Previous closing (9 February 2021)
Nifty50: 15,109 ▼ 6 (-0.0%)
Sensex: 51,329 ▼ -19 (-0.0%)
Nifty Bank: 36,056 ▲72 (0.2%)
In the news
Tata Steel back in the black
- Tata Steel has turned its Q3 around by posting a net profit of ₹3,989 crore. It reported losses of ₹1,166 crore during the same period last year.
- The steel maker’s revenue went up about 11% to ₹39,594 crore during the same period on account of higher prices, recovery in demand and better product mix.The stock has risen nearly 16% in February.
Adani Ports posts robust Q3 profit
- Adani Ports and Special Economic Zone reported a 16% YoY increase in consolidated net profit to ₹1,576 crore in Q3. Meanwhile, its total operating profit rose 12% to ₹3,746 crore.
- The growth was driven by a 35% boost in the port business revenue. Its market share in the cargo volume rose to 28% from 22% last year. Shares of the company closed flat on Tuesday but have rallied about 14% so far this month.
Century Ply delivers record Q3 results
- Kolkata-based plywood maker reported record sales at ₹660 crore, up 9% YoY. Its consolidated profits surged to ₹65 crore compared to a profit of ₹37 lakh last year.
- After a weak Q1, it witnessed sharp recovery in Q2 and Q3, which was accentuated with aggressive sales strategies. The company has chalked a ₹200 crore capex for the expansion of its medium-density fibreboard (MDF) unit. The stock has gained 7% so far this month.
India to overtake EU in energy consumption
- The International Energy Agency expects India to become the world's third-largest energy consumer by 2030, overtaking the European Union.
- An expanding economy, population, urbanisation and industrialisation are the growth triggers. Post-Covid, India is expected to re-enter a very dynamic period in its energy development wherein, over the coming years, millions of households would buy new appliances, air conditioners and vehicles.
Events of the week
- Wednesday: Crude oil inventories (US)
- Thursday: Initial jobless claims (US)
- Friday: Consumer Inflation, IIP (India)
Sectoral indices (Previous closing)
| Top gainers | Top losers |
| Nifty Fin Serv ▲ 0.2% |
Nifty Media ▼ 1.8% |
| Nifty Bank ▲ 0.2% |
Nifty Auto ▼ 1.3% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.0% |
| Hang Seng (Hong Kong) | ▲ 1.5% |
| SSE Composite (China) | ▲ 0.5% |
| Dow Jones (US) (9 Feb) |
▼0.0% |
Fact of the day
In 2000, Blockbuster, a popular listed video rental service, turned down the offer to buy Netflix for $50 million. Today, Netflix is valued at nearly $250 billion and Blockbuster has shut down.
Source: Inc.com
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