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Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Markets' thumbs down to RBI's QT
Tue, 16 Jul Closing

In what seems to be the exact opposite stance to that of US Fed chief Bernanke, the RBI governor has chosen to tighten liquidity in Indian banking system. The quantitative tightening (QT) as opposed to Fed's prolonged quantitative easing (QE) is basically an attempt to check the rupee's fall against the US dollar. However, this spooked Indian equity markets today as investors gave a thumbs down to the RBI's anti-inflationary stance. Stocks from the banking, realty and commodity sectors were the worst hit. While the BSE Sensex closed lower by 183 points (down 1%), the NSE-Nifty closed lower by 76 points. The BSE Mid Cap index and closed lower by 1.5% while the BSE Small Cap index lost about 1%.

As regards global markets, while Asian stock markets closed a mixed bag today the European indices have opened lower. The rupee was trading at Rs 59.23 to the dollar at the time of writing.

As per a business daily, coal mining major Coal India (CIL), would be signing 7-8 Fuel Supply Agreements (FSAs) with largest PSU power producer NTPC. CIL's total target for FY14 off-take stands at 492 million tonnes (mt), out of which 377 mt of coal would be supplied to power sector.The company, recently reported production of 32.57 million tonnes in June 2013, as against target of 35.23 million tonnes. Meanwhile, CIL's total off-take for the month of June stood at 37.09 million tonnes as against a target of 39.85 million tonnes.

Battery maker Exide Industries reported its June quarter (1QFY14) results today. The company's net sales rose by 5% while the net profits rose by 4.6% YoY in 1QFY14. The company witnessed traction in the after-market segment of the automotive battery business. The replacement market typically enjoys higher margins than direct sales to OEMs due to greater price flexibility. However, Exide was severely hampered by capacity constraints in the past couple of years. As demand from OEMs surged in FY11, Exide chose to cater to that segment with the result that focus on the replacement side diminished. This proved to be the company's undoing as it lost a whopping 10% market share in the replacement space. In FY12 and FY13, however, the company has regained more than half of its lost market share in the replacement market and is confident of recapturing the remaining in FY14.

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EXIDE INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 23.2% (Quarterly Result Update)

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For the quarter ended December 2020, EXIDE INDUSTRIES has posted a net profit of Rs 2 bn (up 23.2% YoY). Sales on the other hand came in at Rs 28 bn (up 16.2% YoY). Read on for a complete analysis of EXIDE INDUSTRIES's quarterly results.

EXIDE INDUSTRIES 2019-20 Annual Report Analysis (Annual Result Update)

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