Previous closing (8 February 2021)
Nifty50: 15,115 ▲191 (1.2%)
Sensex: 51,348 ▲617 (+1.2%)
Nifty Bank: 35,983 ▲329 (+0.9%)
In the news
Godrej Consumer forecasts double-digit growth
- FMCG major Godrej Consumer Products posted a 10% YoY growth in consolidated revenues, which stood at ₹3,055 crore in Q3. Its net profit rose 13% YoY to ₹503 crore.
- The growth was driven by the hygiene (soaps, handwash) and value-for-money (hair colour) business segments, which grew 19% and 22%, respectively. The company expects to maintain double-digit sales growth in the medium term. Its stock lost about 2% yesterday.
BPCL announces bumper profit and interim dividend
- State-owned refiner BPCL posted a 120% YoY rise in its net profits to ₹2,777 crore. The profits were boosted by a nearly three-fold rise in other income to ₹1,514 crore, which include forex gains.
- Its revenues showed a meagre growth of 1.5% to ₹86,579 crore. The company has declared an interim dividend of ₹16 per share, which translates to a yield of 3.8% based on yesterday's closing price of ₹420.
BEL signs pact for naval comms project
- The Bengaluru-based defence and aerospace company has signed a ₹1,000 crore deal with the defence ministry for a ship-based, tactical radio communications system.
- As per reports, the technology is intended to serve ship-to-ship, ship-to-shore and ship-to-air voice and data communication. BEL shares are up about 8% so far in February.
Tesla to accept Bitcoin payments
- Electric carmaker Tesla Inc. said that it has invested close to $1.5 billion in Bitcoin and would also accept it as a payment for its cars and other products.
- It would be the first major auto company to do so. The announcement triggered a rise in the price of Bitcoin and other cryptocurrencies.
Events of the week
- Wednesday: Crude oil inventories (US)
- Thursday: Initial jobless claims (US)
- Friday: Consumer Inflation, IIP (India)
Sectoral indices (Previous closing)
| Top gainers | Top losers |
| Nifty Metal ▲ 3.1% | Nifty PSU Bank ▼ 1.0% |
| Nifty Auto ▲ 3.1% | Nifty FMCG ▼ 0.5% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.3% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) | ▲ 0.5% |
| Dow Jones (US) (8 Feb) | ▲ 0.7% |
Fact of the day
The great banyan tree of Kolkata is so massive (156,000 sq. feet) that it is over 3 times bigger than an average D-Mart store (46,000 sq. feet)
Source: Culture Trip
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