#Reliance reports decent numbers,with 12.5% YoY growth in Profit,on revenue of 1.18 lakh Cr
Operating profit of #RIL up 12% QoQ #Jio saw 15.5% rise in Profit QoQ
Reliance added 50000 jobs in April-Dec'20
Retail&Telecom business accounting for 51% of revenues,did well #Economy
#EconomicRecovery,is not limited to biggies like #Grasim,which will go for 5000Cr capex,or banks like #IndianBank that will go for 4000Cr QIP/FPO,but is seen in smaller Cos too
#CromptonGreaves saw 26% rise in revenues&46% rise in Ebitda,with margins up 210bps@ 14.8%,in Dec qtr!
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Sensex scripting history today,by breaching 50000 for 1st time,is vindication of investor faith in @narendramodi gov
#Sensex,from 40000 on Oct8'20 to 50000 in just 74 sessions&from 45000 on Nov4'20 to 50K today,in 32 trading days,reflects economic momentum
Modi naysayers,quiet!
When #StockMarket plummeted to lows of 25000 at peak of #COVID19 crisis,few had envisaged such meteoric rise from index's 3yr low
Plethora of factors fuelled rally
Liquidity push,FII buying,good corporate earnings,mega vaccine roll out&economic traction under @narendramodi govt
Rs 4633 Cr #IRFC IPO has been subscribed 3.49x on final day of 3 day bidding process;Issue received bids for 435 Crore equity shares as against offered size of 124Cr equity shares
35% of #IPO reserved for #Retail investors,saw 3.53x subscription, with #QIB oversubscribed 3.78x💪
#Fitch,last year said,in FY22,India's #GDP growth will be in 8.5-9.5% range,but has now upgraded it's forecast,saying India under @narendramodi,will grow by solid 11% in 2021-22💪
GDP growth estimates for India in FY22 👇
IMF 8.8%
Nomura 9.9%
India Ratings 9.9%
Goldman Sachs 13%
Fitch,while lauding Modi Govt said,India is unusual among EMs,in having secured pre-orders of various vaccines,sufficient to cover a population-wide programme,having pre-ordered 1.6 billion vaccine doses,including 500 mln of the Oxford/AstraZeneca vaccine through a local producer
M&M expects Tractor industry to grow between 17-19% in FY22;If overall #AutoIndustry grows by 15-20%,cascading effect on GDP growth,will be superior
After stellar Nos by TCS,#Infosys also reported solid 16.6% YoY rise in consol net profit at 5197Cr for Dec qtr #Economy#Earnings
Sensex at 44000+,Nifty at 13000+ & #BankNifty at 9 month high of 30000+💪
Amongst top gainers in rally are SBI,ICICI Bank&Axis Bank;549% rise in Profit in #ICICIBank,reinforces, rally is not just liquidity driven,but excellent Sep qtr results have played big role
#SBI is not any other Bank;It is biggest Bank in India,accounting for one fourth of India's lending activity, so great results by SBI,signify, #EconomyRising
NII at 28182Cr,up 5.7%,QoQ
NIMs up 12bps YoY at 3.34%
GNPA in Sep Qtr fell to 5.28% Vs 5.44% in June qtr,with NPAs down