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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Investment in securities markets are 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.