Indices at previous closing
Nifty50: 18,102 ▲+229 (+1.2%)
Sensex: 60,686 ▲+767 (+1.2%)
Nifty Bank: 38,733 ▲+173 (+0.4%)
For F&O updates, click here.
ONGC’s Q2 profit soars
The state-owned oil and natural gas exploration company’s net profit soared 565% year-on-year to ₹18,348 crore. The sharp growth in profit was aided by a 44% rise in the revenue to ₹24,353 crore.
The strong performance was mainly supported by 70% rise in crude oil realisation. However, the production of crude oil and gas has declined in the current year mainly due to restrictive conditions created by cyclone Tauktae and pandemic’s impact. Meanwhile, ONGC declared an interim dividend of ₹5.5, implying a dividend yield 3.5% on Friday’s closing price. Its shares were up 0.8% but the results were announced after market hours.
Voda-Idea’s loss narrows marginally in Q2
In Q2FY22, the telecom player posted a loss of ₹7,132 crore compared to a loss of ₹7,319 in the June quarter. The loss was on account of high finance costs and other inflationary cost increases. However, the revenue rose 3% quarter-on-quarter to ₹9,406 crore.
The company’s subscriber base shrunk for the fifth straight quarter. But the average revenue per user increased from ₹104 in Q1FY22 to ₹109 crore in Q2FY22. This was supported by the increase in the entry level prepaid pricing plan as well as the rise in the tariffs of some postpaid plans. Meanwhile, shares of Vodafone Idea were up 4% on Friday.
Glenmark Pharma posts robust Q2 numbers
In the September quarter, the Mumbai-based pharmaceutical company reported net profit of ₹257 crore, up 10% year-on-year. In the same period, its revenue also grew 6% to ₹3,147 crore. While the India segment revenues were impacted by lower contribution from pandemic related products, the rest of world (RoW) segment showed strong growth.
The company expects the second of FY22 to be better and aims for 10-15% revenue growth. It also added that the company has substantially reduced its debt and plans to further cut it by ₹1,600 crore in FY22 through a combination of internal accruals and IPO proceeds. Meanwhile, shares of Glenmark Pharma were up 1.7% but the results were announced after market hours.
Sectoral indices (November 12)
| Top gainers | Top losers |
| Nifty IT ▲ 2.1% | Nifty Media ▼ 0.1% |
| Nifty Realty ▲ 1.6% | Nifty PSU Bank ▼ 0.1% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) | ▲ 0.4% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) | ▼ 0.1% |
| Dow Jones (US) (November 12) | ▲ 0.5% |
| NYSE (US) (November 12) | ▲ 0.4% |
| Nasdaq (US) (November 12) | ▲ 1.0% |
| S&P 500 (US) (November 12) | ▲ 0.7% |
Fact of the day
In 2009, Domino’s gave away nearly 11,000 free pizzas due to a glitch in its promotional code.
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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.