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Revenue from operations stood at Rs 808 crore, down 17% YoY from Rs 976.44 crore reported in the corresponding quarter of the previous financial year. The overall revenue was down because of a decline in revenue of the company’s oil seed segment.

The Nifty Pharma index closed 2.2 per cent up at 22036.95.

“The Board of Directors of Godawari Power and Ispat Limited ("the Company") at its Meeting held today i.e. on August 07, 2024, has considered and Approved the proposal for sub-division of equity share of face value of Rs.5/-each of the Company into 5 (Five) equity shares of Re.I/- each, subject to approval of the Shareholders of the Company in ensuing Annual General Meeting,” said the company in a filing to the exchanges.

The stock quoted a 52-week high price of Rs 3244.65 and low of Rs 2293.1.

Asia’s richest billionaire, Mukesh Ambani, has chosen not to take a salary from Reliance Industries (RIL) for the fourth consecutive year. RIL’s latest annual report confirms that Ambani, as Chairman and Managing Director, has foregone his salary since the height of the Covid crisis in 2020.

Amid a recent stock selloff, analysts examined whether S&P 500 stocks were overvalued. Findings revealed that many companies trade below 18 times long-term earnings, yet significant players like Broadcom and Tesla remain overbought. Potential corrections could impact the market. Analysts are cautiously optimistic about long-term earnings despite current market skepticism.

Probal Sen from ICICI Securities highlighted the promising outlook for ONGC and Oil India. He emphasized that both companies have shown steady production growth and stable net realizations. Market confidence in ONGC has improved, while Oil India has consistently met its growth targets, reflecting in their strong performance over recent quarters.

“We wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e., August 07, 2024, have, inter alia, approved the Buy-back of up to 10,00,000 (Ten Lakhs Only) fully paid-up Equity Shares of face value of ~ 2/- each by the Company (representing 1.06% of the total number of Equity Shares of the Company) at a price of ~ 5,000/- (Rupees Five Thousand) per Equity Share payable in cash for a total consideration not exceeding ~. 500,00,00,000/- (Rupees Five Hundred Crores only),” said the company in its filing to the exchanges.

​So, I think that premiumisation game continues to be the theme out there. And we are seeing a similar trend within the two-wheelers also where what used to be 100cc or 125cc market is now going to 150cc to 350cc-plus kind of market, so that is the theme that we are seeing across the products, across the categories.