Indices at previous closing
Nifty50: 15,175 ▲ +269 (+1.8%)
Sensex: 50,540 ▲ +975 (+1.9%)
Nifty Bank: 34,606 ▲ +1,272 (+3.8%)
In the news
JSW Steel posts record quarter
- Strong domestic demand supported by exports and improved steel prices helped the steel producer post record performance during the March quarter. Its consolidated revenue rose 51% YoY to ₹26,934 crore aided by a 11% increase in volumes.
- Its net profit rose manifold ₹4,191 crore from ₹188 crore in March quarter last year. The stock closed nearly flat on Friday, but is up 80% since the start of 2021.
Demand recovery aids Shree Cement’s Q4
- Shree Cement’s March quarter profit of ₹767 crore beats street estimates of ₹690 crore. The 22% YoY growth in profit was supported by a demand-led increase in volumes and realisation.
- Further, a decline in depreciation and interest costs aided the net profit. For the quarter, the company’s revenue rose 22% to ₹3930 crore. On Friday, the Nifty50 stock was up 0.3% and has risen around 15% so far this year.
Hindalco’s Q4 profits surge
- The metals major reported its best quarterly profits driven by higher volumes, better product mix and lower input costs. The company's Q4 consolidated profit after tax nearly tripled YoY to ₹1,928 crore.
- Consolidated revenue from operations rose 38% versus the last Q4. The improvement was supported by marked improvement revenues from US-based subsidiary Novelis and India aluminium business. The stock was up 1% on Friday and is up about 62% so far in 2021.
PVC prices rise boosts DCW’s Q4
- Rising PVC prices helped DCW turn back in black in FY21, after a period of three years. It derives nearly 60% of revenues from plastic products such as PVC & CPVC.
- For the March quarter, it posted a profit of ₹6 crore compared to a net loss of ₹25 crore in the same quarter last year. Revenues rose 55% YoY. The results came after the market close on Friday, when its shares fell 5.6%. However, they have gained 92% so far in 2021.
Events of the week
- Tuesday: New Home Sales (US)
- Wednesday: Crude Oil Inventories (US)
- Thursday: GDP data, Jobless claims (US)
Sectoral indices (21 May)
| Top gainers | Top losers |
| Nifty Bank ▲ 3.8% |
NA |
| Nifty PSU Bank ▲ 3.8% |
NA |
Global markets (at 8:15 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.4% |
| Nikkei 225 (Japan) |
▲ 0.2% |
| Hang Seng (Hong Kong) |
▼ 0.7% |
| SSE Composite (China) | ▼ 0.2% |
| Dow Jones (US) (21 May) |
▲ 0.3% |
Fact of the day
Bubble wrap was originally meant to be wallpaper before it began life as packaging material.
Source: Huffpost
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