Indices at previous closing
Nifty50: 16,258 ▲20 (+0.1%)
Sensex: 54,402 ▲125 (+0.2%)
Nifty Bank: 36,028 ▲219 (+0.6%)
In the news
MRF’s profit soars in Q1
The Chennai-based tyre manufacturer’s net profit jumped to ₹165 crore in Q1FY22 from ₹13.4 crore in Q1FY21. The sharp growth in profit was led by a strong rise in revenue.
The company’s revenue from operations rose by 70% year-on-year to ₹4,183 crore on the low base of June 2020. The company’s EBITDA margin dropped by 11.8% in June 2021 from 13.5% in June 2020 due to higher other expenses. Shares of MRF were up 0.9% today.
Sona BLW Q1 profit surges
Auto component maker, Sona BLW precision posted 266% year-on-year growth in revenue which stood at ₹501 crore in the June quarter. During the same period, the company also recorded a net profit of ₹82 crore versus a loss of about ₹50 lakhs last year.
The revenues from its Battery EV segment grew rapidly and contributed around 20% of total revenues, from about 14% in FY21. The order book stands at ₹14,000 crore, which is about 9 times its FY21 revenues. Interestingly, 57% of the orders are from the EV segment. Yesterday, the shares of the company jumped 18%.
Indian Hotels’ loss marginally narrows
The Tata-owned hospitality company reported a net loss of ₹277 crore in the June quarter compared to a loss of ₹280 crore in the same period last year. The reduction in loss was marginal even as the company’s revenue rose by 111% year-on-year to ₹370 crore
Last year’s performance was cushioned by an ₹82 crore gain arising out of acquiring controlling stake in a joint venture. Meanwhile, the company said that domestic leisure demand improved in July and bookings for August looked promising. Shares of Indian Hotel were down 0.4% but the results were announced after market hours.
Sectoral indices (August 9)
| Top gainers | Top losers |
| Nifty Media ▲ 1.0% | Nifty Metal ▼ 1.8% |
| Nifty Private Bank ▲ 0.6% | Nifty PSU Bank ▼ 1.5% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.2% |
| Hang Seng (Hong Kong) | ▼ 0.2% |
| SSE Composite (China) | ▼ 0.4% |
| Dow Jones (US) (August 9) | ▼ 0.3% |
Fact of the day
Over 300 licensed versions of Monopoly games are currently available across the world, sold by Hasbro.
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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.