Morning Update for 21 April 2022

Indices at previous closing

Nifty50: 17,136 ▲177 (+1.0%)

Sensex: 57,037 ▲574 (+1.0%)

Nifty Bank: 36,314 ▼26 (-0.0%)

For more updates on F&O, click here.

Adani’s big West Bengal push

Adani Group has committed to invest ₹10,000 crore in West Bengal over the next decade. The group plans to invest in port infrastructure, data centres, and undersea cables. 

With Adani Wilmer’s edible oil plant already in place at Haldia, the group’s plans for the state also include the development of warehouses, logistic parks, and digital innovation centres. Meanwhile, shares of Adani Ports were up by 1.2%, while those of Adani Wilmar were down 0.7% yesterday.

Real estate business sentiment upbeat 

With raw material prices on the rise, real estate developers have already hiked prices. Nonetheless, the business scenario has improved, according to an industry sentiment index. 

However, experts believe that the rising inflation could impact demand going ahead. Meanwhile, the Nifty Realty index gained 0.5% yesterday.

Cementing demand

On the back of strong demand from rural housing and infrastructure sectors, ICRA estimates that cement demand could grow by 7-8% in this financial year.

However, due to high input costs and inflationary pressure, the operating margins could contract by around 300 basis points to 16-17%. Shares of ACC, UltraTech and Shree Cement were up in the range of 3% to 8% yesterday.

Sectoral indices (April 20)

Global markets (at 7:30 AM today)

Fact of the day

Employees’ Provident Fund Organisation (EPFO) added 14.1 lakh subscribers in February this year, up 14% year-on-year.

Source: Moneycontrol.com

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