Indices at 10:00 am
Nifty50 14,706 ▲ 61 (+0.4%)
Sensex 50,042 ▲ 249 (+0.5%)
Nifty Bank 32,680 ▲ 136 (+0.4%)
In the news
RIL-Future Group deal gets SEBI nod
- The SEBI has approved the ₹24,713 crore deal between Reliance Industries and the Future Group. The approval came through despite Amazon’s plea in the Delhi High Court to stay the deal.
- As part of the deal, Future Group will sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries. Shares of Reliance Industries (+2.3%), Future Retail (+4.9%) and Future Supply Chain Solutions (+4.9%) we're trading in the green today.
Bajaj Finance Q3 profits plunge
- The consumer lending-focused NBFC reported a 29% YoY fall in its net profits, which stood at ₹1,146 crore in Q3 compared to street estimates of ₹1,181 crore. At ₹6,658 crore, its revenues too declined 5% during the same period.
- Meanwhile, assets under management increased 4.3% to ₹1.4 lakh crore. Most of its businesses are disbursing 85-100% of last year volumes, except for auto finance which is still lagging. Results notwithstanding, the stock gained 3.2% today but as ceded around 2.6% in January.
Havells Q3 profits rise on demand boost
- The electrical equipment maker reported a 39.4% YoY jump in its Q3 standalone revenues to ₹3,166 crore. The sales growth was mainly supported by improved consumer sentiment, festive demand and increased penetration in smaller towns.
- Its net profit soared 75% YoY to ₹349 crore mainly due to lower advertisement and sales promotion expenses. Shares of Havells rose (+7%) today and are up 16% so far in January.
Tejas Networks Q3 revenues soar
- Shares of the networking products maker jumped () today after it reported Q3 consolidated revenues of ₹134.9 crore, up 56% YoY. Compared to a loss of ₹112 crore in Q3 last year, it delivered a net profit of Rs. 9.2 crore.
- Its order book increased by ₹73 crore to 672 crore. The company said that its cash flow position is improving and it currently holds cash and cash equivalents of ₹335 crore with no debt on the books.
Events this week
- Thursday: Home First Finance IPO opens (India), Initial Jobless claims (US)
- Friday: Reliance Industries Q3 results
Sectoral indices
| Top gainers | Top losers |
| Nifty IT ▲ 1.2% | Nifty Metal ▼ 0.6% |
| Nifty Auto ▲ 0.7% | Nifty Realty ▼ 0.1% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.9% |
| Hang Seng (Hong Kong) | ▲ 0.1% |
| SSE Composite (China) | ▲ 1.3% |
| Dow Jones (US) (15 Jan) | ▲ 0.8% |
Fact of the day
Exactly 45 years ago, Concorde inaugurated the world’s first scheduled supersonic passenger service from London to Bahrain.
Source: Britannica
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