Indices at previous closing
Nifty50: 18,210 ▼ -57 (0.3%)
Sensex: 61,143 ▼ -206 (0.3%)
Nifty Bank: 40,874▼ -363 (0.8%)
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In the news
L&T Q2 profit rises, order inflow up
Engineering and construction major reported a 56% year-on-year growth in its consolidated adjusted profit to ₹1,723 crore. On the back of the pickup in project execution momentum and high growth in the IT business, its revenue rose 12% to ₹34,773 crore.
During the September quarter, L&T bagged orders worth ₹42,140 crore, up 50% over the same period last year. Company’s consolidated order book at ₹3.3 lakh crore stood at near record levels. The management commentary was optimistic on the back of the current business momentum. Meanwhile, shares of L&T were down (-1.0%) yesterday but results were announced after market hours.
Bajaj Auto beats street estimates
India’s leading two-wheeler maker Bajaj Auto’s standalone profit rose by 12% year-on-year to ₹1,275 crore in the September quarter, higher than street estimates of ₹1,184 crore. During the same period, the revenue from operations also rose 22% to ₹8,762 crore.
The rise in profits was driven by higher sales as the domestic two-wheeler market witnessed a reasonable recovery post second wave. The management has said that the company was able to partially offset the rise in the cost of raw materials by increasing the prices of its motorcycles. Yesterday, the shares of the company fell 0.6% but the results were announced after market hours.
P&G ups products prices
In a bid to tackle rising raw material costs, FMCG major Procter & Gamble Hygiene and Health (PGHH) has reportedly increased product prices between 4-11%. As per industry reports, the prices of detergent powders Ariel and Tide have already seen a hike of 4-5% since July.
Meanwhile, personal care brands such as Pantene and Head & Shoulders have seen a price rise of up to 11%. As per experts, inflation in commodities like palm oil, crude based derivatives which have risen from 30-80% alone in the September quarter has dented the margins of most FMCG companies. Meanwhile, shares of PGHH were down by 2.9% yesterday.
Sectoral indices (October 27)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 2.0% | Nifty Media ▼2.0% |
| Nifty IT ▲ 0.9% | Nifty Metal ▼1.5% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▼0.9% |
| Hang Seng (Hong Kong) | ▲ 0.1% |
| SSE Composite (China) | ▼0.7% |
| Dow Jones (US) (October 27) | ▼0.7% |
| NYSE (US) (October 27) | ▼1.3% |
| Nasdaq (US) (October 27) | ▲ 0.0% |
| S&P 500 (US) (October 27) | ▼0.5% |
Fact of the day
During World War 2 in 1942, Walt Disney produced propaganda movies for the US government.
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