Indices at previous closing
Nifty50: 18,257 ▲45 (+0.2%)
Sensex: 61,235 ▲85 (+0.1%)
Nifty Bank: 38,469 ▼257 (-0.6%)
For more updates on F&O, click here.
Reliance has big green-energy plans
The oil-to-telecom major plans to invest nearly ₹6 lakh crore in green energy and other projects in Gujarat. These investments would be spread over the next 10-15 years.
Of the above, ₹5 lakh crore would be earmarked for development of a 100GW renewable energy power plant and a green hydrogen ecosystem. The company’s shares are seeing high investor interest and have risen about 7% so far this month.
Mindtree posts strong Q3
For the December quarter, Mindtree delivered a revenue and profit growth of 6.3% and 9.7%, respectively, on a sequential basis. The revenue growth was driven by the company’s travel and healthcare verticals, which grew 7.4% and 29%, respectively.
Just like its larger peers, Mindtree saw its employee attrition rates rising to 21.9% from 17.7% in the previous quarter.
Auto component makers to see muted growth
ICRA has lowered the revenue growth forecast for the auto components industry for this fiscal by 200 bps to 15-17%. It cited the impact of the third wave, the ongoing semiconductor shortage and muted demand for two-wheelers as key reasons for this revision.
That being said, in FY23 the industry could witness normalisation of supply chain issues, resulting in improved margins.
Sectoral indices (January 13)
| Top gainers | Top losers |
| Nifty Metal ▲ 3.4% | Nifty Realty ▼ 0.7% |
| Nifty Pharma ▲ 1.5% | Nifty Bank ▼ 0.6% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▼ 1.9% |
| Hang Seng (Hong Kong) | ▼ 0.5% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (January 13) | ▼ 0.4% |
| NYSE (US) (January 13) | ▼ 0.5% |
| Nasdaq (US) (January 13) | ▼ 2.5% |
| S&P 500 (US) (January 13) | ▼ 1.4% |
Fact of the day
Amazon employees, including the CEO, spend two days every two years working at the customer service desk. This practice aims to help all employees understand the customer service process.
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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.