Indices at previous closing
Nifty50: 15799 ▲+12 (+0.0%)
Sensex: 52,474 ▲+76 (+0.1%)
Nifty Bank: 34,950 ▼ -96 (-0.2%)
In the news
Coal India’s profits decline in Q4
- The state-owned coal miner’s consolidated net profit declined 1.1% to ₹4,589 crore, for the March quarter. The drop in profit was mainly due to lower sales. During the same period, revenue from operations fell 3.1% to ₹26,700 crore.
- As per reports, the company produces over 80% of the domestic coal output. It is targeting an output of 1 billion tonnes by 2023-24, up from 596 million tonnes in FY21. The stock fell 2.1% today but has gained over 22% so far this fiscal.
Inflation rate rises above FD returns
- India’s retail inflation spiked by 6.3% year-on-year in May, driven by higher food and energy prices. This reading is above the Reserve Bank of India’s threshold of 6%.
- Further, the inflation rate is more than the interest earned on a 5 to 10-year bank fixed deposit (FD). For instance, big banks like SBI and ICICI Bank are offering an interest rate of 5.4% and 5.5% in this period. Thus, real returns on FDs could actually be negative.
India’s ad industry to grow in double digits
- The Indian advertising industry is expected to grow at 20.5% in 2021, according to Media Partners Asia. In comparison, the industry had declined by 27% in 2020.
- While TV continued to account for 45% of ad spends, digital is fast catching up, with a 35% share. Meanwhile, share of domestic media companies Zee Entertainment, Sun TV and TV18 Broadcast have gained 7%, 9% and 58%, so far this fiscal.
Sectoral indices (14 June)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 0.5% | Nifty Realty ▼ 1.5% |
| Nifty IT ▲ 0.3% | Nifty Media ▼ 0.6% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.7% |
| Hang Seng (Hong Kong) | ▼ 1.1% |
| SSE Composite (China) | ▼ 1.1% |
| Dow Jones (US) (14 June) | ▼ 0.2% |
Key data releases this week
- Tuesday: Retail sales (US)
- Wednesday: Crude oil inventories, Fed interest rate decision (US)
- Thursday: Initial jobless claims (US)
Fact of the day
Lamborghinis are almost sold out for the current calendar year. Fueled by “revenge spending”, the Italian luxury car brand has sold about 10 months of its production capacity.
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