Latest Stock Market News

Nestle India Q2 Results: Nestle India reported a consolidated net profit of Rs 899 crore for Q3 2024, slightly down from Rs 908 crore YOY. Revenue from operations grew by 1.3% to Rs 5,104 crore. Despite challenges like muted consumer demand and high commodity prices, the company saw growth in key brands and ecommerce.

On the technical charts, the RSI of the stock stood at 45.49.

The stock traded at a P/E multiple of 65.81, while the price-to-book value ratio stood at 27.81.

A total of 10,871 shares changed hands on the counter till 12:52PM (IST).

Centrum has reduce call on HDFC AMC with a target price of Rs 4,545. The current market price of HDFC AMC is Rs 4,794.5.

Bitcoin has surged past $67,000, fueled by upcoming U.S. elections, Bitcoin ETF inflows, global rate cuts, and improving regulatory clarity, indicating strong upward momentum in the crypto market.

Nokia reported a 9% rise in third-quarter operating profit and sees a demand recovery in some areas. The company maintained its full-year outlook and expects significant growth in the fourth quarter. Comparable earnings before interest and tax rose to 454 million euros. Net sales fell 8% partly due to lower sales to India.

ABB, a Swiss engineering company, reported higher-than-expected operating profits in the third quarter. This success came from its electrification unit. The company raised its profitability outlook for the year but slightly downgraded its revenue growth expectations. The new CEO, Morten Wierod, started in August, following an operational overhaul by former CEO Bjorn Rosengen.

The Nifty Pharma index was trading 0.74 per cent down at 23293.9.