#MarketAtClose | Sensex & Nifty close flat with financials dragging the market.
Except SBI, all Nifty Bank constituents lower; ICICI top loser.
Nifty falls 8 points to 15,575 & Sensex 3 points to 51,935
#MarketAtClose | Nifty Bank slips 189 points to 35,337 & Midcap index 26 points to 25,750
Adani Group stocks rise; Adani Ports up 4%, Adani Entertainment 8% & Adani Power 3%
ONGC & GAIL rise as crude moves to over 2-year high.
#MarketAtClose | Bajaj Auto closes off lows but in the green after better-than-expected may sales.
Maruti, Ashok Leyland, TVS slip as may sales come below estimates.
M&M ends flat despite better-than-expected tractor sales & positive commentary.
#MarketAtClose | SBI rises to record high with stock gaining nearly 2%
Steel shares fall on China’s easing of restrictions; Nifty metal down 1%
#MarketAtClose | JSW Steel, Tata Steel & JSPL Fall 2% each, SAIL down more than 4%
Market breadth favours declines; Advance-Decline ratio at 1:2
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Reliance Industries: Co made pre-payment of $7.8 billion of long-term foreign currency debt in FY21 - #AnnualReport
Reliance Ind Annual Report: Mukesh Ambani Says have a strong balance-sheet with high liquidity that will support growth plans. Strong #balancesheet will support growth plans Jio, Retail & O2C.
JioMart continues to grow
in scale wrt traffic, active users & orders
RIL Annual Report | Mukesh Ambani: Ajio.com saw 3x rise in biz on high orders,improvement in all metrics
SC On Pvt Hospitals: Present system of allowing only digital registration & booking of appointment on CoWIN coupled with current scarcity of vaccines, will ultimately ensure that initially all vaccines, whether free or paid, are 1st availed by the economically privileged.
thread
Supreme Court: Private Hospitals provide a public health service, they still remain private, for-profit entities.
Consequently, they may sell the vaccine doses procured at a higher price.
*Follow thread for more*
Supreme Court: Private hospitals also may not sell all their vaccine doses publicly through appointments on #CoWIN, but rather sell them for lucrative deals directly to private corporations who wish to vaccinate their employees
SC on #Differential Pricing: Union Budget for Financial Year 2021-2022 had earmarked Rs 35000 crores for procuring vaccines, Central Government is directed to clarify how these funds have been spent so far and why they cannot be utilized for vaccinating persons aged 18-44 years.
Thread* SC on #DifferentialPricing: Centre defended higher pricing as a move to spur competition, which would attract manufacturers that would eventually lower prices
Prima facie, only room for negotiation with 2 vax cos was on price, quantity which have been pre-fixed by Centre
SC: Serious doubts on justification for enabling higher prices as a competitive measure.
Central Govt justifying its lower prices on its ability to place large purchase orders for vax, raises issue as why this rationale not being employed to acquire 100% of monthly CDL doses
#MarketAtClose | Sharp recovery in RIL & banks helps Sensex & Nifty end flat.
Sensex recovers 399 points & Nifty 116 points from lows.
Nifty Bank rises 304 points from lows, led by SBI & IndusInd.
#MarketAtClose | Midcaps outperform frontliners with index up 1.4% to post record close.
Nifty gains 1 point to 15,576 while Sensex slips 85 points to 51,849
Nifty Bank rises 37 points to 35,374 & Midcap index 388 points to 26,118
#MarketAtClose | Steel stocks make a comeback; Tata steel, JSW up 2% each.
UPL, SBI & Bajaj Fin close at record highs.
Adani shares continue to move higher; Adani Ent up 9%, Adani Ports up 2%
#4QWithCNBCTV18 | Motherson Sumi reports a beat in net profit & topline but operational performance comes in mildly below expectations
#4QWithCNBCTV18 | A lower tax expense propels net profit higher; Motherson's EBITDA margin rises 150 bps on a like-to-like basis, revenue up nearly 18%
#4QWithCNBCTV18 | Among segments, Motherson's SMR biz reports a rise of 7.7% in revenue, EBIT falls 6.8% to Rs 296.4 cr YoY
SMR biz EBIT margin contracts to 9% vs 10.4% (YoY)