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SpiceJet Q1 Results: Budget carrier SpiceJet Ltd reported 20% decline in its consolidated net profit at Rs 158 crore in the first quarter ended June 2024. The same stood at Rs 198 crore in the last year period.

Earlier on Wednesday, its parent company Vedanta revised its stake sale in HZL to 3.31% via the OFS route from an earlier plan of selling 2.60%. The metal and mining major will now be selling 14 crore shares instead of 11 crore shares in HZL it had announced on Tuesday.

Securities, dividends and debentures that remain unclaimed for more than seven years are transferred by companies to the IEPFA under the corporate affairs ministry. The authority then oversees claim settlements, with the companies playing a key part in verification and other processes.

Motilal Oswal recommended buying Gravita India shares with a target price of Rs 2,350, driven by industry tailwinds and favorable policies. Gravita’s core lead recycling business is set to grow, along with its Aluminum and Plastic segments. Risks include supply chain issues and regulatory changes.

Prior to this, Technocraft Industries has conducted share buybacks three times, in 2022, 2017, and 2015, according to data available on Trendlyne.

The announcement was made during market hours and the stock fell to a low of Rs 544 on the NSE, down more than 6% on intraday basis, after the Supreme Court allowed states to collect past dues on royalty on minerals-bearing land from Centre. Not just HZL, others including NMDC, Tata Steel, Vedanta and MOIL also fell by up to 5%.

While the currency rose to a high of 83.9025 early in the session, traders said it succumbed to pressure from dollar bids by foreign banks and importers.

The Nifty closed nearly flat, impacted by mixed investor sentiment ahead of the U.S. CPI data. Gains in IT stocks, thanks to soft U.S. producer price data, were offset by profit booking. Leading gainers were TCS and Infosys, whereas sectors like Nifty Bank and Pharma declined.

As of 30-Jun-2024, promoters held 46.64 per cent stake in the company, while FIIs held 14.73 per cent and domestic institutional investors had 1.41 per cent.

A total of 13,776 shares changed hands on the counter till 02:05PM (IST)