Nifty, Sensex Gains Fresh Strength from positive corporate actions and results – Wednesday closing report
Moneylife Digital Team 13 October 2021
We had mentioned in Tuesday’s closing report that Nifty, Sensex may move sideways. On Friday, the indices opened higher and ended with major gains. On the NSE, there were 1,035 advances, 952 declines and 78 remained unchanged.
 
The trend of the major indices on Wednesday’s trading are given in the table below:
 
 
TPG Rise Climate and Abu Dhabi’s ADQ will invest Rs 7,500 crore (around $1 billion) in Tata Motors new subsidiary which will make electric vehicles (EV). The investment values “TML EV Co” close to $ 9.1 billion.  The investment will be done through a compulsory convertible instrument to secure 11-15% stake.
 
Wipro, announced its Q2FY22 results after market hours. It has reported consolidated profit of Rs 2,930 crore as compared to Rs 3,242.6 crore in the Q1FY22.  The decline in profits is due to wage hike Capco acquisition.
 
Mindtree reported its Q2FY22 earnings, its net profit was at Rs 399 crore up 16.2% as compared to Q1FY22 and revenue was at Rs 2,586.2 crore up 12.8% from previous quarter. Its margin improved by 40 bps from 17.7% to 18.1% Q-o-Q. 
 
Infosys Q2FY22 revenue stood at Rs 29,602 crore compared with Rs 27,896 crore in previous quarter and its net profit was at Rs 5,421 crore as compared to Rs 5,195 crore in Q1FY22 up by around 11.9%. Its margin decreased by 10 bps to 23.6%. Approves dividend of Rs 15 per share.
 
Bhansali Engineering Polymers reported revenue at Rs 374.84 crore in Q2FY22 up 21.76% from Rs. 307.85 crore in same quarter last year. Its EBITDA is at Rs. 167.09 crore in Q2FY22 as compared to Rs. 48.02 crore QFY21.
 
International Monetary Fund (IMF), projects Indian economy to grow by 9.5% this year and 8.5% in 2022. 
 
NexWafe GmbH (NexWafe) announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its EUR 39 million ($45 million) Series C financing round with an investment of EUR 25 million ($29 million) in phase one.
 
Government has cut customs duty and agriculture cess on the edible oils; crude sunflower oil to nil, on refined sunflower oil to 17.5 percent and on crude palm oil to nil.
 
RBI has authorized Karur Vysya Bank to collect direct taxes on behalf of CBDT, the Bank has initiated the integration process.
 
The top gainers and top losers of the major indices are given in the table below: 
 
 
The closing values of the major Asian indices are given in the table below:
 
Comments
Thyrocare: Will Change of Management Bring Faster Growth?
Moneylife Digital Team 13 October 2021
Thyrocare Technologies Ltd (Thyrocare) is the fourth-largest diagnostics chain in India and third-largest among listed players. It specialises in ‘low-cost business model’ that provides quality service at cost-effective prices....
Saregama India Ltd: September ’21 Results Update
Moneylife Digital Team 12 October 2021
Saregama India Ltd (SIL) announced its results for Q2FY21-22 on 11 October 2021. We had discussed SIL’s music licensing business in detail in April 2021 (https://bit.ly/3iUODIT).  SIL’s net sales grew 38% quarter-on-quarter (q-o-q)...
Special Situation: Is There Value in Kamdhenu Demerger?
Moneylife Digital Team 12 October 2021
Kamdhenu Ltd (KL) manufactures steel products and decorative paints. It has announced the demerger and listing of its paints business into a separate entity, Kamdhenu Ventures Ltd (KVL). The scheme of arrangement has been approved...
Weekly Moneylife Indices & Sector Trends
Moneylife Digital Team 09 October 2021
INDIAN MARKET TRENDS
From 1st October to 7 October 2021, ML Small-cap Index and ML Micro-cap Index rose 4% each. ML Mid-cap Index rose 3%. ML Large-cap Index, ML Mega-cap Index and the Sensex rose 2% each. The NIFTY rose...
Free Helpline
Legal Credit
Feedback