Indices at previous closing
Nifty50: 15,746 ▼ -78 (-0.4%)
Sensex: 52,578 ▼ -273 (-0.5%)
Nifty Bank: 34,797 ▼-152 (-0.4%)
In the news
IndusInd Bank’s Q1 profit surges
- The private lender’s net profit soared by 99% year-on-year to ₹1,016 crore in the June quarter, beating the street estimate of ₹802 crore. The strong profit growth was driven by a drop in provisioning for non-performing assets (NPAs) and a double-digit rise in other income.
- The net interest income (NII) also rose 8% YoY to ₹3,564 crore. However, the net interest margin (NIM) declined slightly to 4% in June 2021 from 4.2% in June 2021. In the same period, the gross NPAs rose to 2.8% from 2.5%. Shares of IndusInd Bank were down 1% but the results were announced after market hours.
Indigo’s loss widens in Q1
- The leading airline’s net loss widened to ₹3,174 crore in Q1FY22 from ₹2,844 crore in Q1FY21. The management said that the number of passengers sharply declined in May and June as the second wave disrupted travel and tourism.
- The company’s revenue increased by 292% YoY to ₹3,006 crore due to the low-base of Q1FY21. However, fuel costs rose sharply by 853% to ₹1,215 crore and impacted overall performance. Shares of the company were down 1.4% yesterday. Notably, the stock has been broadly consolidating since December 2020.
Godawari Power & Ispat posts stellar Q1
- The steel maker’s consolidated net profit for the June quarter zoomed 967% YoY to ₹437 crore. The stellar profit growth was powered by a 67% jump in revenues to ₹1,126 crore.
- It achieved its highest-ever production of iron ore and steel billets during the June quarter. The company said it has fully repaid long-term debt in its standalone business. The stock rose 1.3% yesterday and has gained 135% so far this fiscal.
Sectoral indices (July 27)
| Top gainers | Top losers |
| Nifty Metal ▲ 1.4% | Nifty Pharma ▼ 4.3% |
| Nifty PSU Bank ▲ 0.3% | Nifty Private Bank ▼ 0.8% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.0% |
| Nikkei 225 (Japan) | ▼ 1.0% |
| Hang Seng (Hong Kong) | ▼ 0.0% |
| SSE Composite (China) | ▼ 1.4% |
| Dow Jones (US) (July 27) | ▼ 0.2% |
Fact of the day
Dubai, which has the world’s tallest building, also has the world’s deepest swimming pool with a depth of 196 feet.
Yay 👍 or Nay 👎?
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.