Asian stocks opened higher on Monday. Meanwhile, Indian benchmark indices began the day on a positive note, bolstered by positive global cues. The Sensex was up 230.41 points, or 0.38 percent, at 60917.10 at the open, while the Nifty was up 73.20 points, or 0.40 percent, at 18176. Approximately 1324 shares advanced, 624 declined, and 106 remained unchanged.
The BSE Sensex opened at 61,026, up 339 points, while the Nifty50 was nearing 18,200 points. Sectorally, all indices were trading higher, led by the Nifty Auto index, which was up 1%, and
the Nifty Bank index, which was up 0.8 per cent.
Share in Focus
- Hero MotoCorp
The share price of Hero MotoCorp increased on November 15 after the company announced its September quarter results, the previous week. It was among the top gainers on the Nifty index, up
1.7%.
Hero MotoCorp reported a standalone profit after tax (PAT) of Rs 794 crore on Friday, a 17 percent drop from the corresponding quarter last year's PAT of Rs 953 crore. However, on a
sequential basis, its standalone PAT increased 117 percent from Rs 365 crore in the previous quarter.
Standalone revenue was Rs 8,453.4 crore, a 10% decrease from Rs 9,367 crore in the same quarter last year. Standalone revenues increased by 54% from the previous quarter's Rs 5,487 crore.
- Nykaa
Nykaa shares fell 5.6% after the fashion and cosmetics online retailer reported a 96% year-on-year drop in Q2 net profit to Rs 1.1 crore in the September quarter. The company's revenue, on the other hand, increased by 47% year on year to Rs 885 crore.
FSN E-Commerce Ventures Ltd, which operates Nykaa, reported a 95% year-on-year (YoY) decline in consolidated net profit at Rs 1.2 crore for the July-September quarter as expenses increased.
In the previous fiscal year, it made a profit of Rs 27 crore.
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- Maruti Suzuki
According to a senior company official, Maruti Suzuki India (MSI) plans to drive in CNG trims across its product range as it remains upbeat on the segment's long-term prospects despite rising fuel prices and a drop in diesel car sales.
The company, which sold approximately 1.62 lakh CNG vehicles in the previous fiscal year, is also financing the rapid expansion of CNG dispensing outlets across the country to bring in more
CNG products.
The car manufacturer is optimistic about the expansion of its sales network and expects CNG car sales to nearly double this fiscal year over 2020-21.
- Future Retail
Future Retail's independent directors have released new documents in a letter to the country's antitrust watchdog, aiming to strengthen their case against Amazon.com Inc as they
seek to revoke a 2019 deal between the two companies.
According to a 160-page stock exchange filing on Sunday, the directors reviewed records related to the 2019 deal between a group unit, Future Coupons and Amazon, and asserted that revelations
made by the US company before the Competition Commission of India (CCI) when it sought approval of the deal contradicted Amazon's own internal communications at the time.
- Fino Payments Bank
The bank announced a 74% increase in net profit to Rs 7.89 crore in Q2 FY22, while revenue increased 35% year on year to Rs 242.15 crore.
- Coal India
The company's profit fell to Rs 2,932.7 crore in Q2 FY22 from Rs 2,951.6 crore the previous year. Its revenue increased from Rs 21,153.1 crore to Rs 23,291 crore year on year.
SpiceJet shares fell 1.5% after the airline revealed a net loss of Rs 561.7 crore for the quarter ended September 2021, compared to a net loss of Rs 112.6 crore in the same period last fiscal.