Indices at previous closing
Nifty50: 16,238 ▼ 56 (-0.3%)
Sensex: 54,277 ▼ 215 (-0.3%)
Nifty Bank: 35,809 ▼ 25 (-0.0%)
In the news
Two IPOs to open today
The IPO party continues this week on the D-street with two more IPOs set to open for subscription today. The multichannel auto platform CarTrade Tech, which operates various brands including CarWale and BikeWale, will launch a ₹2,999 crore IPO today. The price band for the issue is ₹1,585-₹1,1618.
Also, India’s fifth largest cement maker Nuvoco Vistas Corporation’s IPO will be open for subscription today. The price band for the ₹5,000 crore issue is ₹560-₹570. You can apply for these IPOs here.
Divi’s Lab reports strong Q1 profit
The Hyderabad-based pharma major reported a net profit of ₹552 crore in the June quarter, up 12% year-on-year. The company’s healthy profit growth was aided by a double-digit rise in total revenue and forex gain.
The company’s total revenue grew around 15% YoY to ₹1,986 crore. It also made a forex gain of ₹20 crore in June 2021. Shares of Divi’s Lab were flat on Friday but the results were announced on Saturday. So far this fiscal, its shares have risen 35%, nearly double the rate at which Nifty Pharma has gained.
Nalco sees strong demand in Q1
In Q1FY22, India’s leading aluminium producer reported a net profit of ₹347 crore, a sharp jump over the low base of ₹16 crore in Q1FY21. In the same period, the company’s revenue also rose 79% year-on-year to ₹2,474 crore.
The company said that the sharp rise in revenue was driven by strong demand, higher volumes, better realization and effective capacity utilization. Shares of Nalco were down 2% on Friday but the results were announced post market hours.
Sectoral indices (August 6)
| Top gainers | Top losers |
| Nifty IT ▲ 0.3% | Nifty Media ▼ 0.9% |
| Nifty Private Bank ▲ 0.2% | Nifty Realty ▼ 0.9% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.3% |
| Hang Seng (Hong Kong) | ▼ 0.1% |
| SSE Composite (China) | ▼ 1.7% |
| Dow Jones (US) (August 6) | ▲ 0.4% |
Fact of the day
Chinese Consumers spent a whopping $127 billion (equivalent to the annual GDP of Kuwait) during the Lunar New Year week (11–18 Feb) in 2021.
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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.