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The Sensex and Nifty indices opened higher on Wednesday, buoyed by softer U.S. producer price data, which suggested a potential Federal Reserve rate cut. TVS Motor displayed bullish momentum after an 8-day consolidation breakout, whereas Tata Steel showed bearish trends, breaking down from a bearish Pennant pattern in recent sessions.

Hindalco reported higher-than-expected sales for the quarter, driven by strong demand and operational efficiency. Consolidated EBITDA soared 31% year-on-year to Rs 7,992 crore. MD Satish Pai stated that the company will stick with its Rs 600 crore guidance, focusing on profitability rather than top-line growth as aluminium prices influence revenue unpredictably.

The stock quoted a 52-week high price of Rs 258.95 and a 52-week low of Rs 157.65.

A total of 1,466 shares changed hands on the counter till 12:07PM (IST)

Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 12.61 per cent and 6.72 per cent, respectively.

Nykaa Share Price: Nykaa saw its shares rise by 6% after reporting a 152% year-on-year increase in net profit for June 2024, reaching Rs 13.64 crore. Revenue for the quarter was Rs 1,746.11 crore, up 23%. The board also approved further stakes in Dot & Key Wellness and investment in Earth Rhythm, boosting its business strategy.

The stock quoted a 52-week high price of Rs 1476.9 and low of Rs 997.4.

It is an uptrend signal if the RSI value has crossed above 50 from below.

Rakesh Jhunjhunwala, also known as the Warren Buffett of India, passed away two years ago. Renowned for his long-term investment strategy and faith in competent management, Jhunjhunwala managed Rare Enterprises. His legacy emphasizes patience, pragmatism, and learning from mistakes, guiding modern investors today.

Over the last 20 years, the Nifty has outperformed other major asset classes such as the S&P 500, gold, real estate, and debt indices. Achieving a CAGR of 16%, Nifty grew almost 20-fold. Meanwhile, the S&P 500 managed a 14% CAGR. Gold, real estate, and debt investments saw 13%, 8.4%, and 7.5% CAGR respectively.