Good morning, people!
No prizes for guessing who was high on josh on Monday. Yes, the investors. Meanwhile, Delhites got relief from scorching heat with a heavy downpour. Not a bad way to start the week. Keeping an optimistic attitude, here are the top stories to begin your day.
For more updates on F&O, click here.
⭐ Sun fades 😞
Mumbai-based Sun Pharmaceuticals reported a net loss of ₹2,277 crore, as compared to a profit of ₹894 crore in Q4FY21. The loss was on the back of exceptional items worth ₹3,936 crore. Meanwhile, consolidated sales were up 15.6% YoY at ₹38,426 crore.
⭐ GAIL goes green ✅
GAIL India will invest ₹6,000 crore on renewables in the next three years. According to the management, the investment can increase to ₹20,000 crore by 2030 with a capacity of almost 3 gigawatts. In Q4, the company recorded net profit growth of 41% to ₹2,683 crore, with a 73% hike in revenues that stood at ₹26,968 crore.
⭐ Jubilant’s profit takes a dip 🍕
Domino’s Pizza franchisee Jubilant Foodworks reported an 8.8% YoY decline in its consolidated net profit to ₹96 crore. The operating revenue stood ₹1,176 crore, up 13% YoY. Apart from the 80 new Dominos Pizza restaurants, the company also opened more outlets of Popeyes, Dunkin’ Donuts, Hong’s Kitchen, and Ekdum! during the quarter.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▲ 0.06% |
| Hang Seng (Hong Kong) | ▲ 0.06% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (May 27) | ▲ 1.7% |
| NYSE (US) (May 27) | ▲ 1.7% |
| Nasdaq (US) (May 27) | ▲ 3.3% |
| S&P 500 (US) (May 27) | ▲ 2.4% |
Fact of the day
India’s first solar ferry, which was launched in Kerala, can carry 75 passengers and make 22 trips on a single charge.
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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.
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