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.
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