morning update

    Indices at 10:00 am

      Nifty50 14,087 ▼ 45 (-0.3%)

        Sensex 48,036 ▼ 139 (-0.2%)

        Nifty Bank 31,133 ▼ 79 (-0.2%)

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In the news morning update

 

HDFC seeing strong loan offtake

·   Financial services major HDFC  continued to see improvement in its individual loan business in Q3, as disbursements grew 26% YoY. This was higher than the 9% growth seen in loan approvals in Q2. 

· Shares of HDFC were upbeat today, gaining 1.8% in an otherwise subdued market. In Q3, the stock rose 47%.
 

 

Bajaj Finance AUM contracts

·  Bajaj Finance booked 60 lakh new loans Q3 compared to 77 lakh new loans in the same period last year. Further, its assets under management stood at ₹1.43 lakh crore in Q3, a dip of 1% YoY. 

· Shares of Bajaj Finance rose over 60% in Q3. Today, the stock was down 1.1% and saw some profit-booking. 
 

 

National Fertilizers hits record production

       The state-owned fertilizer maker clocked its highest-ever production of urea at 9.9 lakh MT in Q3. It was also able to record its highest production of bentonite sulphur at 4,981 MT.

· Shares of NFL have been on an uptick over the last two months, gaining nearly 24%. The stock is up 9% today.

 

 

Sugar production rises in Q3

         Indian sugar mills produced 110.2 lakh tonnes of sugar during Q3, a rise of 42% YoY. 

· Typically, the increase in production put pressure on sugar prices. However, rising sugar prices in the global markets and opportunities to export sugar are expected to help sugar companies. Major sugar stocks were trading mixed as EID Parry was up (+1.2%), and  Balrampur Chini (-0.5%) and Shree Renuka (-0.8%) were down. 

 

 

Events in this week

           Wednesday: Services PMI (India), Crude oil inventories (US)

        Thursday: Initial jobless claims (US)

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Sectoral indices

Top gainers	Top losers
Nifty Media ▲ 0.8%	Nifty Metal ▼ 1.3%
Nifty IT ▲ 0.4%	Nifty PSU Bank ▼ 1.0%

 

Global markets	Today's movement
Nikkei 225 (Japan)	▼ 0.3%
Hang Seng (Hong Kong)	▼ 0.3%
SSE Composite (China)	▼ 0.0%
Dow Jones (US)	▼ 1.2%

Fact of the day

 

Remember seeing the ‘MRF’ sticker on Sachin Tendulkar’s bat? It stands for ‘Madras Rubber Factory’

Source: NDTV

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Investment in securities markets are 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.

 

Upstox Team 

Authorised Partner