Morning Update for 9 April 2021

Indices at previous closing

Nifty50: 14,873 ▲ +54 (+0.3%)
Sensex: 49,746 ▲ +84 (+0.1%)
Nifty Bank: 32,782 ▼ -208 (-0.6%)

In the news

Auto registrations see growth in March

• As per the Federation of Automobile Dealers’ Association, passenger vehicles and tractor registrations grew by 28.3% and 29.2% YoY in March 2021. This surge is the result of a low base, transition from BS4 to BS6 and the lockdown. 
• As per reports, the pandemic has reportedly pushed 32 million Indians out of the middle class, which translated to a 35.2% YoY de-growth in two-wheeler sales. Meanwhile, commercial vehicle registrations witnessed a steeper 42.2% de-growth, primarily due to high BS-6 prices and low finance availability. The Nifty Auto index has fallen 3% in March but has risen 8% so far in 2021. 

Kalyan Jewellers strong on Q4 revenue growth

• The leading jewellery retailer delivered 60% revenue growth in Q4, albeit on a lower base of Q4FY20. As per the company, the robust growth was driven by a shift in consumer demand from unorganised to the organised segment. 
• Further, apart from 9 stores in Maharashtra that are under Covid restrictions, all its stores in India (a total of 107) are operational. Its shares rose 4% yesterday, but were trading 16% below their issue price. The stock was listed on 26 March 2021. 

Hester Bio surges after agreements for 2 vaccines

• The leading animal healthcare company has signed two agreements for acquiring technologies for the production and commercialisation of two veterinary vaccines.
• The vaccines are the first to be developed in India by using locally isolated strains for protection against Classical Swine Fever and Sheep Pox. The stock gained over 9% yesterday and has risen over 29% so far this year.

Macrotech Developers IPO closes today

• The ₹2,500 crore public issue of Macrotech Developers (Lodha Developers) garnered 35% subscription on day 2 of its IPO. While its retail quota has been subscribed 25% so far, institutional investors have bid for 65% of their portion. 
• The IPO has a price-band of ₹483-486 and a lot size of 30 shares. Today is the last day for subscription, and you can apply for the IPO with Upstox here.

Sectoral indices (8 April)

Global markets (at 8:45 am)

Titan Company was started as a joint venture between Tata Industries and the Tamilnadu Industrial Development Corporation (TIDCO) in June 1984. Even today, TIDCO owns 27.88% of

the company. The company’s market capitalization stands at nearly ₹1.4 lakh crore. 

Source: Titan, BSE

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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.