February 14, 2022:

Indian benchmark indices Sensex and Nifty50 closed lower in the red territory. 

• The 30-Scrip BSE Sensex ended 1,747.08 points or 3% lower at 56,405.84.

• The NSE Nifty plunged 531.95  or 3.06% to close at 16,842.80.

All the sectoral indices closed in the red territory with bank, financial services, and media falling more than 4%, and Metal, reality and PSU bank losing more than 5%.

BSE Midcap and Smallcap indices shed 3.51 and 4.15% each.

Top Stocks On Encome.io Dashboard:

News Wrap:

Earnings In Focus:

Grasim Profit Increases 26% YoY Revenue Jumps 16% YoY In Q3FY22

• Consolidated profit after tax (PAT) in Q3FY22: Rs 1,746 crore 

  PAT In Q3FY21: Rs 1,389 crore 

• Revenue From operations in Q3FY22: Rs 24402.24 crore

  Revenue In Q3FY21: Rs 21,000.13 crore

• Revenue Across Segments:

  Viscose business revenue: Rs 3,335 crore, Up 55% YoY
  Chemicals business revenue: Rs 2,338 crore, Up 83% YoY
  Cement Business - UltraTech Revenue: Rs12,985 crore, Up 6% YoY
  Aditya Birla Capital Limited (ABCL) revenue: Rs 5,706 crore, Up 13% YoY
  Revenue from other business : Rs 566 crore, Up 45% YoY

• Consolidated EBITDA in Q3FY22: Rs 4,107 crore, Down 8% YoY

• EBITDA margin in Q3FY22: 17%, Down 400 bps

  ---

Newly-listed Adani Wilmar Reports 66% YoY Growth In Q3FY22 Net Profit 

• Consolidated net profit in Q3FY22: Rs 211.4 crore, Up 66% YoY

• Consolidated revenue in: Rs 14,378.7 crore, Up 40.6% YoY

  Food & FMCG segment revenue: Rs 704 crore, Up 46% YoY

  Industry Essential segment revenue: Rs 1557, Up 41% YoY

  Edible Oil segment revenue: Rs 12,118 crore Up 40% YoY.

• Consolidated operating profit: Rs 1,420 crore, Up 35% YoY 

  ---

Coal India Posts 47.7 % Increase In Q3FY22 Net Profit

• Consolidated net profit in Q3FY22: Rs 4,558.4 crore, Up 47.7%

• Consolidated revenue from operations: Rs 28,433.5 crore, Up 20%

• Consolidated expenses: Rs 22,780.95 crore, Increased 17% 

The board of COAL India declared a second interim dividend of Rs 5 per share on a face value of Rs 10 per share.

Big News: 

Vedanta Enters Into JV Pact With Foxconn To Make Semiconductors In India

Anil Agarwal-led Vedanta has entered into a joint venture pact with Taiwan’s Foxconn for manufacturing semiconductors in India.

Foxconn would infuse $118.7 million to set up a joint venture company with Vedanta, which would hold 60% of the stake in the new venture. 

Vedanta Chairman Anil Agarwal will be the chairman of the joint venture.

"It will provide a significant boost to domestic manufacturing of electronics in India. Discussions are currently ongoing with a few state governments to finalize the location of the plant," the joint statement by the companies read. 

More To Know:

• Life Insurance Corporation of India (LIC) filed the draft red herring prospectus (DRHP) with SEBI on February 13. The initial share sale will fetch the government between Rs 60,000- 75,000 crore. In the DRHP, LIC has said that the government will sell 316.25 million shares of its over 6,325 million shares. The government is the 100% stake owner of LIC.

• Vedant Fashions, the owner of ethnic wear brand Manyavar, will get listed on NSE on February 16.

• Honasa Consumer, the parent company of Mamaearth and The Derma Co, has bought hair brand BBLUNT from Godrej Consumer Products.

• Air India Gets CEO & MD In Ilker Ayci, Ex-Turkish Airlines Chairman.

• According to a report by Bloomberg, Mumbai-based Axis Bank is an inch away from buying Citigroup India’s retail unit at a value of $2.5 billion.

• Retail inflation sky-rocked to a six-month high of 6.01% in January 2022, surpassing the December 2021 inflation rate of 5.59%. Reserve Bank of India (RBI)'s tolerance band for inflation is 6%. 

• Fintech major Paytm’s gross merchandise value (GMV) processed through its platform jumped more than twice to Rs 83,481 crore in January from Rs 41,000 crore a year ago. 

• Reliance’s Jio partners with SES to deliver pocket-friendly satellite-based broadband services in India. The total value of the contract is valued to be $100 million.

• Wholesale Price Index (WPI) based inflation rate in January 2022 was 12.96%. WPI Inflation in Dec 2021 was 13.56%.