Sensex ends flat in choppy trade; Metals gain; Asian Paints dips 4%, ITC 2%

CLOSING BELL ON JULY 25, 2023: The NSE Nifty ended 8 points higher; Tata Steel and JSW Steel were the major gainers on Tuesday.

9:32 AM

Relaxo Footwear down over 1% on profit booking post Q1

Its Q1 profit was 46 per cent higher at Rs 56 crore from last year. Q1 revenue was at Rs 739 crore, up 11 percent YoY. EBITDA stood at Rs 108 crore; margins at 14.6 percent up by 165 bps YoY. The decline in raw material prices led to improved operating efficiency and profitability during the quarter, the company said.

9:31 AM

ITC drops 3%, drags benchmarks in red

>> The company has announced demerger of its hotels business

9:29 AM

LIC Housing Finance fixes August 18 as record date for dividend

The company has fixed August 18 as the record date for the purpose of ascertaining the eligibility of members for payment of the final dividend. The final dividend, if approved by the members in the 34th AGM, will be paid to the eligible members within the stipulated period of 30 days from the date of AGM.

9:28 AM

TVS Motor up 1% on 42% YoY surge in Q1 PAT

The automobile major has posted a 42 per cent rise in consolidated net profit during the first quarter of 2023-24 to Rs 434 crore, as compared to Rs 305 crore during the April to June period of 2022-23, driven by a rise in sales and revenue. During the quarter under review, the company’s revenue from operations also increased by 24 per cent from Rs 7,316 crore in April to June quarter of 2022-23 to Rs 9,056 crore during the Q1 of FY24.

9:26 AM

Tata Steel dips mildly post Q1 results; net profit falls to Rs 525 cr vs Rs 7,714 crore YoY

The Tata Group company reported a net profit of Rs 525 crore in the first quarter of 2023-24. Its net profit was Rs 7,714 crore in the same quarter a year ago, and Rs 1,566 crore in the quarter ending March 2023. The total revenue from operations came in at Rs 59,490 crore, which is 6.3 percent lower and around 5.5 percent lower over Q3.

9:24 AM

Reliance Industries to develop data centres in India; stock flat

RIL has agreed to invest, alongside Brookfield Infrastructure and Digital Realty, in its Indian special- purpose vehicles (SPVs) for developing data centres in India. The oil to telecom conglomerate said it would hold a 33.33 per cent stake in each of the related Indian SPVs of Brookfield and Digital Realty and become an equal partner. 

9:21 AM

Broader market indices swim in green; SmallCap index up 0.6%

9:20 AM

Sectoral trends :: Metal, Realty indices gain 0.7% each; FMCG, IT in red

9:18 AM

Sensex Heatmap :: 11 of 30 index stocks in red; ITC, Asian Paints, Infy lead the losses

9:17 AM

Opening Bell :: Nifty up 25 pts in early deals

9:16 AM

Opening Bell :: Sensex starts near 66,500

9:08 AM

Pre-Open Session :: Nifty reclaims 19,700

9:07 AM

Pre-Open Session :: Sensex rises over 150 pts

9:03 AM

CURRENCY ALERT: Rupee opens 11 paise stronger at 81.72/$

.

8:58 AM

Rising markets fails to lift up new investor addition by mutual funds

Even as the returns of mutual fund (MF) schemes have improved considerably in the last three months, addition of new investors has remained in the slow lane for the MF industry. According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. READ