Indices at previous closing
Nifty50: 17,324 ▼−43 (-0.2%)
Sensex: 58,117 ▼−166 (-0.2%)
Nifty Bank: 36,893 ▼-31 (-0.0%)
For more updates on F&O, click here.
Ashok Leyland says demand improving
The management of the commercial vehicle maker has said that the demand situation is improving on a month-on-month basis. It added that the tipper segment was doing well.
However, the automaker continues to face the chip shortage issue for some models. In November, the overall sales of Ashok Leyand were above the street’s estimate. Meanwhile, shares of the company were down 1.7% on Tuesday.
ABFRL rose on Reebok agreement
Shares of Aditya Birla Fashion and Retail (ABFRL) soared 9% intraday as the company announced that it has signed a long term agreement to exclusively sell and distribute Reebok products in India and other ASEAN countries.
With this the company has expanded into the sports and lifestyle segment. This segment is expected to grow at a CAGR of 14% to $13 billion by FY24. Meanwhile, shares of ABFRL pared some of their gains and ended 7% higher yesterday.
PVR’s F&B revenue rises
The management of the multiplex chain said that its food and beverages revenue has surged but the advertising revenue is yet to pick pace. The management expects the December quarter to be better than the September quarter.
PVR has been witnessing an increase in footfalls after the Diwali releases and pandemic-induced restrictions were eased. Also, its business in South India has performed strongly, while in Punjab it has hit pre-pandemic levels. Meanwhile, shares of PVR were down 2% yesterday, however, those of its competitor Inox Leisure were up by 4%.
Sectoral indices (December 14)
| Top gainers | Top losers |
| Nifty Media ▲ 1.5% | Nifty PSU Bank ▼ 0.7% |
| Nifty Pharma ▲ 1.0% | Nifty Auto ▼ 0.6% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.0% |
| Nikkei 225 (Japan) | ▼ 0.0% |
| Hang Seng (Hong Kong) | ▲ 0.1% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (December 14) | ▼ 0.3% |
| NYSE (US) (December 14) | ▼ 0.4% |
| Nasdaq (US) (December 14) | ▼ 1.1% |
| S&P 500 (US) (December 14) | ▼ 0.7% |
Fact of the day
The assignment graded by Tesla CEO Elon Musk when he was a teaching assistant sold for $7,753 (₹5.8 lakh).
Yay 👍 or Nay 👎?
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.