Tale of the Tape 

Hey folks. One more day to go for the weekend. 

Markets were boring! Nifty and Sensex seesaw-ed in a range to eventually end flat. Midcaps (-0.3%) and Smallcaps (+0.2%) traded mixed. The advance-decline ratio was split evenly. 

Most sectors ended in the red. Pharma (-2%) and IT (-1.3%) saw deep cuts. On the other hand, Banks and Financial Services rose +1% each. 

Polycab has been on fire. Yes, it’s had alleged trouble with tax authorities, but there is also an underlying growth story here. More details below.

Mazagon Dock, Va Tech Wabag and Rain Industries saw big movement today. Check out their charts below.

Ola Electric slipped another -5% amidst rising fears of GOI action.

Star Health was under pressure after reports claimed that hackers stole the personal data of 3.1 cr customers. A&Y Market research expects the stock to correct to 520-530; which is -8% down from Thursday's closing. 

GM Breweries cracked -5% on weak Q2 results. Here’s more details.  

MAS Financial rose +3% after Equirius said it sees a +40% upside from current levels.   

PNC Infratech climbed +5% intraday after winning a Rs 2,090 cr order. 

Here are the closing prints:

R.I.P. Ratan Tata 😢

Corporate titan Ratan Tata passed away last night, capping an over two-decade career that transformed the Tata Group into a global giant! His death is obviously a HUGE loss to the business community, investors, and society at large. Here’s a quick look at his legacy.

1) Global ambitions: Ratan Tata took over his family empire in 1991. It wasn’t easy at first; he had to deal with powerful Tata Group satraps who treated each company as their own kingdom. But he decisively took control and in two decades, he put the Tata Group on the global map. Huge acquisitions from Tetley tea to Corus to Jaguar Land Rover showed that India Inc could conquer the world and had nothing to fear from opening up its economy. This is probably one of his biggest influences on corporate India. 

2) Quick stats: As chairman, he boosted the Tata Group from $5 billion in revenue in 1991 to over $100 billion by the time he retired in 2012. Profits from all group firms also jumped 51x during the same period, which is INSANE. Three listed Tata Group firms are currently among the top 25 biggest Indian companies by market cap: TCS, Tata Motors and of course Titan. Fun fact: TCS has a track record of doubling investor money every 5 years!

3) Philanthropy: After handing over the reins to N Chandrasekaran in 2017, Tata spent the rest of his life dedicated to charitable causes! FYI - 66% of Tata Son’s equity is held by Tata Trusts and ALL dividends flow directly to help support its philanthropic work. Millions of dollars have been donated to healthcare, education and other social justice initiatives. 

Big Picture: Ratan Tata made investors & shareholders a LOT richer by championing nation-building & strong growth. But he was also gentle, kind and known for creating impeccable corporate governance standards. The last bit is something many popular companies and CEOs struggle with even today. A big salute to you sir and Om Shanthi!

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