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update 20 Oct 07:49 AM open_in_new  MoneyControl

Morning Scan: All the big stories to get you started for the day


A round-up of the biggest articles from newspapers

update 20 Oct 07:38 AM open_in_new  MoneyControl

Fuel prices on October 20: Petrol crosses Rs 106 in Delhi, Rs 112 in Mumbai


The price of petrol in Delhi crossed Rs 106-mark with an increase of 35 paise per litre on the day.

update 20 Oct 03:00 AM open_in_new  EquityMaster

HUL's Quarterly Performance, Tata Motors on EV Battery Prices, and Buzzing Stocks Today


Posted by Equitymaster Indian share markets ended on a flat note yesterday. Dalal street's greatest winning streak in over ten months came to an end when benchmark indices fell for the first time in eight sessions. Profit booking as a consequence of in-line September quarter results pulled markets down from intra-day highs. At the closing bell yesterday, the BSE Sensex stood lower by 50 points (down 0.1%). Meanwhile, the NSE Nifty closed lower by 58 points (down 0.3%). Tech Mahindra and Larsen & Toubro were among the top gainers. ITC and Tata Motors, on the other hand, were among the top losers. The BSE Mid Cap index and the BSE Small Cap index ended down by 2% and 1.8%, respectively. --- Advertisement --- 21st Century's BIGGEST Revolution is Happening... Are You in? The biggest revolution of the 21st century is Electric Vehicles. But let me warn you that the usual way of investing in EVs may lead you to more trouble than profits. After spending thousands of manhours on research, we've found a hidden way to profit from this EV revolution... which holds far more potential than buying regular big-name EV stocks. And we're going to reveal it all at our exclusive online event. Register Me for Free ------------------------------ Sectoral indices ended on a negative note with stocks in the realty sector, consumer durables sector and FMCG sector witnessing most of the selling pressure. IT stocks, on the other hand, witnessed buying interest. Shares of Cera Sanitary and Oracle Financial hit their respective 52-week highs. Gold prices for the latest contract on MCX were trading up by 0.3% at Rs 47,430 per 10 grams at the time of closing stock market hours yesterday. Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report shares his view on housing finance stocks, in his latest video for Fast Profits Daily. Tune in to the video below to find out more: Top Stocks in Focus Today Among the buzzing stocks today will be TTK Prestige. Shares of TTK Prestige zoomed 20% on the exchanges yesterday to hit a record high after the company said it plans to consider the proposal of a stock split on 27 October 2021. The stock surpassed its previous high of Rs 9,580 touched on 5 July 2021. A stock split is generally done to make the scrip more affordable for small retail investors and increase liquidity. Existing shares are split, but the underlying value remains the same. As the number of shares increases, the price per share goes down. As of 30 September 2021, TTK Prestige had 13.7 m outstanding equity shares. Find Out: How to Profit from 21st Century's BIGGEST Revolution The promoter and promoter group held a 70.4% stake, while the remaining 29.6% was held by public shareholders including mutual funds (13.1%), foreign portfolio investors (9.9%) and individual shareholders (5.1%). With increased mobility and optimistic outlook on the consumer confidence index, analysts expect consumer durables companies to continue with their growth momentum. TTK Prestige is likely to grow as well. HUL share price will also be in focus today. Hindustan Unilever reported a standalone net profit of Rs 21.9 bn for the September quarter, an increase of 9% from Rs 20.1 bn reported in the same quarter last year. On a sequential basis, the profit after tax (PAT) grew 6% from Rs 20.6 bn in the June quarter. The FMCG major's revenue from operations rose 11% to Rs 127.2 bn as against Rs 114.4 bn in the year-ago period. HUL's domestic consumer business recorded a growth of 11% over last year during the September quarter. Segment wise, home care business grew 15% in the reporting period, driven by high double-digit growth in Fabric Wash. Household care continued to perform well and grew on a strong base. Liquids and fabric sensations continued to outperform. Beauty and Personal Care grew 10% led by skin care, colour cosmetics and hair care, while foods and refreshment business has seen a growth of 7% against a strong prior year comparator. The company has also declared an interim dividend of Rs 15 per equity share for the financial year ending 31 March 2022. --- Advertisement --- 21st Century's BIGGEST Revolution is Happening... Are You in? The biggest revolution of the 21st century is Electric Vehicles. But let me warn you that the usual way of investing in EVs may lead you to more trouble than profits. After spending thousands of manhours on research, we've found a hidden way to profit from this EV revolution... which holds far more potential than buying regular big-name EV stocks. And we're going to reveal it all at our exclusive online event. Register Me for Free ------------------------------ Tata Motors on EV Prices Tata Motors has claimed that cost of batteries for EVs will drop to levels that will make them affordable in 2-3 years even if the government were to withdraw subsidies offered on EVs. India's EV industry is thriving on an array of incentives provided by central and state government to promote the faster adoption of the eco-friendly vehicles. If incentives from both channels are put together, the total benefit for an electric car buyer could amount to as much as Rs 3 lakh. The central government offers subsidies under the Faster Adoption and Manufacturing of Electric Vehicles, or FAME II, scheme. In a concall with analysts, Shailesh Chandra, president of the passenger vehicle business unit at Tata Motors said, Subsidies are going to be important for the next few years, but this will be required as long as battery prices are at a certain level. He added that battery prices will come down rapidly in the next 2-3 years. According to the US's Department of Energy, the cost of EV lithium-ion battery packs has declined 87% between 2008 and 2021. Tata Motors is working on electric versions of the Punch and the Harrier in the coming years as well as born-electric models, all of which will make up seven new product offerings by fiscal 2026, taking the total EV portfolio of 10 products. The expected slide in battery costs will benefit two and three-wheeler EV manufacturers as well. Dr. Reddy's Gets Approval for Lenalidomide Capsules from USFDA Dr. Reddy's Lab announced that it has received approval for Lenalidomide capsules from the US Food and Drug Administration (USFDA). The company announced the final approval of its abbreviated new drug application (ANDA) for Lenalidomide Capsules, in 2.5 mg and 20 mg strengths, and tentative approval for 5 mg, 10 mg, 15 mg, and 25 mg strengths, a therapeutic equivalent generic version of REVLIMID (lenalidomide) capsules, from the USFDA. With this approval, the company is eligible for 180 days of generic drug exclusivity for Lenalidomide Capsules. Marc Kikuchi, CEO, North America Generics, Dr Reddy's Laboratories said, We are pleased with the agency's approval of Lenalidomide Capsules, 2.5 mg and 20 mg and being eligible for 180-day market exclusivity. We look forward to bringing a more affordable generic version of this drug to market for the benefit of patients. In September 2020, Dr Reddy's announced a settlement agreement of their litigation with Celgene, the maker of REVLIMID (lenalidomide) capsules and a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for the branded drug. We will keep you posted on more updates from this space. Stay tuned. To know what's moving the Indian stock markets today, check out the most recent share market updates here. This article (HUL's Quarterly Performance, Tata Motors on EV Battery Prices, and Buzzing Stocks Today) is authored by Equitymaster. Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

