Indices at previous closing
Nifty50: 18,308 ▲52 (+0.2%)
Sensex: 61,308 ▲85 (+0.1%)
Nifty Bank: 38,216 ▼154 (-0.4%)
For more updates on F&O, click here.
UltraTech’s profit rises in Q3
In the December quarter, the cement maker’s consolidated net profit rose 8% year-on-year to ₹1,708 crore. This was higher than the street’s estimate. In the same period, the net sales also increased around 5% to ₹12,710 crore.
The management said that the demand slowed down due to a ban on construction in the National Capital Region, extended monsoon in a few states and diwali holidays. However, it added that raw material prices (pet coke and coal) have started softening. Meanwhile, shares of UltraTech Cement were up 2.7% yesterday.
Steel stocks up
Shares of domestic steel manufacturers rose on Monday after the reports claimed that trade duties have been imposed by the European Union on imports from China, Russia and the US. Experts believe that re-imposition of anti-dumping duty on steel from these countries will be beneficial for European units of Tata Steel and JSW Steel.
The steel makers in Europe had asked the authorities to re-impose anti-dumping duties, which were announced in 2016. Shares of Tata Steel and JSW Steel were up in the range of 1% to 3%.
New mapping policy benefits domestic firms
The new mapping policy unveiled by the Indian government could be beneficial for domestic digital map providers, according to experts. These companies don’t need to take approvals for storing, publishing and updating digital geospatial maps.
Also, foreign mapping companies like Google Maps and Tom Tom will have to engage with Indian partners for maps with finer details. Meanwhile, shares of MapmyIndia were up 7% and are trading 80% above the issue price.
Sectoral indices (January 17)
| Top gainers | Top losers |
| Nifty Auto ▲ 2.0% | Nifty Pharma ▼ 0.7% |
| Nifty Realty ▲ 1.2% | Nifty Bank ▼ 0.4% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.8% |
| Hang Seng (Hong Kong) | ▲ 0.2% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (January 14) | ▼ 0.5% |
| NYSE (US) (January 14) | ▼ 0.2% |
| Nasdaq (US) (January 14) | ▲ 0.5% |
| S&P 500 (US) (January 14) | ▲ 0.0% |
Fact of the day
Blackrock has become the first publicly traded asset manager to cross the $10-trillion-mark in assets. Just to give context, India’s total market capitalisation is around $3.5 trillion.
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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.