Indices at previous closing
Nifty50: 14,406 ▲ 109 (+0.7%)
Sensex: 48,080 ▲ 374 (+0.7%)
Nifty Bank: 31,782 ▲ 669 (+2.1%)
In the news
Tata Elxsi posts record quarterly profits
- The technology design services provider reported revenue of ₹518 crore during Q4FY21, up 8.7% QoQ and 18.1% YoY. The company recorded its highest-ever quarterly net profit of ₹115 crore, which improved 9.5% QoQ and 40.3% YoY.
- Its business was boosted by a 11.8% QoQ growth in the healthcare business, supported by large deal wins. The company reported a 21.1% QoQ growth from its US and India markets. The stock rose 1.6% yesterday and has risen about 13% so far in April.
Indus Towers reports strong profit growth
- Telecom tower major reported consolidated revenue of ₹6,492 crore, up 3% YoY crore, while its net profit rose 38% to ₹1,364 crore.
- During the quarter, the company added 3,715 towers across India. As of 31 March 2021, the company owns and operates 1,79,225 towers across India, about 6% more YoY. The stock closed 2.3% higher yesterday, and is up almost 7% in April.
Cadila vaccine expected to get early nod
- With the massive spike in daily Covid cases, the government is focusing on speeding up trials and the approval process for locally made vaccines to address the supply-demand mismatch.
- Reports suggest that Zydus Cadila’s ZyCoV-D vaccine could receive an expedited approval. The company has said that it is setting up a plant to manufacture 120 million doses of the vaccine per year. The plant is expected to be ready for commercial production in Q1FY22. Shares of Cadila were down 0.7% yesterday but have risen over 25% so far in April.
Filatex reports five-fold jump in net profit
- The New Delhi-based polyester filament yarn maker’s net profit grew nearly five-fold year-on-year to ₹118 crore in Q4FY21. Revenue from operations improved 27% YoY to ₹852 crore.
- Its EBITDA margins shot up to 22.1% from 9.3% last year on account of strong price realisations and full capacity utilisation of value-added products. Further, it announced that it will commission a 30 MW captive power plant next month, which will save energy costs to the tune of ₹45 crore. The stock rose 1.9% on Thursday, and is up 12% this month.
Sectoral indices (22 April)
| Top gainers | Top losers |
| Nifty Bank ▲ 2.1% | Nifty FMCG ▼ 0.7% |
| Nifty Fin Serv ▲ 2.1% | Nifty Pharma ▼ 0.3% |
Global markets (at 8:15 am)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.7% |
| Hang Seng (Hong Kong) | ▲ 1.0% |
| SSE Composite (China) | ▲ 0.4% |
| Dow Jones (US) (22 April) | ▼ 0.9% |
Fact of the day
Nestle's Kit Kat chocolate is hugely popular in Japan. Called “Kitto katto” there, the name sounds like the phrase “kitto katsu,” which translates to “surely going to win” in Japanese.
Source: The Diplomat
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