones (US) (May 25) | ▲ 0.6% |
| NYSE (US) (May 25) | ▲ 0.5% |
| Nasdaq (US) (May 25) | ▲ 1.5% |
| S&P 500 (US) (May 25) | ▲ 0.9% |
Fact of the day
Reliance Jio is running a pilot of using drones for tower surveillance and their upkeep, ahead of its 5G launch.
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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.