News Roundup and Market Update: 25/10/2021

News Roundup

▫️RIL posted blockbuster results, revenue up 50.7% and profit growth of 43%, year-on-year. (Beating expectations)

▫️Nykaa recieves SEBI approval for ₹5,200 crore IPO, bid to open on 28th October.

▫️Paytm gets SEBI nod for ₹16,600 crore IPO, and the Company plans to list itself as early as end of the month.

▫️Yes Bank’s net profit grew 74% year-on-year, thanks to lower provisioning.

▫️HDFC Life’s net profit fell by 16% owing to elevated claims, while net premium income grew by 14%, year-on-year.

▫️ ICICI Bank posted 30% jump in net profit, backed by net interest income growth and lower provisions, year-on-year.

▫️Gold imports touched a decade high of $23.9 billion in first half of the current financial year.

▫️ Corporate results this season has shown sharp growth in sales, however profits came subdued due to high input costs.

▫️ India’s natural gas output increased by 21% between Apr-Sep, owing to higher output from RIL.

▫️Cinema halls reopened in Maharashtra with 50% capacity on Friday.

▫️ Govt. plants to install 25,000 MW electricity storage system, to avert power crisis.

▫️ Govt. to step up 35 multi modal logistics park, under Bharatmala project.

▫️ Global oil major, Exxon Mobil is looking to buy stake in ONGC’s offshore fields.

▫️Adani Green Energy bags 450 MW green energy project.

▫️ Sembcorp Industries gets 180 MW wind energy project.

▫️ Deepak Fertilizers raised ₹510 crores via issue of shares to institutions.

▫️RBI tightens rules for NBFCs funding IPOs. NBFC can now only lend ₹1 crore per borrower for financing subscription to IPO.

▫️Demand for cars is high in India, but the chip shortage has led to supply constraint leading to long waiting period.

▫️In less than 18 months petrol price up by 36/litre.

▫️ World’s largest oil producer Saudi Arabia pledges to reach net zero emissions by 2050.

Market Update

▫️Indian markets fell for the consecutive 4th session, due to continued FPI selling, discouraging corporate results and inflation woes.

▫️Sensex and Nifty fell by 0.17% and 0.35%, to 60,822 and 18,115, respectively.

▫️ Market breadth was weak with 605 advances against 1208 declines.

▫️Metals, IT, Pharma and FMCG dragged tha markets. Whereas, gains in financial sector and real estate supported the indices.

▫️Ruppee ended flat with gain of 3 paise at 74.89.

▫️ Inflation concerns and strong festive demand, led to sharp rise in gold prices at ₹47,800.

▫️ Supply constraint and steep economic recovery, led crude to soaring high levels. WTI Crude is trading around $85 mark. (We don’t remember when we last saw this level of WTI Crude)

▫️Dow Jones closed at record high on Friday, while Nasdaq and S&P closed in red, after Fed assured that it is on track for bond tapering.

▫️Dow Futures are trading flat this morning. This week Amazon, Google, Apple and Microsoft will report their results, which will guide the US markets.

▫️Asia opened in positive territory today, SGX Nifty is also indicating good start for the markets.

▫️Stocks in ban: ESCORTS, IBULHSGFIN, IDEA, IEX, PNB and SAIL

▫️ Key results today: Tech Mahindra, HDFC AMC, Aditya Birla AMC, Ceat and Colgate.

This is for educational purposes only.

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