Indices at 10 am
▲ Nifty 11,891 (+0.7%) ▲ Sensex 40,574 (+0.8%)
▲ Nifty Midcap 100 17,333 (+0.5%) ▲Nifty Smallcap 100 5,771 (+0.7%)
Stocks in the news
Sun Pharma
- Q2 consolidated revenue from operations rose 5% over last year to ₹8,553 crore versus street expectation of ₹8,302 crore.
- Lower other expenses and rise in other income boosted profit, which rose to ₹1,813 crore, a 70% jump over last year. Street estimates were ₹1,124 crore.
- The stock is up 5.6% today, and the top gainer in Nifty50 pack.
Adani Ports
- Revival in economic activities and easing of lockdown help cargo volumes to rise 36% on a quarter on quarter basis. Market share in India rises to 24% of overall cargo versus 21% in Q1FY21
- Consolidated net profit rises to ₹1,394 crore up 84% QoQ and 32% YoY.
- The stock is up 1.0%.
Dabur India
- Consolidated net profits rose 19.5% YoY on the back of 13.7% revenue growth and margin expansion to 22.6% versus 22.1% last year.
- India FMCG business recorded revenue growth of 19.8% YoY supported by high growth in the health care segment. This segment mainly includes chyawanprash, honey and other immunity-booster products.
- The stock is up 2.5%.
Events today
- Earnings expected from SBI, Powergrid and Pidilite
- Services PMI (October)
- Crude oil inventories
Fact of the day
Google’s New York arm started at a Starbucks in the year 2000 and was run by a one person sales ‘team’.
Source: https://www.entrepreneur.com/article/246477
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Investment in securities markets are 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.
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