Good morning!
Here are the top stories to start your day.
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⭐ P&G reports robust numbers
The FMCG major reported a net profit of ₹165 crore for the quarter ended 31 March 31 2023. The profit reflects a growth of 60% YoY compared to ₹102.8 crore of the previous year. The company also reported net sales of ₹883 crore for the quarter which was 1% lower than ₹889 crore of last year.
⭐ Nexus Select Trust IPO Day 2
The Nexus Select Trust REIT IPO has been subscribed 57% on the second day of the ₹3,200 crore initial public offering. The qualified institutional buyers share was subscribed 17% while the non-institutional investor category was fully subscribed.
⭐ Krishna Defence secures new order
Equipment maker Krishna Defence (+3.1%) has bagged an order from the Ministry of Defence worth ₹63.48 crore. The order is for the supply of special heating equipment to be used by Indian armed forces at high altitudes. The company will execute this order over the next 12 months.
Global markets (at 9:15 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.03% |
| Nikkei 225 (Japan) | ▼ 0.03% |
| Hang Seng (Hong Kong) | ▼ 0.19% |
| SSE Composite (China) | ▼ 0.11% |
| Dow Jones (US) (May 10) | ▼ 0.09% |
| NYSE (US) (May 10) | ▼ 0.09% |
| Nasdaq (US) May 10) | ▲ 1.04% |
| S&P 500 (US) (May 10) | ▲ 0.45% |
Fact of the day
India's semiconductor market is expected to touch $64 bn by 2026.