update 19 Oct 11:01 PM open_in_new  MoneyControl

Tata Steel BSL posts over 5-fold jump in net profit to 1,837 crore for September quarter


The company's expenses stood at Rs 6,492.97 crore, against Rs 5,203.33 crore in the year-ago quarter.

update 19 Oct 09:33 PM open_in_new  MoneyControl

ICICI Pru Life posts 47% jump in net profit to Rs 445 crore for September quarter


The total income during July-September 2021 also rose to Rs 23,188 crore, compared with Rs 16,715 crore in the year-ago period, ICICI Pru Life said in a regulatory filing.

update 19 Oct 08:51 PM open_in_new  MoneyControl

Rains force automobile companies to shut production at Uttarakhand plants


Bajaj Auto and Ashok Leyland have shut down production at their Pantnagar plants as a precautionary measure. Tata Motors, which also has a plant in the same area, is believed to have followed suit.

update 19 Oct 08:51 PM open_in_new  MoneyControl

Uttarakhand rains force auto companies to shut production


Bajaj Auto and Ashok Leyland have shut down production at their Pantnagar plants as a precautionary measure. Tata Motors, which also has a plant in the same area, is believed to have followed suit.

update 19 Oct 08:43 PM open_in_new  MoneyControl

Surge in onion prices adds another layer of pain for India’s consumers


The crop damage limited supplies, more than doubling wholesale prices at India's largest onion trading hub, Lasalgaon in Maharashtra, to 33,400 rupees ($444.82) per tonne in just a month.

update 19 Oct 08:28 PM open_in_new  MoneyControl

Coal crisis: Number of power projects with less than 4-day coal stock dips to 58


The data also showed that the number of power plants with zero days of coal has come down to 13 as of Monday with cumulative installed generation capacity of 11,710 MW, compared to 15 with 15,290 MW capacity a week back.

update 19 Oct 08:10 PM open_in_new  MoneyControl

ICICI Securities Q2 PAT up 26% to Rs 351-crore; announces interim dividend of Rs 11.25/share


The company has attributed the growth in revenues to strong all-around performance across business segments.

update 19 Oct 07:52 PM open_in_new  MoneyControl

SBI board wanted letter of support from govt before approving Jet Airways resolution plan: Rajnish Kumar


In his book titled 'The Custodian of Trust', Kumar said dealing with the Jet Airways issue was the one of the most difficult assignments that he had faced during his eventful term as the head of the country's largest lender.

update 19 Oct 07:42 PM open_in_new  MoneyControl

Rallis India consolidated Q2 PAT down 32.53% at Rs 56 crore


The company recorded a modest growth of 0.4 per cent in revenue during the quarter under review at Rs 728 crore compared to Rs 725 crore in the same period of 2020-21.

update 19 Oct 07:27 PM open_in_new  MoneyControl

Wall Street start higher; JJ leads gains for health care sector


Health care companies were making some of the biggest gains in the early going.

update 19 Oct 07:21 PM open_in_new  MoneyControl

Gold prices climb above Rs 47,500/10 gm on positive global trend, weaker dollar


The spot gold-silver ratio currently stands at 74.20 to 1, which means 74.20 ounces of silver is required to buy an ounce of gold.

update 19 Oct 06:18 PM open_in_new  MoneyControl

Coal, railway, power ministers discuss coal supply situation at power plants


The meeting comes against the backdrop of power plants grappling with coal shortages.

update 19 Oct 05:38 PM open_in_new  MoneyControl

HeidelbergCement India Q2 profit down 4.55% to Rs 59.56 crore


The company had reported a net profit of Rs 62.4 crore in the July-September quarter of the last year, HeidelbergCement India said in a BSE filing.

update 19 Oct 05:05 PM open_in_new  MoneyControl

Axis Bank to waive 12 EMIs on select home loans under festive offer


Axis Bank is offering waivers of 12 EMIs on select home loan products and providing on-road finance without any processing fee for two-wheeler customers, Axis Bank said in a release.