See-saw

Nifty50: 17,812▲66 (+0.3%)
Sensex: 59,744 ▲142 (+0.2%)

• After a gap-up opening, the Nifty50 witnessed sharp volatility but managed to end on a positive note 
• It rose for the third week in a row with banks taking the lead. 
• As the result season begins, we could see stock-specific movements.
• Among the Nifty sectoral indices, Oil and Gas (1.2%) and Bank (0.6%) were the top gainers today. Meanwhile, Media (-0.8%) and Pharma (-0.3%) were the top losers.

For more updates on F&O, click here.

Here are the top stories of the day.

Titan shines bright

Shares of the jewellery and watch maker surged 3.5% intraday as it witnessed a strong 36% year on year rise in revenue in the December quarter. 

The festive season in the Oct-Nov period triggered a 37% growth in its jewellery segment. Meanwhile, watches (+28%) and eye wear (+27%) segments grew rapidly.  Its shares pared initial gains and closed 0.9% lower.

Dunzo delivered

Oil-to-technology to now ultra-fast commerce sector! Reliance Retail, a subsidiary of RIL, has invested $200 million for a 25.8% stake in Bengaluru based quick commerce startup, Dunzo.

Dunzo, with its instant delivery model, will expand its presence to 15 cities in India, from 7 cities currently. It will provide logistical support to Reliance Retail’s stores and facilitate last-mile deliveries for JioMart’s merchant network. 

Alembic Pharma gets USFDA nod 

Gujarat-based pharma major has received a tentative approval from the US Food and Drug Administration (USFDA) for Vortioxetine Tablets. The drug is used for the treatment of major depressive disorder.

According to IQVIA, Vortioxetine tablets have an annual market size of about $1.2 billion (₹9,300 crore). 

IPO corner 

Around 38 companies including Emcure Pharmaceuticals, AGS Transact Technologies, Go Airlines and MobiKwik Systems have received a nod from the market regulator to launch their respective IPOs. Of these, around 20 companies are likely to raise money in the current quarter. Also, with the insurance behemoth LIC’s IPO in the pipeline, experts believe that 2022 could also be a record year for IPOs. 

Good to know

What is unit economics?

Unit economics means a company’s revenue and cost in relation to an individual unit. The definition of a unit depends on the type of the business. For a telecom player, it could be average revenue per user (ARPU) to understand how much money is generated from each user, on an average. Similarly, for an airline, a unit might be a single seat sold. Analyzing a company’s financial performance with unit economics throws interesting insights and also helps in taking corrective actions. 

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