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The pizza company saw a 10% year-over-year increase in operational revenue during the quarter, reaching Rs 1,439.6 crore, primarily driven by 8.5% growth in its India operations. EBITDA rose slightly by 0.7% to Rs 278.2 crore, though margins decreased by 1.8 percentage points compared to the same period last year.

Kennametal India saw an 8.3% rise in revenues, reaching Rs 302.4 crore for the June quarter, driven by the hard metal and machining solutions groups. Profit before tax climbed 48.7%.

The Nifty Auto index closed 1.72 per cent up at 25346.65.

Short covering signals a shift from extreme bearishness to bullishness

Jatin Gedia of Sharekhan observes that the Nifty, after a drop from 25,100 to 23,900, is currently in recovery mode. He predicts a potential rally towards 24,520-24,651, aligning with the 50% and 61.82% Fibonacci retracement levels. The immediate support level is anticipated at 24,200-24,150, coinciding with the 40-day moving average

The Indian rupee ended at 83.9550 against the U.S. dollar, reflecting its sixth straight weekly decline. Despite a slight uptick on Friday, corporate dollar demand and potential central bank intervention shaped its performance.

Positive U.S. jobless claims data eased recession fears, boosting Indian indices Nifty and Sensex at the open. Despite some profit-taking, both closed 1% higher, with notable stocks active on Friday

Trent Limited, part of Tata, saw a 130.8% yoy rise in standalone net profit for Q1 ending June 2024, reaching Rs 342.15 crore. Revenue increased by 57.4% to Rs. 3,991.74 crore.

The company proposes to issue 1,70,000 NCDs of face value Rs 1 lakh each, aggregating to Rs 1,700 crore, on a private placement basis to eligible investors

Prateek Agrawal, MD & CEO of Motilal Oswal Asset Management, observed a rise in sector and thematic fund inflows, shifting focus away from mid and smallcap funds. He suggested that fund performance drives investor interest. Agrawal also noted that domestic investor behavior is becoming more structural and persistent in the long term, despite recent shifts.