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The markets ended flat today – very slightly down compared to yesterday.


The markets have been closing up and green every day since the Union Budget was presented on the 1st of February.


Q3 Results: Tata Steel, Adani Ports, BPCL


Tata Steel

Tata Steel posted a net profit of Rs 3,989 crore for the October to December quarter against a net loss of Rs 1,166 crores during the same quarter in 2019.


The company’s total revenue from operations rose 11.5% to Rs 39,594 crores.


Crude steel production was up 3.3% to 4.6 million tons.


Tata Steel’s deal to sell its Dutch unit to SSAB, a Swedish steel company, collapsed earlier this year. The company said that it will arrive at a strategic and sustainable resolution for its European portfolio.


It also said that the process to separate Tata Steel Netherlands and Tata Steel UK is currently underway.
The share price of the company ended 0.53% lower at Rs 699.2 per share. The results were declared after markets closed.


Adani Ports and Special Economic Zone Limited (APSEZ)

The net profit of Adani Ports was up 16.22% to Rs 1,576.53 crores.


Its total consolidated income increased by 11.6% to Rs 4,274.79 crores.


The company’s market share in cargo volume was up by 6% to 28% .


The share price of the company ended flat today. It was down 0.02% to Rs 581.95 per share.The results were declared one hour before the markets closed.


BPCL

The net profit of BPCL for the October to December quarter (Q3) was at Rs 2,777.6 crores-up 120% from the same quarter in 2019.


Revenue was up 1.42% to Rs 86,579.95 crores.


The average gross refining margin (GRM) during April-December 31 stood at $2.90 per barrel as against $3.15 per barrel in the same period last year.


The company also declared an interim dividend of Rs 16 per share and the record date is February 19.


The share price of the company ended 0.17% lower at Rs 419.35 per share.


Amfi Report January 2021: Equity and Debt Funds Record Outflows


In January 2021, major mutual fund categories recorded net outflows.


The outflows from open-ended debt funds were Rs 33,408.76 crores and Rs 9,253.22 crores from open-ended equity funds.


Flexi-cap funds witnessed the highest net outflows amongst open-ended equity funds categories. The category saw outflows of Rs 5,933.67 crores.


Among open-ended debt fund categories, liquid funds saw outflows of Rs 45,315.69 crores, which was the highest.


SIP contribution for January 2021 fell to Rs 8,023 crores from Rs 8,418 crores in December 2020. The number of SIP accounts rose to 3.56 crore in January compared to 3.47 crore in December.

Supreme Court Approves Partial Return of Franklin Money


The Supreme Court has approved the distribution framework for returning Rs 9,122 crores to investors.


These investors are those who had invested in the Franklin debt funds that were wound down in April 2020.


The amount each investor gets will be decided based on the proportion of investments held by each investor.


This is not the entire amount invested by investors, it is a smaller part of it.


According to reports, the distribution of the funds will be handled by SBI Funds.

No Virus Related Deaths in 7 States and UTs in 3 Weeks


The Centre today said that 7 states and union territories have reported no virus-related deaths in over 3 weeks now.


Additionally, 15 states and union territories reported no deaths in the last 24 hours.


India’s number of cases has drastically reduced in the past few months.


During the peak, over 90,000 new cases were being reported every day. Now, about 10,000 new cases are being reported every day.


India has had a total of 1.08 crore cases of which 1.05 crore have recovered.


About 63 lakh people in India have been vaccinated against the virus so far.

India Fuel Demand Falls in January


India’s fuel demand fell 2.2% in January when compared to the same month last year.


Consumption of fuel, a metric for oil demand, stood at 18.01 million tonnes.Petrol/Gasoline sales were 6.3% higher from a year earlier at 2.61 million tonnes.


Cooking gas or liquefied petroleum gas (LPG) sales increased by 1.7% to 2.49 million tonnes.

The Information contained in this newsletter is Purely for knowledge. The newsletter does not contain any recommendations or advice.


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