Monday, January 06, 2025 | 06:39 AM ISTEN Hindi

Stock Market Highlights, April 24: RIL, IT shares cap gains on Sensex, Nifty; metals shine

Stock market highlights on Wednesday, April 24: n the broader markets, the BSE MidCap and SmallCap indices outperformed the benchmarks by settling 0.92 per cent and 0.79 per cent higher, respectively

SI Reporter New Delhi

10:35 AM

ICICI Prudential Life Insurance slips 7% on disappointing Q4 results

The net premium income of the insurer increased to Rs 2,549.84 crore, rising 9.89 per cent Y-o-Y over Rs 2,320.35 crore in Q4FY23. The Annualised Premium Equivalent (APE) of the company rose 9.54 per cent Y-o-Y to Rs 3,615 crore from Rs 3,300 crore in Q4FY23. READ MORE

10:25 AM

Market Check :: Sensex at day's high

10:12 AM

ALERT :: USFDA issues 10 observations for Zydus Life's Vadodara unit

The USFDA conducted an inspection at the Injectable Manufacturing site situated at Jarod, near Vadodara.

The inspection was conducted from April 15 to April 23, 2024.

The inspection closed with 10 observations. The company will closely work with the USFDA to address and respond to the observations in an expeditious manner.

9:59 AM

Comment :: Here's why it makes sense to stay invested in markets during this volatility

The ability of bull markets to climb all walls of worries is being demonstrated by the ongoing bull market, which has shrugged off all headwinds, be it geopolitical or economic.

The Middle East tensions had only a temporary impact on the market. The scaling down of rate cuts by the Fed from six at the beginning of this year to three or perhaps two or even lower also has not impacted the bull run. And, the indication from the sharp decline in the volatility index VIX by around 20% to 10.2 is that the downside risk to the market is low.

So it makes sense to remain invested in this market and to continue investing by buying the dips. Since the US 10-year bond yield continues to remain above 4.6% FIIs will remain sellers putting pressure on largecaps like leading private sector banks. For long-term investors, this segment is a buying opportunity.

Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

9:48 AM

Puravankara gains 5% on appointment as developer for Mumbai's Pali Hill redevelopment project

Real estate developer, Puravankara, has been appointed as developer for Mumbai's Pali Hill redevelopment project.

The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, with over 2.15 lakh sq ft available for sale, and a potential Gross Development Value (GDV) of over Rs 2,000 crore, the company said.

9:41 AM

Lupin receives EIR for Aurangabad facility

Lupin has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for its Aurangabad manufacturing facility. The USFDA has determined that the inspection classification of the facility is Voluntary Action Indicated (VAI).

9:38 AM

SBI Card off highs; Co launches credit cards for travel enthusiasts

The credit card arm of State Bank of India, SBI Card, has introduced its inaugural travel-centric core credit card, 'SBI Card MILES'.

The card promises comprehensive travel benefits, including the conversion of Travel Credits to Air Miles and Hotel Points, enhanced rewards on all travel bookings, and access to airport lounges.

9:36 AM

Nelco falls 3% post Q4 result announcement

Nelco Ltd on Tuesday reported a 7% year-on-year increase in net profit at Rs 6.1 crore for the fourth quarter that ended March 31, 2024.

The company's revenue from operations dipped slightly by 0.5% to Rs 81.6 crore.

9:33 AM

MCX sinks 5% as Q4 revenue falls sequentially

Multi Commodity Exchange of India Limited (MCX) earned a net profit of Rs 87.8 crore during the January-March quarter of FY24 vs loss Y-o-Y.

The exchange in the commodity derivatives market segment reported a 35% Y-o-Y rise in its revenue to Rs 181.1 crore.

Despite an annual rise in its revenue, the Mumbai-based exchange reported a 5.42% sequential decline in its revenue from Rs 191.53 crore reported during the quarter ended in December.

9:28 AM

ICICI Prudential Life slides nearly 4% as Q4 PAT drops 26%

Private life insurer ICICI Prudential Life Insurance recorded a 26 per cent Y-o-Y drop in net profit to Rs 173.76 crore in Q4FY24, on account of increased expenses. Sequentially, the net profit dropped almost 23 per cent.

The Value of New Business (VNB) of the company declined 26.44 per cent Y-o-Y to Rs 776 crore, while, the VNB margin dropped to 21.46 per cent as compared to 31.97 per cent in Q4FY23.

9:26 AM

Tata Consumer Products falls 4% post weak Q4

TCPL's net profit fell 19.3 per cent to Rs 217 crore in the March quarter of FY24 (Q4FY24) on account of exceptional items. Its revenue was up 8.5 per cent at Rs 3,927 crore during the quarter, with strong performance seen in the India business, which grew 10 per cent in the quarter.