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Today’s Share Market at a Glance:
Indian share markets managed to end in green today with key support from Auto sector stocks. Nifty moved upward by 33.9 points and closed around 11930, while Sensex soared by 127 points and settled around 40685.5.
Along with Nifty auto, Media, IT, Metal and PSU Bank sector stocks showed some green movement. Pharma and Realty sectoral indices ended in red. Overall market outperformed benchmark indices, as Nifty Mid-cap and small-cap grew around 0.6%.
Top Gainers/Losers in Share Market Today:
Auto majors like Maruti Suzuki, Mahindra & Mahindra and Bajaj Auto along with Tata Steel and PowerGrid were the top winners in today’s share market. On the other hand, Ultra tech cement, HCL Technologies, Hindustan Unilever, GAIL and Hindalco took the most beatings.
DII/FII Data:
Today’s DII/FII data is not yet updated on NSE website.
Yes Bank reports a net profit of Rs.129.37 crore, asset quality improves:
Private sector Yes bank reported a net profit of Rs.129.37 crore for the quarter ended on September 30. The bank had posted a loss of Rs 600.08 crore in the corresponding quarter last year.
Provisions for bad loans declined 11.1% on YoY basis to Rs.1187 crore. But it rose by 9.3% on QoQ basis. Net Interest Income (NII) declined by 9.7% on YoY basis to Rs.1973 crore. Net Interest Margin stood at 3.1% in Q2 against 2.7% in last year’s same quarter. Cost to income ratio declined to 49.30% from 53.40%.
The stock price closed 4.72% higher at Rs.13.3.
Walmart-backed Flipkart to invest Rs.1500 crore in Aditya Birla Fashion & Retail:
Flipkart will invest Rs.1500 crore to acquire 7.8% stake in Aditya Birla Fashion & Retail ltd (ABFRL). ABFRL has network of 3004 retail stores and own popular brands like Pantaloons, Allen Solly and Peter England. This deal will strengthen Flipkart’s fashion segment as well as its subsidiary Myntra’s position in e-commerce segment.
ABFRL share price rallied up by 7.5% and closed at Rs.165. It will allocate preferential shares to Flipkart costing Rs.205 per share. Many news channels also reported that Amazon is also in talks with ABFRL to acquire stake in it.
This is second investment by Flipkart in offline fashion retail company in last two quarters. Earlier, it invested Rs.260 crore to buy minority stake in Arvind Youth Brands, which is subsidiary of Arvind Fashions.
Nestle net profit stands at Rs.587.09 crore, declares dividend of Rs.135:
Nestle India, which follows Jan-Dec FY, declared its Q3 results today. It reported 1.37% fall in net profit, which stood at Rs.597.09 crore on YoY basis. Last year, company has reported a net profit of Rs.595.7 crore in same quarter. Revenue of the company also increased by 10% on YoY basis to Rs.3541.7 crore.
It also declared an interim dividend of Rs.135 per share. Ahead of its Q3 results, stock price of Nestle closed 0.31% lower today at Rs.15860.
Quick Bytes of Share Market Today:
- India’s first Covid-19 vaccine will be at least 60% effective, says Bharat Biotech, as it received approval for phase-III in India.
- SEBI gave clean chit to Sunil Mittal, Bharti Telecom and two others for alleged insider trading in Bharti Airtel.
- Reliance power share price hits 20% upper circuit as profit doubles in Q2.
- Q2 Results Today: Tech Mahindra, Nestle India, Yes Bank, ICICI Lombard General Insurance Company, IDBI Bank, JSW Steel, Aarti Drugs, Alphageo (India), Apollo Tricoat Tubes, Atul, Genus Power Infrastructures, Heidelbergcement India, Mahindra EPC Irrigation, Mold-Tek Technologies, Huhtamaki PPL, Persistent Systems, Premier Explosives, Rane Engine Valve, Sudarshan Chemical Industries, Supreme Petrochem, Vikas Multicorp and Wabco India.