Indices at 10:00 am
Nifty50 14,576 ▲ 55 (+0.3%)
Sensex 49,562 ▲ 163 (+0.3%)
Nifty Bank 32,431 ▲ 6 (+0.0%)
In the news
Ceat zips ahead on Q3 profits
- The RPG Group-owned tyre company reported consolidated net sales of ₹2,212 crore in Q3, a YoY improvement of 26.1%. Its profits rose over 150% YoY to ₹132 crore.
- The company attributes the growth to new capacities across segments, particularly passenger car, two-wheeler and farm segments. It also reduced debt by ₹260 crore during the quarter. For Q4, margins may be under pressure due to increasing raw material prices. Shares of the tyremaker gained 2.6% today.
Tata Communication sees flat revenue growth
- Shares of Tata Communication declined over 7.0% today after the company posted Q3 revenues of ₹4,223 crore, nearly unchanged from the same period last year.
- Its net profit rose four-fold to ₹309 crore mainly driven by the data business, which contributed 98% of the overall EBITDA. Its shares gained over 175% in 2020 and are now showing signs of profit booking.
DCM Shriram revenues decline
- Chemicals maker DCM Shriram reported a 2% YoY decline in revenues to ₹2,159 crore, mainly due to lower chemical prices and lower sugar exports. However, its profit after tax rose nearly 45% YoY to ₹253 crore.
- Improvement in profitability was a result of higher PVC prices and volumes along with superior earnings in the distillery business. The company has lined up investments worth ₹1,000 crore in downstream chemical products to be executed in the next two years. Its shares gained nearly 1% today and gained about 9% in Q3.
Tata Metaliks profits rise on improved margins
- Owing to higher margins in pig iron (PI) and ductile iron (DI), Tata Metaliks’s Q3 profits rose 55% YoY to ₹758 crore. At ₹526 crore, consolidated net revenues grew by a more modest 1.5% during the same period.
- The subsidiary of Tata Steel makes PI and DI pipes. Its shares gained 0.6% today, and have risen about 36% in January.
Events this week
- Wednesday: Indigo Paints IPO opens (India)
- Thursday: Home First Finance IPO opens (India), Initial Jobless claims (US)
Sectoral indices
| Top gainers | Top losers |
| Nifty IT ▲ 2.4% |
Nifty FMCG ▼ 0.0% |
| Nifty Auto ▲ 1.0% |
NA |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.5% |
| Hang Seng (Hong Kong) | ▲ 0.2% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (15 Jan) |
▲ 0.3% |
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