▫️RBI Governor Shaktikanta Das has been reappointed for a term of 3 years.
▫️Adani Group acquired minority stake in Cleartrip.
▫️Voda Idea confirmed its acceptance for 4 year moratorium on AGR dues.
▫️High Court dismissed Future Retail’s plea against Singapore arbitration tribunal decision, which halted its merger with Reliance Retail.
▫️ Interest on EPF deposits left unchanged at 8.5%.
▫️Fiscal deficit for 1H’2022 was comfortable at 35% of budgeted estimate (3-year low).
▫️Govt. rolled back plan to share convenience fee from IRCTC.
▫️ Core sector output growth slowed down to 4.4% in September, from 11.5% in August.
▫️10 year government bond yields increased by 5 bps in 2 days due to enhanced supply.
▫️Nykaa IPO was subscribed 4.82 times on 2nd day.
▫️Non-Food bank credit credit grew 6.8% in September.
▫️ Jio phone will be in stores for sale from Diwali, confirmed RIL.
▫️ Tata Power and Tata Steel to jointly develop 41 MW solar plant in Odisha.
▫️DLF to build 2 million square feet, office space in Gurugram.
▫️The $4.1 conglomerate Godrej Group to be split between the brothers.
▫️ Facebook renamed itself as Meta.
▫️Coal futures fell sharply in China as government announced further price cuts for the commodity.
▫️Tyre manufacturers to increase prices as input cost rises (JK and Apollo tyres).
▫️ Maruti’s production to get hit during the November, due to supply constraints. The Company had more than 2 lakh customer pending orders at the end of September quarter.
▫️SEBi warned Vedanta for related party transaction of ₹1,407 crores.
▫️Indigo mulls raising ₹3,000 crore from banks.
▫️ Five IPOs to hit market in 1st half of November and raise ₹27,000 crore in aggregate.
▫️Ola has extended next purchase window to December 16, in a bid to fulfill its past orders.
▫️Zydus Cadilla to reduce its covid vaccine price to ₹256/jab.
▫️Domestic market tumbled for 3rd consecutive session on Friday. Negative global cues and relentless selling by FPIs were the prime culprits.
▫️FPIs have been net sellers of Indian equities to the tune of ₹20,000 crores in October.
▫️Sensex and Nifty ended ata 59,307 (- 1.13%) and 17,672 (-1.04%), respectively. However, midcap and small cap indices fell lower than the frontline benchmarks.
▫️Sectorally, IT, technology, bank, financial services and utilities fell the most. While realty, health and auto ended with modest gains.
▫️Market breadth was negative, as 721 stocks rose and 1091 stocks fell. The only positive to take from Friday’s market was 2.74% dip in Volatility index.
▫️ Indian markets have a long history of falling on the month preceding muhrat trading, which is usually followed by bullish month.
▫️Gold prices slipped below to 48,000 mark due to stronger ruppee.
▫️Indian ruppee gained 4 paise to close at weekly high of 74.88.
▫️ Crude oil prices have stayed flat during the week end. Today morning WTI Crude is trading at $83.30.
▫️Dow Jones ended on a positive note on Friday, with bullish American economic recovery. However, disappointing results by Apple and Amazon did hurt the US investor sentiment to a certain extent.
▫️This morning US futures are trading in green. Asia has opened mix, whereas SGX Nifty is indicating positive start for Indian bourses for the Diwali week ahead.
▫️Stock in F&O Ban: PNB.
▫️Key results today: Aditya Birla Capital, Bajaj Consumer, HDFC, IRCTC, Relaxo and Tata Motors.
Results Corner (YoY)
▫️ SAIL reported ten fold jump in net profit to ₹4,338 crores, and 58% hike in revenue.
▫️Bandhan Bank reported ₹3,009 crore loss in Q2’22 compared to ₹920 crore profit in Q2’21, as the lender saw huge spike in bad loans. Gross NPA increased to 10.82%.
▫️Vedanta net profit jumped multifold from ₹838 crores to ₹4,615 crores. Revenue surged by 43%. Good results were due to high commodity prices.
▫️GAIL profit improved 131% and revenue 57%.
▫️Dr. Reddy’s net profit jumped 30% to ₹992 crores.
▫️Escorts net profit declined by 24% due to lower sales and higher input costs.
▫️UPL net profit surged by 36.4%, thanks to good sales.
This is for educational purposes only.