Indices at 10 am
▲ Nifty 12,059 (+1.3%) ▲ Sensex 41,126 (+1.3%)
▲ Nifty Midcap 100 17,559 (+1.1%) ▲Nifty Smallcap 100 5,807 (+1.4%)
Stocks in the news
Pidilite Industries
- Adhesives maker, Pidilite Industries reported 10% year on year growth net profit to ₹357 crore. The jump in profit would have been 34% not considering the tax reversal in the previous year.
- Net sales grew by 3% to ₹1,857 crore. Demand for its products rose in rural and semi urban areas, whereas B2B business and metro markets are yet to reach pre-Covid levels.
- The stock is up 1.7% today.
Apollo Tyres
- In Q2, consolidated net profit of Apollo Tyres more than doubled to ₹200 crore, compared to the year-ago period. Higher other income and lower other expenses helped to boost the profits.
- Apollo’s revenues grew by 8% YoY to ₹4,234 crore. The company witnessed robust sales in the replacement market. In the recent months, major OEMs too have shown recovery in sales volumes, sequentially.
- The stock is down ~1% today. It gained 7% in October 2020.
Happiest Minds
- Digital transformation enabler, Happiest Minds reported 27.8% YoY jump in consolidated net profit to ₹34 crore. This was the company's first quarterly result announcement after going public in September 2020.
- It’s revenues saw a modest rise of 3.4% YoY to ₹187.9 crore.
- The stock is down 5% today, post results. It has nearly doubled from its issue price.
Events today
- Earnings expected from Godrej Consumer, Berger Paints
Fact of the day
The Sensex closed above 1,000 for the first time on 25 July 1990. It has gained over 40 times in the last 30 years.
Source: https://www.bseindia.com/static/about/History_Milestones.html
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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.