Indices at previous closing
Nifty50: 16,563 ▲+33 (+0.2%)
Sensex: 55,582 ▲+145 (+0.2%)
Nifty Bank: 36,094 ▼-74 (-0.2%)
In the news
Fiem Industries bags Ola Electric deal
Haryana-based Fiem Industries has become the sole supplier for certain components to Ola Electric’s recently launched S1 and S1 Pro scooters. Under the contract, the company will supply lighting, rear fender assembly and mirrors for the vehicles.
Ola is building a $330 million (₹2,450 crore) plant in Tamil Nadu that is estimated to have capacity to produce 10 million vehicles by the end of 2022. Besides Ola Electric, Fieim aims to entrench itself deeper into the two-wheeler EV segment. The company’s Q1 revenue grew four-fold YoY to ₹272 crore. Meanwhile, it reported a profit of ₹11 crore versus a loss of ₹23 crore last Q1. Its stock rose 4.7% yesterday.
Info Edge posts healthy Q1 numbers
The leading internet company reported a standalone net profit of ₹100 crore in the June quarter, up 21% YoY. During the same period, the company’s revenue rose by 14% YoY to ₹319 crore driven by growth in all verticals.
The management said that the business recovery has continued in the June quarter led by billing growth across its all four verticals—recruitment solutions, 99acres, Jeevansaathi and Shiksha. Shares of the company were up 0.4% yesterday.
EaseMyTrip Q1 profit soar
The online travel company witnessed an over 500% jump in its Q1 profit after tax, which stood at ₹15.4 crore. Revenue from booking, too, was stronger by 261% YoY at ₹356 crore, supported by air-ticket bookings.
The company attributed the surge in profit to increase in margins and commissions, lower expenses and enhanced operational efficiency. Strong Q1 performance notwithstanding, shares of EaseMyTrip declined around 1%. That said, the stock has gained 250% over its issue price.
Sectoral indices (August 16)
| Top gainers | Top losers |
| Nifty Metal ▲ 1.4% |
Nifty Media ▼ 1.4% |
| Nifty Oil & Gas ▲ 0.9% |
Nifty PSU Bank ▼ 0.9% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.2% |
| Nikkei 225 (Japan) |
▲ 0.1% |
| Hang Seng (Hong Kong) |
▼ 0.0% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (August 16) |
▲ 0.3% |
| NYSE (US) (August 16) |
▼ 0.1% |
| Nasdaq (US) (August 16) |
▼ 0.2% |
Fact of the day
After the US, India has the second largest number of Domino's outlets in the world.
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