Indices at previous closing
Nifty50: 14,906 ▼ -124 (-0.8%)
Sensex: 49,564 ▼ -337 (-0.6%)
Nifty Bank: 33,334 ▼ -350 (-1.0%)
In the news
Havells delivers strong Q4 performance
- Consumer electrical goods maker Havells posted a consolidated net profit of ₹302 crore, up 71% year-on-year. The company managed to sustain its growth momentum of Q3, and achieved its highest quarterly sales in Q4.
- Revenue for the March quarter grew over 50% to ₹3,331 crore, on the back of strong sales in segments such as switchgear, cables and electrical consumer durables. However, the management said that it has seen a deceleration in growth from the second week of April due to the second wave. The stock closed flat yesterday but has gained over 17% so far in 2021.
Relaxo’s Q4 benefits from low base
- The low base of 2020 strengthened Relaxo’s Q4 revenues, which rose 38% YoY to ₹748 crore. Its net profit rose 97% to ₹102 crore, buoyed by superior product mix and lower selling and admin expenses.
- The footwear company’s stock surged over 7% yesterday and hit its lifetime high of ₹1,085. The stock has risen over 25% so far this year.
Zee returns to profits in Q4
- Zee Entertainment reported a net profit of ₹275 crore for Q4FY21 due to a significant reduction in operating and promotional expenses. It had reported a loss of ₹766 crore in the same quarter last year.
- Meanwhile, operating revenue increased barely 1% year-on-year to ₹1,966 crore and was impacted by a dip in theatrical revenues due to the pandemic. However, recovery in the advertising environment enabled a 9% growth in ad revenues. The stock closed 0.6% lower yesterday and has declined over 16% this year.
Bumpy road ahead for auto sector
- As the worse-than-expected second wave derails the recovery momentum of the automobile sector, rating agency ICRA has downgraded the growth outlook for major auto segments by 2–6%.
- It now expects two-wheelers to grow at 10–12%, passenger vehicles at 17–20%, commercial vehicles at 21–24% and tractors at 1–4% for FY22. Further, these numbers could be worse if the recovery is prolonged, or if there is a third wave. Despite this uncertainty, the Nifty Auto index has gained 6% so far this month.
Sectoral indices (20 May)
| Top gainers | Top losers |
| Nifty Realty ▲ 1.0% |
Nifty Metal ▼ 3.2% |
| Nifty PSU Bank ▲ 0.3% |
Nifty Bank ▼ -1.0% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) |
▲ 0.3% |
| Hang Seng (Hong Kong) |
▼ 0.3% |
| SSE Composite (China) | ▼ 0.4% |
| Dow Jones (US) (20 May) |
▲ 0.5% |
Fact of the day
A pizza with one of its slices removed was the inspiration for Japan's Toru Iwatani to create the Pacman character.
Source: TIME
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