DIBYENDUDEY

1) SBI Card gained as the Credit card spends recovers to pre-covid levels in August. Banks record Rs50311cr spends on Credit Cards in August compared with Rs50574cr in March.2) Tata Steel Long Products reported Q2 Net profit at Rs 59.1 crore versus Net loss at Rs 196.9 crore, Ebitda at Rs 183.6 crore versus Ebidta loss at Rs 41.8 crore. Expect positive for Tata Steel as it holds 75.91% stake of Tata Steel Long Products. #MOMarketUpdates #MotilalOswal #TATASteel #Indianstockmarket #SBI #SBIELite #SBICards #Sensex #Nifty

1) Apollo pipes had a bull run today. The company’s overall sales up 19% to 12,268 MT. Growth was driven by contribution from across product categories, including value-added product segment of fittings. The company anticipates further improvement in sales performance over the next few quarters on the back of a better demand environment combined with an uptick in utilisation levels. 2) Chinese steelmaker, Jingye has expressed an interest in taking over Tata Steel's UK operations, said a leading UK-based televison channel Sky News. “Banking sources said this weekend that Jingye’s interest was at a tentative stage, and insisted that there was not a formal sale process for Tata Steel UK’s operations,” #MOMarketUpdates #MotilalOswal #Indianstockmarkets #Nifty #sensex #tatasteel