Latest Stock Market News

In a volatile session, Nifty regained 24,300. Both Nifty50 and Sensex rose over 1%, with Nifty50 up 1.27% to 24,297.50 and Sensex up 1.11% to 79,468. Key active stocks are listed below.

Consolidated revenue from operations stood at Rs 3,427.82 crore in the first quarter as against Rs 3,196.06 crore in the year-ago period, the company added.

Godrej Consumer reported a 41% rise in consolidated net profit, reaching Rs 451 crore for the first quarter ending June 2024, compared to Rs 319 crore in the previous year. However, revenue from operations declined by 3% to Rs 3,332 crore. An interim dividend of Rs 5 per share is set to be paid by September 6.

A total of 1,266 shares changed hands on the counter till 02:04PM (IST).

​Only about two weeks back, we won a big project in Odisha. And we expect that going forward many more projects we will be bidding very aggressively and take a pole position in transmission business too.

On the technical charts, the 200-day moving average of the stock stood at Rs 377.02.

Considering the upper price band of Rs 415, the stock is expected to list at a marginal premium of 3.62%. The weak GMP is reflective of the overall market sentiments as most analysts earlier anticipated a healthy debut for the company.

"Whether the reversal in risk asset prices will prove to be a mere bottom-picking before the sell-off continues or investors have taken the time to thoroughly assess the medium-term implications of the US job data is open for debate," said Tamas Varga of oil broker PVM.

Realisations in the poultry segment were higher from sales of day-old chicks and adult broiler birds, which are reared for consumption, the company said in an exchange filing.

​We already have a few projects undergoing and we will possibly win a few more projects going forward. And we are definitely looking for opportunities in distribution where we are engaged with some of the state governments of the distribution reforms that they can carry out in their state as we have done in Odisha.