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Stock Markets at a Glance:
Indian stock markets remain volatile today, as Nifty dropped 240 points from its day’s high and later recovered during the last hour of trading session over the news of next stimulus package by finance ministry. It managed to close around 11937.65, 0.34% higher than yesterday’s closing price. Sensex too managed to grow by 162.94 points and settled at 40707.31.
Boom in realty sector stocks continued today also with Nifty realty surging by 4.36%. Nifty Metal, Bank and Financial Services also gained well. On the other hand, FMCG, Media, IT and Auto sector indices ended in red.
Top Gainers/Losers in today’s Stock market:
PowerGrid, Bharti Airtel, Tata Steel, Hindalco and GAIL were among the top performers in today’s market. While Britannia, TCS, SBI Life Insurance, Hero Motocorp and Nestle India were among the top losers today.
DII/FII Data:
DIIs did a massive sell-off and took away Rs.1633.53 crore. On the other hand, FII were on buying mode and invested Rs.2108.48 crore.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 21-Oct-20 | 3,951.48 | 5,585.01 | -1,633.53 |
| FII/FPI | 21-Oct-20 | 8,448.11 | 6,339.63 | 2,108.48 |
Ultra Tech Cement Q2: profit rises by 113%, net sales up by 7.8% on YoY basis
After strong Q2 performance by ACC cement, its competitor Ultra Tech also performed well by posting Q2 profit of Rs.1234 crore, which is 113% higher than profit generated during same period of last year. Company’s net sales grew by 7.8% to Rs.10231 crore from last year’s 9486 crore.
Its operating margin stood at 27%. The cement manufacturer expects demand for cement to grow on the back of the government’s thrust on infrastructure and the expanding rural economy. Its stock closed around 2% higher at Rs.4631.95 responding to the stellar Q2 performance.
Weak Q2 performance by Bajaj Finance, profit declined by 35.94% YoY:
Bajaj Finance posted a drop of 35.94% in its YoY net profit for the quarter ended on September 30, mostly due to increase in provisions for bad loans. Net profit fell stood at Rs.964.88 crore, which is significantly lower than last year same period’s profit of Rs.1506.29 crore. Net Interest Income (NII) increased by 4% to Rs.4165 crore on YoY basis.
Its provisions for bad loans in September quarter was Rs 1,700 crore, which is 3X compared to Rs.594 crore in corresponding period of last year. Shares of the company closed 0.31% lower today on NSE at Rs.3252.
Colgate Palmolive Q2 profit surge by 12.3%, also declares dividend of Rs.18 per share:
Toothpaste manufacture, Colgate Palmolive reported profit of Rs.274.2 crore which is 12.3% higher than its last year’s profit of Rs.244.1 crore. Company’s revenue was also up by 5.2% to Rs.1286 crore.
Company’s board also declared an interim dividend of Rs.18 per share. But this doesn’t seem to excite the Dalal street as Colgate’s share price plunged by 2.4% and closed at Rs.1426.
Stock market Quick Bytes:
- Retail quota of Equitas small finance bank got 136% subscribed on day two. Overall subscription stands at 64%.
- FDI up by 16% to $27.1 billion in April-August quarter: Ministry of Commerce and Industry
- Central government will disburse bonuses of Rs.3737 crore to 30 lakh non-gazetted central government employees on immediate basis, to boost demand in economy during festive season.
- Reliance Jio and Qualcomm Technologies have successfully tested indigenous 5G mobile network in India and able to achieve 1Gbps speed.
- Q2 Results today: Bajaj Finance, Bajaj Finserv, UltraTech Cement, Chennai Petroleum Corporation, Colgate-Palmolive, Syngene International, Asian Tea & Exports, Arihant Superstructures, Agro Tech Foods, Avantel, Bliss GVS Pharma, DB Corp, GMM Pfaudler, Indo Count Industries, JK Tyre & Industries, KPIT Technologies, National Peroxide, Newgen Software Technologies, Sagar Cements, Sasken Technologies, SE Power, Shanthi Gears and Tejas Networks
- Q2 Results Tomorrow: APL, Bajaj Auto, Asian Paints, Bajaj Holdings, Coforge, Biocon, HDFC AMC, Crompton Greaves Consumer, Mphasis and SBI Cards will come out with their numbers.