Indices at previous closing
Nifty50: 14,724 ▲ +106 (+0.7%)
Sensex: 48,949 ▲ +272 (+0.5%)
Nifty Bank: 32,827 ▲ +44 (0.1%)
In the news
Adani Transmission posts bumper profits
- Ahmedabad based electricity transmission company reported consolidated revenue of ₹2,276 crore up 3% YoY. However, its net profit rose sharply by 333% to ₹257 crore, mainly due to a ₹200 crore regulatory deferred income.
- In FY21, it increased its transmission network by about 17% to 17,276 circuit kms. Further, it aims to reach 20,000 circuit kms of transmission lines by 2022. The stock rose 4% yesterday. However, the results were declared after market hours.
Tata Consumer’s profit misses estimates
- The maker of brands like Tata Tea and Tata Salt reported a consolidated net profit of ₹74 crore in Q4FY21 against a net loss of ₹122 crore in the year-ago period. However, the profit missed the street estimate of ₹188 crore due to a one-time expense of ₹64 crore.
- Meanwhile, its operating revenue rose 26% YoY to ₹3037 crore, beating analyst estimates of ₹2,856 crore. Revenues from the beverages business grew 60%, driving the overall growth. The stock closed 0.6% higher today, but the results were announced after market hours.
Deepak Nitrite hits lifetime high on strong Q4
- The Gujarat-based chemicals maker reported consolidated revenue from operations of ₹1,463 crore, up nearly 39% YoY. At ₹290 crore, profit after tax grew 68% YoY.
- The growth in Q4 was driven by a 76% rise in the company’s phenolics business, which generated ₹937 crore in revenue. The stock hit its lifetime high of ₹1,988 intraday but shed gains and closed 0.7% down. However, it has doubled since the start of 2021.
Praj Industries’ profits surge
- The Pune-based bio-technology and engineering company grew its income from operations by over 91% YoY to ₹567 crore in its latest quarter. Profit after tax more than doubled to ₹52 crore.
- Its total order book as of March 2021 stood at ₹1,748 crore, up over 60% YoY. The stock closed 1.8% lower yesterday. However, it has returned over 116% returns so far in 2021.
Sectoral indices (6 May)
| Top gainers | Top losers |
| Nifty Metal ▲ 2.5% |
Nifty PSU Bank ▼ 1.1% |
| Nifty IT ▲ 1.8% |
Nifty Pharma ▼ 0.2% |
Global markets (at 8:15 am)
| Indices | Today's movement |
| Nikkei 225 (Japan) |
▲ 0.2% |
| Hang Seng (Hong Kong) |
▲ 0.4% |
| SSE Composite (China) | ▲ 0.2% |
| Dow Jones (US) (6 May) |
▲ 0.9% |
Fact of the day
Microsoft’s encyclopaedic software Encarta was discontinued in 2009, and its demise is often attributed to Wikipedia.
Source: New York Times
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Investments 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.