News Bulletin, Market Analysis and Results Corner: 3/11/2021

News Bulletin

▫️ Logistics startup Delhivery filed its DRHP with SEBI for $7,400 crore IPO, seeking valuation of $5.5 billion.

▫️IL&FS has so far resolved ₹52,200 crore of debt and is on track to resolve additional ₹4,800 crore of debt.

▫️Edible prices has been cut down by upto ₹7 per litre.

▫️India to acquire military equipment worth ₹7,965 crore and 12 military helicopter from HAL.

▫️Nifty clocked its best ever return of 18.73% in samvat 2077, in last 12 years.

▫️Banks have have sanctioned loan of ₹63,574 crores via credit outreach program of the government.

▫️ Competition Commission of India, approved the acquisition of Exide Life Insurance by HDFC Life.

▫️Before the IPO, Ola reports first ever operating profit of ₹89.82 crore for FY21.

▫️ Hiring activity increased by 43% YoY in October. However, on sequential basis it declined by 8.4%.

▫️ Sapphire foods India, operator of KFC and Pizza Hut, to come with ₹2,073 crore IPO at a price band of ₹1,120 – 1,180.

▫️Chola Finance to invest €2 million in its Italy arm, Mind Srl.

▫️SBI offers pre approved 2 wheeler loan on its mobile app, up to ₹ 3 lakhs.

▫️ Gold sales are expected to cross pre pandemic levels, driven by stable prices and pent up demand.

▫️ Textile industry is concerned about skyrocketing price of cotton, seeks government intervention.

Market Analysis

▫️ Sensex and Nifty failed to continue the uptic and ended the day with losses after a firm opening as investors turned cautious over weak global sentiment.

▫️Bank of England and Federal Bank have their respective meetings coming this week where they could announce an end to loose monetary policy.

▫️Sensex ended 0.18% lower at 60,029. Nifty50 declined by 0.23% to 17,889.

▫️IT, Oil and Gas, Commodities and Metal dragged the market. PSU Bank, Realty, Consumer Durable and Healthcare supported the market.

▫️The market breadth was strong. On the BSE, 1,959 shares rose and 1,294 shares fell. A total of 148 shares were unchanged.

▫️Broader markets performed well as mid and small cap indices ended in green.

▫️Gold remained below ₹48,000 levels, awaiting the Fed Meet’s outcome.

▫️Ruppee gained 19 paise to close at 74.68, supported by IPO related foreign inflows.

▫️Crude oil inventory of the US increased for 6th straight week leading to more than 1.5% fall in prices. WTI Crude oil is currently trading at $82.6.

▫️Dow Jones jumped by 0.4% and closed at record high for the 3rd consecutive session ahead of the Fed Meet’s outcome.

▫️Today morning US futures are trading marginally weak. Asia and SGX Nifty has opened flat.

▫️Stock in F&O ban: Escorts and PNB.

▫️Key results today: Aditya Birla Fashion, Bata India, Eicher Motors, Pfizer and SBI.

Results Corner (YoY unless stated)

▫️Bharti Airtel posted 18.8% increase in revenues to ₹28,326 crore. Net profit jumped by 300% to ₹1,134 crore aided by one gain on spectrum sale of ₹722 crore to Jio. ARPU jumped to 153 from 143. Airtel is now bank debt free in India. Results beat street estimates and the management commentary was also positive.

▫️JSPL profit boosted 3 fold to ₹2,584 crore, mainly due to 64% rise in revenue to ₹13,615 crores.

▫️Sun Pharma posted 13% rise in net profit to ₹2,047 crores, on back of robust sales across markets. Sun pharma has given positive commentary on its future outlook.

▫️Dabur net profit jumped by 4.6% to ₹505.3 crores backed by double digit volume growth. Revenue was up by 12% to ₹2,817 crores. The company said operating environment remained challenging due to unprecedented inflation.

This is for educational purposes only.

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