Indices at previous closing
Nifty50: 18,477 ▲+138 (+0.7%)
Sensex: 61,765 ▲+459 (+0.7%)
Nifty Bank: 39,684 ▲+343 (+0.8%)
For more updates on F&O, click here.
In the news
CG Power surges on sale of land
Shares of Mumbai-based power equipment maker, CG Power were locked at 5% upper circuit as the company entered an agreement to sell its property in Mumbai for ₹382 crore. The company would also get ₹20 crore as a repayment of the deposit.
Reportedly, CG Power had entered into an agreement in 2015 for the sale of its land parcel to the buyer by 2019. However, the transaction was not consummated then and is now expected to be completed on or before March 31, 2022.
Route Mobile posts strong Q2 results
The cloud communications platform’s consolidated net profit rose by 28.5% YoY to ₹42 crore. In the same period, the revenue from operations also increased 24.7% to ₹435 crore.
The strong growth in the revenue was led by its UK and Dubai segments. The company’s profitability also improved with its EBITDA margin expanding from 11.4% in Q2FY21 to 14.2% in Q2FY22. The company continues to have a strong 86% revenue retention from existing customers. Meanwhile, shares of the company rose 1.5% yesterday. Its stock has gained over 6 times since its listing in September 2020.
Maharashtra extends timing for restaurants
In a fresh round of easing of curbs, the Maharashtra government announced that restaurants will be permitted to stay open beyond 10 pm.
The government said that due to the constant demand to extend the working hours and decreasing number of new cases, it is slowly relaxing the restrictions. Earlier, theatres and cinema halls were given a nod to reopen from October 22, albeit with 50% capacity. Meanwhile, shares of restaurant chains like Barbeque Nation (+2.4%) and Westlife Development (+0.9%) rose yesterday.
Sectoral indices (October 18)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 3.9% |
Nifty Pharma ▼0.8% |
| Nifty Metal ▲ 3.8% |
Nifty Media ▼0.7% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) |
▲ 0.6% |
| Hang Seng (Hong Kong) |
▲ 1.1% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (October 18) |
▼0.1% |
| NYSE (US) (October 18) |
▼0.0% |
| Nasdaq (US) (October 18) |
▲ 0.8% |
| S&P 500 (US) (October 18) |
▲ 0.3% |
Fact of the day
India now has 65 companies that have turned into unicorns, of which 28 have been created in 2021 alone. A unicorn is a privately held startup company valued at over $1 billion..
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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.
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