SBI Life (+1%), UPL (-3%) & more
SBI Life (+1%), UPL (-3%) & more
Tribe Daily
Market Summary
Nifty extended losses for the second session as Covid-19 weighed on market sentiment.
Companies
Ultra Tech Cement (+1%) rose after the company signed a memorandum with the Institute of Risk Management India Affiliate to enhance Enterprise Risk Management and risk intelligence in the cement sector. UPL (-3%) declined due to an increment in debt levels ( from Rs 18,900 cr in March 2022 to Rs 28,512 cr in Sept 2022).
Sectors
Nifty Realty (-1%) declined due to weak performance of India bulls Real Estate, Godrej Properties, Phoenix Mills and Hemisphere. Nifty PSU Bank (-1%) declined due to weak performance of Union Bank, JK Bank, Bank of India and Central Bank. Nifty Pharma (-1%) declined due to weak performance of Aurobindo Pharma, Divis Labs and Cipla.
News of The Day
1.Maruti Suzuki inked a deal with Kamarajar port to export 20,000 cars annually. (Money Control)
2.Bandhan Bank (-4%) declined after the bank announced that they have received Rs 801 cr bid to sell bad assets. (Economic Times)
3.Cognizant (+1%) rose after the company signed an MoU with Garuda Aerospace to power drones with advanced digital tools. (Business Standard)
4.Indian Oil selects Jio’s managed network services for its petrol pumps .(Business Standard)
5.Talbros Automotive Components received a multi-year order worth Rs 150 cr for rubber hoses. (Business Standard)
Market Sentiment
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