Indices at previous closing
Nifty50: 17,617 ▼139 (-0.7%)
Sensex: 59,037 ▼427 (-0.7%)
Nifty Bank: 37,574 ▼276 (-0.7%)
For more updates on F&O, click here.
RIL delivers robust Q3 performance
In the December quarter, the oil-to-telecom conglomerate’s net profit rose 38% YoY to a quarterly record of ₹20,539 crore. The robust growth in the profit was driven by a 52% rise in revenue to ₹209,823 crore. The company said that its best-ever quarterly performance in Q3FY22 was led by strong contributions from all of its business segments.
Jio’s average revenue per user (ARPU) rose by a healthy 8.4% YoY to ₹152 per month. Meanwhile, in the retail business it saw the highest ever store sales. Shares of Reliance Industries were up flat on Friday but the results were announced after the market hours.
ICICI Bank beats street estimate
The private sector bank reported a net profit of ₹6,194 crore, up 25% year-on-year, which was higher than the street estimate of ₹5,835 crore. The strong growth in the bottom line was supported by a rise in net interest income (NII) and lower provisioning.
The NII rose 23% to ₹12,236 crore. In the same period, the provision for bad loans declined 27% YoY. The asset quality also improved with gross NPAs falling to 4.1% of the total loan book compared to 4.3% in Q3FY21. Meanwhile, shares of ICICI Bank were up flat on Friday but the results were announced on the weekend.
FabIndia plans to tap equity markets
The ethnic wear brand reportedly plans to raise ₹4,000 crore through the IPO route. Of this, ₹500 crore will be a fresh issue of shares. The six-decade-old Azim Premji-backed company filed its DRHP on Saturday.
The company currently runs more than 300 FabIndia outlets and 70 Organic India stores across India. It sources products from over 2,200 farmers in India and plans to gift more than 7 lakh shares to artisans and farmers.
Sectoral indices (January 21)
| Top gainers | Top losers |
| Nifty FMCG ▲ 0.3% | Nifty Media ▼ 3.4% |
| NA | Nifty PSU Bank ▼ 3.0% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.8% |
| Nikkei 225 (Japan) | ▼ 0.5% |
| Hang Seng (Hong Kong) | ▼ 1.1% |
| SSE Composite (China) | ▼ 0.5% |
| Dow Jones (US) (January 21) | ▼ 1.3% |
| NYSE (US) (January 21) | ▼ 1.6% |
| Nasdaq (US) (January 21) | ▼ 2.7% |
| S&P 500 (US) (January 21) | ▼ 1.8% |
Fact of the day
The Indian central bank demonetised ₹5,000 and ₹10,000 notes in 1978.
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
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.