Stock morning update 29 january 2021
Indices at 10:00 am
Nifty50 13,837 ▲ 19 (+0.1%)
Sensex 46,912 ▲ 38 (+0.0%)
Nifty Bank 30,430 ▲ 71 (+0.2%)
STOCK MORNING UPDATE
In
the news
TVS posts record revenues in Q3
Strong festive sales, high rural demand and a rebound in exports helped pick up in sales. During the quarter its domestic 2 wheeler sales grew at 21% beating industry growth rate of 13%. Its stock surged 8.2% today and has gained over 20% so far in this month.
Interglobe posts 4th straight quarterly loss
The operator of
India's largest domestic airline Indigo reported a net loss of ₹620 crore in
Q3, against a net profit of ₹496 crore in the same period last year. Revenue
from operations improved QoQ to ₹4,910 crore, but was 50% lower YoY.
While travel
restrictions may have put the entire airline sector into losses, Indigo seems
to be better placed with a war-chest of nearly ₹18,000 crore in total cash
balance. The stock was trading flat today.
IRCTC’s Q3 profits plunge
The railway catering
body reported a 62.1% YoY decline
in its Q3 profit which stood at ₹78 crore. However, on QoQ basis the profits
rose 144%. A similar trend followed in the company’s revenue figures, which
declined 68.6% to ₹224 crore. However, the revenues rose 154% on a sequential
basis.
Covid-induced travel
restrictions were the main reason for the drop in YoY performance. The stock
traded 0.8% higher today.
Bluedart posts strong profits in Q3
The logistics company
recorded a profit of ₹95.3 crore compared
to a net loss of ₹31.9 crore. It reported revenue from operations of ₹1,037.1
crore, up 21% YoY.
The company credited
the rapid scaling up of deliveries in sectors viz. e-commerce, pharmaceuticals,
consumer electronics as the main reasons for the surge in business. The stock
traded 1.5% higher today.
India’s GDP could grow
as fast as 11% in FY22, reports
suggest. The International Monetary Fund also predicts growth of 11.5% for
India. This pace would make India the fastest-growing major economy in the
world, ahead of China, which is set to grow at 8.1%.
The optimism stems
from the belief that vaccine rollout will contain the pandemic, while softer
interest rates and pro-growth measures from the government will accelerate
business activity. It’s worth noting that the FY22 numbers will be on top of a
lower base of a 7.7% contraction.
Events this week
Friday: Economic
Survey 2020-21 (India), Pending home sales (US)
Sectoral
indices
|
Top gainers |
Top losers |
|
Nifty Realty |
Nifty Pharma |
|
Nifty Auto |
Nifty FMCG |
|
Global markets |
Today's movement |
|
Nikkei 225 (Japan) |
▼ 1.4% |
|
Hang Seng (Hong Kong) |
▲ 0.3% |
|
SSE Composite (China) |
▲ 0.2% |
|
Dow Jones (US) |
▲ 0.9% |
Fact of the day
94%
of the world’s population recognizes Coke’s red and white logo
Source: Strategicfactory
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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.
Labels: Morning Update
posted by JAVED CHILLIMUTTUR @ January 29, 2021
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