Indices at previous closing
Nifty50: 15,772 ▲+26 (+0.1%)
Sensex: 52,588 ▲+14 (+0.0%)
Nifty Bank: 34,745 ▼-126.30 (-0.36%)
In the news
Hero MotoCorp to hike prices
- After Maruti Suzuki India, now India’s largest two-wheeler manufacturer Hero MotoCorp has decided to increase the prices from July 1 to offset the increasing input costs. The company will hike the prices of its motorcycles and scooters by up to ₹3,000 per unit.
- The management has said that it is taking aggressive cost-saving measures to reduce the impact on its customers. Shares of Hero MotoCorp were up by 0.3% on Tuesday.
NMDC posts bumper profits
- The state-owned mining company NMDC reported a massive 708% surge in its standalone net profit for the March quarter at ₹2,838 crore. The profit growth was supported by a 115% rise in revenue from operations at ₹6,848 crore.
- The company said that it managed to achieve the best ever quarterly performance in Q4FY21. This is enabled by a 29% rise in iron ore sales volumes and a 67% rise in average realization or price per tonne. Shares of NMDC closed 0.3% higher yesterday, but the results were declared after market hours.
India Pesticides to launch IPO today
- Lucknow-based India Pesticides, an agrochemical manufacturer, will open for subscription today. The price band for the issue is ₹290 to ₹296 and the size of the IPO is ₹800 crore.
- The company derives about 80% of revenues from technicals i.e. basic active ingredients and the remaining 20% comes from formulations or finished products. Meanwhile, India Pesticides raised ₹240 crore from 12 anchor investors on Tuesday. You can apply for the IPO on Upstox here.
Sectoral indices (22 June)
| Top gainers | Top losers |
| Nifty Auto ▲ 1.3% | Nifty Realty ▼ 0.6% |
| Nifty IT ▲ 0.5% | Nifty Bank ▼ 0.3% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) | ▲ 0.0% |
| Hang Seng (Hong Kong) | ▲ 0.7% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (22 June) | ▲ 0.2% |
Fact of the day
The US state of Massachusetts has announced a $1 million lottery for fully vaccinated people.
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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.