Indices at previous closing
Nifty50: 17,888 ▼ -40 (-0.2%)
Sensex: 60,029 ▼ -109 (-0.1%)
Nifty Bank: 39,938 ▲+174 (+0.4%)
For more updates on F&O, click here.
In the news
High volume growth fuels Dabur’s Q2
In the September quarter, the domestic FMCG major’s consolidated net profit rose by 4.7% year-on-year to ₹504 crore. In the same period, its consolidated revenue grew by 12% to ₹2,818 crore. It witnessed growth in sales and market share across all segments of the business, with underlying volume growth of 10% in the FMCG business leading the pack.
The management has said calibrated price hikes and focus on cost control helped it deliver healthy topline growth. Interestingly, during the quarter, rural demand outpaced urban. Shares of Dabur rose by 0.2% yesterday.
The IPO buzz continues
Three more companies are set to launch their public issues today. The IPOs of PB Fintech, SJS Enterprises and Sigachi Industries are open for subscription from 1 to 3 November.
Ahead of the launch of their IPOs, PB Fintech and SJS Enterprises raised ₹2,569 crore and ₹240 crore from anchor investors, respectively on Friday. Besides these IPOs, currently Nykaa and Fino Payments Bank are open for subscription. You can apply for all these IPOs on Upstox.
Chip shortage continues to hurt Maruti
India’s largest car manufacturer expects its production to take a hit in November due to the unabating semiconductor shortage crisis. The automaker has said that based on current estimates, the total vehicle production volume in both locations in Haryana could be around 85% of the normal roll-out.
This is the third month in a row that the company’s production capacity has been impacted. Last week, the company reported a 66% drop in net profit, largely due to chip shortage and rise in commodity prices. Meanwhile, shares of Maruti Suzuki India closed 1.1% higher and have risen by 2% in October.
Sectoral indices (November 2)
| Top gainers | Top losers |
| Nifty Realty ▲ 3.3% | Nifty Metal ▼1.5% |
| Nifty PSU Bank ▲ 2.3% | Nifty Pharma ▼0.4% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▼0.4% |
| Hang Seng (Hong Kong) | ▼0.6% |
| SSE Composite (China) | ▼0.3% |
| Dow Jones (US) (November 2) | ▲ 0.3% |
| NYSE (US) (November 2) | ▼0.1% |
| Nasdaq (US) (November 2) | ▲ 0.3% |
| S&P 500 (US) (November 2) | ▲ 0.3% |
Fact of the day
The valuation (₹7,200 crore) of IPL team Chennai Super Kings is higher than its owner India Cements. (as on 27 October ‘21)
Source: Business Standard
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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.