Indices at previous closing
Nifty50: 18,178 ▼-88 (-0.4%)
Sensex: 60,923 ▼-336 (-0.5%)
Nifty Bank: 40,030 ▲+512 (1.3%)
For more updates on F&O, click here.
In the news
TVS Motor reports robust Q2 results
The Chennai-based leading two-wheeler manufacturer reported a 22% year on year rise in revenues to ₹5,619 crore, its highest ever. Its profit after tax jumped nearly 42% to ₹278 crore. Its two-wheeler exports grew 46% and supported the overall revenue growth. Exports contribute nearly 30% of the total revenues.
The company delivered strong performance despite hurdles such as increase in commodity costs, scarcity of containers for international business and semiconductor shortage. Meanwhile, shares of TVS rose 0.6% yesterday but the result was announced after market hours. The stock has risen 5% so far this month
Indian Hotels narrows loss
Tata Group’s hospitality company narrowed its loss to ₹121 crore in the September quarter from ₹230 crore last year. Its revenues more than doubled to ₹752 crore, up 132% year on year, on the back of the recovery in demand after the second wave.
The company plans to go on a capital raising spree with a ₹2,000 crore rights issue and another ₹2,000 crore from sale of shares to institutions. It will help the company bring its net debt to zero from ₹3,571 crore currently. Shares of Indian Hotels were down 1.8% but the results were announced after market hours. However, its shares have nearly doubled so far this fiscal.
CG Power posts robust Q2 results
The electric products and services company reported standalone net profit of ₹93 crore in the September quarter versus a loss of ₹134 crore in the same period last year. Its sales also rose 139% year-on-year to ₹1,352 crore, which is the highest in the last ten quarters. The strong growth was seen in both its business segments viz. industrial and power systems.
However, the company warned that its margins continued to be impacted by high prices of key metals such as copper and aluminium. Despite this, the EBITDA margin rose to 13% in Q2FY22 from 9% in Q2FY21. Meanwhile, shares of CG Power were up 2.3%, shrugging off the weakness in the market.
Sectoral indices (October 21)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 2.7% |
Nifty IT ▼2.5% |
| Nifty Auto ▲ 0.5% |
Nifty Metal ▼1.7% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) |
▲ 0.6% |
| Hang Seng (Hong Kong) |
▲ 0.1% |
| SSE Composite (China) | ▼0.0% |
| Dow Jones (US) (October 21) |
▼0.0% |
| NYSE (US) (October 21) |
▼0.0% |
| Nasdaq (US) (October 21) |
▲ 0.6% |
| S&P 500 (US) (October 21) |
▲ 0.3% |
Fact of the day
Iceland is home to the world's largest plant to capture carbon dioxide from the atmosphere. The plant aims to remove 4,000 tons of carbon dioxide annually that is the equivalent of 870 cars worth of emissions.
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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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