Indices at previous closing
Nifty50: 16,842 ▼531 (-3.0%)
Sensex: 56,405 ▼1,747 (-3.0%)
Nifty Bank: 36,908 ▼1,608 (-4.1%)
For more updates on F&O, click here.
Eicher Motors slows down
The manufacturer of Royal Enfield posted a net profit of ₹456 crore in the December quarter, down 14% year-on-year. In the same period, the company’s revenue growth was also flat at nearly 2%. It reported a revenue of ₹2,881 crore in Q3FY22.
Its Royal Enfield sales volumes dropped around 15% YoY to 1.6 lakh. The management said that the ongoing global semiconductor shortage and onset of the third wave impacted the company’s performance in Q3. Meanwhile, shares of Eicher Motors were down 1.2% but the results were announced after the market hours.
Coal India powers ahead
India’s largest coal mining company posted a 48% growth in its net profit to ₹4,556 crore. This was above the street’s estimate of ₹4,046 crore. The sharp growth in profit was supported by a 20% rise in the sales to ₹25,990 crore.
In the same period, the company’s offtake as well as production witnessed growth. It declared a second interim dividend of ₹5 per share, which amounts to a dividend yield of 3% on yesterday’s stock price. Shares of Coal India were down nearly 3% yesterday.
Retail inflation at a 7-month high
India’s retail inflation rose 6% in January, according to the data released by the government. The rise in prices of food, clothing, footwear and fuel drove the retail inflation numbers.
Experts believe that inflation was in line with the Indian central bank’s estimate and is expected to have peaked out. Meanwhile, rising inflation is one of the major concerns that continue to spook investors. The Nifty50 index was down 3% today.
Sectoral indices (February 14)
| Top gainers | Top losers |
| NA | Nifty PSU Bank ▼ 5.9% |
| NA | Nifty Financial Services ▼ 4.1% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.5% |
| Nikkei 225 (Japan) | ▼ 0.3% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (February 14) | ▼ 0.4% |
| NYSE (US) (February 14) | ▼ 0.8% |
| Nasdaq (US) (February 14) | ▼ 0.0% |
| S&P 500 (US) (February 14) | ▼ 0.3% |
Fact of the day
Colgate was established in New York in the early 19th century as a small soap and candle business.
Source: Colgate Palmolive
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