Indices at previous closing
Nifty50: 17,945 ▲+50 (+0.2%)
Sensex: 60,135 ▲+76 (+0.1%)
Nifty Bank: 38,293 ▲+518 (+1.3%)
For more updates on F&O, click here.
In the news
ICRA downgrades auto parts growth estimate
Ratings agency ICRA has downgraded the growth forecast for the auto component industry, citing the impact of semiconductors shortage on OEM revenues and exports. It now expects the industry to grow at 17-20% this fiscal, a downgrade by 300 basis points.
Further, it also expects the sector’s operating profit margin to decline compared to last year due to weak June quarter performance. Meanwhile, shares of major auto ancillary companies Bharat Forge (+4.5%), Motherson Sumi (+1.5%), Amara Raja (+1.4%) rose yesterday.
Sunteck rises on robust Q2 update
The Mumbai-based real estate developer reported a 36% year-on-year rise in its sales bookings at ₹272 crore for the quarter-ended September.
With projects across the pricing range in Mumbai, the company said it is confident of maintaining the strong growth in pre-sales. This would be driven by new launches as well as ready-to-move-in inventory. While shares of Sunteck Realty (+3.0%) were up, buying interest was seen in other Mumbai-based realtors such as Oberoi Realty (+5.0%) and Macrotech Developers (+2.0%).
Saregama India gains on strong Q2 results
Shares of India's oldest music company were locked at 5% upper circuit as it reported a 34% year-on-year jump in its September quarter revenues to ₹145.1 crore. Its consolidated net profit rose nearly 17% to ₹33.8 crore.
With the easing of lockdowns, sales of music player Carvaan grew 27%. Interestingly, its revenues from its newer business viz. film and TV serial production and publishing rose 200% and now contribute about 16% of total revenues.
Sectoral indices (October 11)
| Top gainers | Top losers |
| Nifty Auto ▲ 2.6% | Nifty IT ▼3.3% |
| Nifty Realty ▲ 1.7% | N/A |
Global markets (at 10:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼0.1% |
| Nikkei 225 (Japan) | ▼1.0% |
| Hang Seng (Hong Kong) | ▼1.0% |
| SSE Composite (China) | ▼1.0% |
| Dow Jones (US) (October 11) | ▼0.7% |
| NYSE (US) (October 11) | ▼0.5% |
| Nasdaq (US) (October 11) | ▼0.6% |
| S&P 500 (US) (October 11) | ▼0.6% |
Fact of the day
The United States equity markets accounts for 59% of the global market capitalisation.
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