Indices at previous closing
Nifty50: 16,529 ▲164 (+1.0%)
Sensex: 55,437 ▲593 (+1.0%)
Nifty Bank: 36,169 ▲232 (+0.6%)
In the news
Vodafone Idea’s loss widens
The debt-ridden telco's net loss widened to ₹7,319 crore in Q1FY22 from ₹7,022 crore in Q4FY21. A fall in revenue and a rise in interest and financing costs took a toll on the bottom line. Meanwhile, revenue dropped by around 4.7% to ₹9,152 crore due to the impact of the second wave.
In the same period, its average revenue per user (ARPU) also marginally dropped to ₹104 and its subscriber base eroded. In comparison, its peers Jio and Bharti Airtel reported ARPU of ₹138 and ₹146, respectively. As of June 2021, the company’s gross debt including deferred spectrum payment and adjusted gross revenue (AGR) liability stood at ₹1.91 lakh crore. With Vodafone Idea facing severe financial stress, its shares have dropped by 23.6% in August.
Losses double for Future Retail
Mumbai-based Future Retail more than doubled its losses to ₹1,147 crore year-on-year, despite a 4.2% rise in revenue from operations. The company states that lockdown-related disruptions severely dented profitability.
Last week, the company filed a petition before the Supreme Court against a Delhi High Court order, which halted the Reliance-Future deal. Shares of the retailer were down 1.7% on Friday, after having risen 15% so far in FY22.
Amara Raja posts strong yearly growth
The automotive battery maker nearly doubled its June quarter net profit on a yearly basis to ₹124 crore, while revenue at ₹1,886 crore grew 64% YoY. However, the company’s results were weaker compared to Q4FY21, with revenue and profit dropping by about 10% and 34% respectively.
The company stated that it witnessed strong growth in its automotive and industrial segments. However, the latest quarter was impacted by pandemic-related lockdowns, which resulted in demand unpredictability. The stock has fallen 14% in this fiscal and closed nearly flat on Friday.
Sectoral indices (August 13)
| Top gainers | Top losers |
| Nifty IT ▲ 1.3% |
Nifty Media ▼ 0.9% |
| Nifty FMCG ▲ 0.8% |
Nifty Realty ▼ 0.9% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.2% |
| Nikkei 225 (Japan) |
▼ 1.8% |
| Hang Seng (Hong Kong) |
▼ 0.2% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (August 13) |
▲ 0.0% |
Fact of the day
The three dots in the Domino's logo represent the first three outlets of the pizza chain. Originally, the company planned to add a dot every time it opened a new outlet.
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.
Download the Upstox App Today