Indices at previous closing
Nifty50: 17,374 ▼231 (-1.3%)
Sensex: 58,152 ▼773 (-1.3%)
Nifty Bank: 38,517 ▼493 (-1.2%)
For more updates on F&O, click here.
ONGC rides on rising oil prices
In Q3FY22, the state-owned oil and gas major’s profit soared 596% to ₹8,764 crore. The sharp growth in the bottom line was supported by strong price realisation. In the wake of rising crude prices, realisation rose to $75 per barrel in the December quarter from $43 per barrel in the previous quarter.
In the same period, the company’s gross revenue grew 67% to ₹28,474 crore. Shares of ONGC were down 0.8% on Friday, but the results were announced after the market hours.
Ashok Leyland posts profitable Q3
In the December quarter, the commercial-vehicle (CV) maker reported a net profit of ₹6 crore compared to a loss of ₹19 crore in the same period last year. The profit was boosted by a 15% year-on-year rise in revenues to ₹5,535 crore.
The management said that the CV industry is recovering due to an improvement in economic activity and a healthy demand from end-user sectors. This recovery is expected to be led by the medium and heavy commercial vehicle segment on the back of growth in construction and mining along with the government's infra push. On Friday, shares of Ashok Leyland were down nearly 3%.
Max Healthcare posts strong profit growth
Max Healthcare’s net profit rose 87% year-on-year to ₹252 crore in the December quarter. In the same period, the New Delhi-based hospital’s revenue rose by 21% to ₹1,392 crore.
The improved performance was due to better revenue mix, normalisation of surgeries and continued strengthening of medical programs. The management said that it will continue to focus on growth opportunities through the acquisition route, which will help it to increase bed capacity in the coming years. Shares of Max Healthcare were down 5% on Friday.
Sectoral indices (February 14)
| Top gainers | Top losers |
| NA | Nifty IT ▼ 2.7% |
| NA | Nifty PSU Bank ▼ 2.0% |
Global markets (at 7:30 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.2% |
| Nikkei 225 (Japan) | ▼ 2.6% |
| Hang Seng (Hong Kong) | ▼ 0.7% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (February 14) | ▼ 1.4% |
| NYSE (US) (February 14) | ▼ 1.3% |
| Nasdaq (US) (February 14) | ▼ 2.7% |
| S&P 500 (US) (February 14) | ▼ 1.9% |
Fact of the day
Before Mario Bros and other popular video games, Japanese gaming company Nintendo made playing cards called hanafuda.
The government revenue collection via FASTags on National Highways jumped 148% to ₹26,622 crore between April 2021 and January 2022.
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investment in securities markets is 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.