Previous closing (11 February 2021)
Nifty50: 15,173 ▲ 66 (+0.4%)
Sensex: 51,531 ▲ 222 (+0.4%)
Nifty Bank: 35,752 ▼ 31 (-0.0%)
In the news
ITC's profit declines in Q3
- FMCG conglomerate ITC reported a 11% YoY decline in Q3 consolidated net profit to ₹3,587 crore despite a 6% YoY rise in revenues to ₹14,124 crore.
- All its business segments except FMCG-others witnessed a contraction in profits on a year-on-year basis. FMCG-others, which includes key brands such as Aashirvaad, Sunfeast and Savlon, saw a 92% YoY rise in PBIT supported by a better product mix and portfolio premiumisation.
- The stock has corrected 3% this week. However, it has gained 11% this month.
Ashok Leyland extends market share in Q3
- The Hinduja Group-owned commercial vehicle (CV) makerreported20% YoY rise in revenues to ₹4,814 crore, supported by a bounce back in CV volumes.
- It suffered a net loss of ₹19 crore mainly due to a one-time cost of ₹85 crore for its voluntary retirement scheme (VRS). The stock has gained an impressive 21% in February alone.
ACC announces bumper profit and dividend
- The cement major reported a 73% YoY surge in consolidated net profit to ₹472 crore. Meanwhile, revenue rose by a comparatively modest 2% to ₹4.1 crore during the same period.
- The rise in profit was driven by a superior product mix and cost efficiencies. Along with the strong results, the company also announced a dividend of ₹14 per share. The stock closed 0.5% higher yesterday, and has gained about 11% this month.
Airlines get boost with airfare limit hike
- Indian airlines have a reason to cheer. The government has raised the limits on domestic airfares by 10-30% for various flight durations. The new limits would be in force upto 31 March until further orders. The fare limits were set in May 2020.
- However, the 80% cap on airline capacity still remains. Meanwhile, shares of both Indigo and Spicejet are up 5% this month.
Events of the week
- Friday: Consumer Inflation, IIP (India)
Sectoral indices (Previous closing)
| Top gainers | Top losers |
| Nifty Metal ▲ 1.0% | Nifty PSU Bank ▼ 1.2% |
| Nifty FMCG ▲ 0.8% | Nifty Auto ▼ 0.4% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.2% |
| Hang Seng (Hong Kong) (11 Feb) | ▲ 0.4% |
| SSE Composite (China) (10 Feb) | ▲ 1.4% |
| Dow Jones (US) (11 Feb) | ▼ 0.0% |
Fact of the day
The average Starbucks customer goes to a store 6 times a month, but a loyal one visits 16 times a month!
Source: Eatthis
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