Nifty50: 18,044 ▼-24 (-0.1%)
Sensex: 60,433 ▼-112 (-0.1%)
- After a gap up opening, the markets drifted downwards.
- The market breadth was evenly split as 25 of Nifty50 stocks ended in the red
| Top gainers | Today's change |
| M&M | ▲ 5.2% |
| Tata Motors | ▲ 1.9% |
| Hero Motocorp | ▲ 1.2% |
| Top losers | Today's change |
| Britannia | ▼ 2.6% |
| HDFC Bank | ▼ 1.7% |
| HDFC | ▼ 1.3% |
For more updates on F&O, click here.
Here are the top stories of the day.
M&M profit soars in Q2
In the September quarter, the auto major’s standalone net profit surged 783% year-on-year to ₹1,432 crore. In the same period, the revenue also rose 15% to ₹13,305 crore. The robust performance in Q2 was supported by strong growth in exports in auto and farm segments.
However, the management said that the rising commodity prices impacted margins in the both segments. Also, the semiconductor shortage impacted production again. Going ahead, the management hopes to maintain the volume growth momentum with better availability of semiconductors.
TVS Motor may raise funds
According to reports, the Chennai-based two-wheeler manufacturer is examining the possibility of raising funds for its electric mobility business. In the wake of this report, the stock rose 14% intraday. However, the management has clarified that no such negotiation is taking place.
The company, reportedly, is open to inducting a private equity player as a partner and may raise $500 million to $1 billion. The stock, however, saw profit booking and closed 2.5% higher.
Retail investors flock towards Paytm
On day 2, the IPO of One97 communications, which is the parent company of Paytm, was subscribed 48%. The public issue has received strong interest from retail investors with the retail portion being fully subscribed.
Meanwhile, on day 1, the public issue of Sapphire Foods, which is the franchise operator of KFC, Pizza Hut and Taco Bell, was subscribed 49%. Also, Latent View Analytics’ IPO will open for subscription from tomorrow. You can apply for IPOs on Upstox.
Closing bell
Markets were range bound today, indicating indecision after the recent bounce back. Index-heavyweight sectors such as IT and banks witnessed profit booking. Meanwhile, inflation and industrial production numbers will be released on Friday and there could be volatility ahead of the releases.
Good to know
What is net profit margin?
The net profit margin, also known as net margin, is the ratio of a company’s net profit to revenue. This is an important metric as it reveals how much of the company’s revenue is getting translated into profit. This also shows whether the management of the company is able to contain its operating and overhead costs. Usually, expansion of net profit margin is a good indicator for a company.
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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.