Nifty, Sensex reach new highs – Weekly closing report
Moneylife Digital Team 14 October 2021
We had mentioned in previous week’s closing report that Nifty, Sensex were on a strong rally.
 
The major indices have reached new high this week and closed with major gains.
 
 
On Monday, the indices opened higher, touched record highs and ended with gains. On the NSE, there were 1,121 advances, 901 declines and 6 remained unchanged.
 
Tata Motors announced Q2 retail sales which were at 92,710 vehicles, down 18.4% than the 1,13,569 vehicles sold in the same quarter last year. 
 
Affle India has been granted two patents, related to the technology of ‘Creating decentralized repository of fraud IPs and publishers using Blockchain’ and ‘Click to install behaviour based detection of fraud’. 
 
Equitas Small Finance Bank reported rise in gross advances in Q2FY22 by 13 percent to Rs 18,981 crore (provisional) from Rs 16,731 crore in Q2FY21 and total deposits rose 40 percent to Rs 18,094 crore (provisional) from Rs 12,901 crore in the same period.
 
Icra revised the growth forecast of the auto component industry by 300 points citing the impact of semiconductor shortage.
 
Saregama reported its Q2 results, net profit jumped by 17 percent to Rs 33.8 crore YoY. Revenue jumped 34.2% from 108.1 crore to 145.1 crore YoY.
 
Prestige Estates Projects announced its Q2FY22 results, it has registered the highest quarterly sales of Rs 2,112 crore, up 88 percent YoY.
 
Data from Association of Mutual Funds (AMFI) showed 33 percent increase in AUM driven by record SIP inflows of Rs 10,000 crore for the first time. 
 
IPO of Aditya Birla Sun Life AMC listed at Rs 715 on NSE against issue price of Rs 712.
 
TCS shares tanked more than 6% on Monday when it reported a 29% YoY growth in consolidated net profits in Q2 results on Friday. It approved an interim dividend of Rs 7 per equity share for its shareholders.
 
 
 
On Tuesday, the indices opened lower and ended with minor gains. On the NSE, there  were 1,025 advances, 947 declines and 77 remained unchanged.
 
Tata Power, wholly-owned subsidiary Tata Power Solar Systems bagged EPC orders worth Rs 538 crore from Energy Efficiency Services (EESL). The contract is regarding setting up of multiple distributed ground mounted solar projects totalling 100 MW. 
 
Schaeffler India to consider stock split on 28 October in its board meeting.
 
Delta Corp. announced its Q2FY22 results, it has seen net loss down to Rs 22.57 crore as compared to net loss of Rs 54.91 crore YoY. Its net sales have risen by 94.74 percent to Rs 74.72 crore. The stock rallied 4.5 percent after the result; it has been included in F&O recently.
 
On Wednesday, the indices opened higher and ended with major gains. On the NSE, there were 1,035 advances, 952 declines and 78 remained unchanged.
 
TPG Rise Climate and Abu Dhabi’s ADQ will invest Rs 7,500 crore (around $1 billion) in Tata Motors new subsidiary which will make electric vehicles (EV). The investment values “TML EV Co” close to $ 9.1 billion.  The investment will be done through a compulsory convertible instrument to secure 11-15% stake. Wipro, announced its Q2FY22 results after market hours. It has reported consolidated profit of Rs 2,930 crore as compared to Rs 3,242.6 crore in the Q1FY22.  The decline in profits is due to wage hike Capco acquisition.
 
Mindtree reported its Q2FY22 earnings, its net profit was at Rs 399 crore up 16.2% as compared to Q1FY22 and revenue was at Rs 2,586.2 crore up 12.8% from previous quarter. Its margin improved by 40 bps from 17.7% to 18.1% Q-o-Q. 
 
Infosys Q2FY22 revenue stood at Rs 29,602 crore compared with Rs 27,896 crore in previous quarter and its net profit was at Rs 5,421 crore as compared to Rs 5,195 crore in Q1FY22 up by around 11.9%. Its margin decreased by 10 bps to 23.6%. Approves dividend of Rs 15 per share.
 
Bhansali Engineering Polymers reported revenue at Rs 374.84 crore in Q2FY22 up 21.76% from Rs. 307.85 crore in same quarter last year. Its EBITDA is at Rs. 167.09 crore in Q2FY22 as compared to Rs. 48.02 crore QFY21.
 
International Monetary Fund (IMF), projects Indian economy to grow by 9.5% this year and 8.5% in 2022. 
 
On Thursday, the indices opened higher, reached record levels and ended with major gains. On the NSE, there were 992 advances, 997 declines and 6 remained unchanged. Bank Nifty reached new records high today.
 
Tata Motors first sub-compact SUV named Tata Punch has received a 5-star safety rating of 16.453 from Global NCAP. It is the highest adult occupant protection rating any vehicle has received in India.
 
Century Textiles announced its Q2FY22 results, its sales were up by 67% to Rs 998 crore Y-o-Y and EBITDA was up by 102% Y-o-Y at Rs 133 crore. Consolidated net profit was at Rs 44.7 crore as compared to loss of Rs 14 crore during the same quarter last year. The stock was up around 4%.
 
Nykaa has received SEBI approval for IPO, company is likely to be valued at Rs 4,000 crore and may raise Rs 525 crore via fresh issuance of equity shares.
 
Apollo Pipes, investor Ashish Kacholia has sold entire 3.58% stake in co during Q2FY22. The shares of Apollo Pipes have hit new 52 week high on news of bonus issue.
 
Westlife Developments will invest Rs 800 crore to Rs 1,000 crore in various businesses and open about 200 outlets over the next three-four years. It is owner and operator of McDonald’s restaurants. The stock was up about 13% during the day.
 
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