Nifty, Sensex may move sideways – Tuesday closing report
Moneylife Digital Team 12 October 2021
We had mentioned in Monday’s closing report that Nifty, Sensex may move sideways. On Tuesday, the indices opened lower and ended with minor gains. On the NSE, there were 1,025 advances, 947 declines and 77 remained unchanged.
 
The trend of the major indices on Tuesday’s trading are given in the table below:
 
 
Bharat Biotech's Covaxin has received emergency use approval for children in the 2-18 years age group. Hester Biosciences surged 4.85 percent after the reports.
 
Goldman Sachs has reduced its 2022 growth estimate for the USA to 4 percent from 4.4 percent and took its 2021 estimate down a tick to 5.6 percent from 5.7 percent. This is due to the expiration of government's fiscal support and a slower recovery in consumer spending than expected earlier.
 
Tata Power, wholly-owned subsidiary Tata Power Solar Systems bagged EPC orders worth Rs 538 crore from Energy Efficiency Services (EESL). The contract is regarding setting up of multiple distributed ground mounted solar projects totalling 100 MW. 
 
Schaeffler India to consider stock split on 28 October in its board meeting, it reached a new 52-week high today.
 
Delta Corp. announced its Q2FY22 results, it has seen net loss down to Rs 22.57 crore as compared to net loss of Rs 54.91 crore YoY. Its net sales have risen by 94.74 percent to Rs 74.72 crore. The stock rallied 4.5 percent after the result; it has been included in F&O recently.
 
Tata Metaliks was down 6.2 percent after it announced disappointing numbers for Q2FY22. The net profit declined by 33.4 percent to Rs 54.62 crore from Rs 82 crore a year ago. This was due to increase in expenses which increased by 31.4 percent to Rs 566.95 crore due to sharp rise in raw material costs. Its revenue was up 24.1 percent YoY to Rs 644.84 crore. 
 
HFCL reported a net profit rise of 61.18 percent from Rs 85.9 crore as compared to Rs 53.32 crore YoY. 
 
 The top gainers and top losers of the major indices are given in the table below: 
 
 
The closing values of the major Asian indices are given in the table below:
 
 
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