Indices at previous closing
Nifty50: 17,991 ▲+46 (+0.2%)
Sensex: 60,284 ▲+148 (+0.2%)
Nifty Bank: 38,521 ▲+227 (+0.5%)
For more updates on F&O, click here.
In the news
Tata Motors to raise capital for EV play
Nexon EV maker said that it is raising $1 billion (₹7,500 crore) from private equity player TPG Rise Climate for its passenger electric vehicle (EV) business. The capital will be raised at a valuation of $9.1 billion for its new subsidiary that will focus on the EV business.
The company has been chalking out plans to ramp its presence in the EV segment with launches of 10 electric car models over the next five years. Meanwhile, shares of Tata Motors rose 1.3% yesterday and have surged 26% this month.
It’s showtime for multiplexes in Maharashtra
The Maharashtra Government has released standard operating procedures for cinema halls that will be reopening from October 22. As per the SOP, the theatres will operate at 50% seating capacity. Reportedly, Maharashtra accounts for 25-30% revenue contribution for a Bollywood film.
With theatres in the state re-opening, big ticket movies like Akshay Kumar's Sooryavanshi, Ranveer Singh's 83 have announced their release dates. Pinning hopes on a strong recovery, shares of PVR (+1.1%) and Inox Leisure (+1.8%) rose yesterday.
Retail inflation cools off
With the decline in food inflation, India's retail inflation fell to a five-month low of 4.35% in September from 5.3% in August. As per the data released by National Statistical Office (NSO), the food inflation in the basket eased sharply to 0.68%, significantly down from 3.11% in the preceding month. Broadly, cooling inflation typically helps in keeping interest rates low.
Meanwhile, the Industrial production rose 11.9% in August on a year-on-year basis as against 11.5% in July. The growth came on the backdrop of low base effect and improved output from manufacturing, mining and power sectors that surpassed pre-covid levels.
Sectoral indices (October 12)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 3.0% | Nifty IT ▼0.8% |
| Nifty Media ▲ 1.4% | N/A |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.2% |
| Nikkei 225 (Japan) | ▼0.1% |
| Hang Seng (October 12) | ▼1.4% |
| SSE Composite (China) | ▼0.5% |
| Dow Jones (US) (October 12) | ▼0.3% |
| NYSE (US) (October 12) | ▲ 0.0% |
| Nasdaq (US) (October 12) | ▼0.1% |
| S&P 500 (US) (October 12) | ▼0.2% |
Fact of the day
Gold didn't originate on planet earth. Instead, it came from the meteorites that bombarded earth 200 million years after the planet formed.
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