Latest Stock Market News

IndusInd Bank is expected to report a net profit in the range of Rs 2,140 to Rs 2,456 crore for the quarter ended June 30, 2024, according to the estimates by brokerages. The growth in the April-June quarter profit after tax (PAT) could be between 0.7% and 15.6% on a year-on-year (YoY) basis, these estimates revealed, indicating a wide range in PAT growth.

The 30-share BSE benchmark Sensex fell 109 points or 0.14% to settle at 80,039. The broader NSE Nifty dropped 7 points or 0.03% to end at 24,406.

Ramkrishna Forgings Ltd on Wednesday posted over 3 per cent rise in consolidated net profit to Rs 81 crore during the June quarter, on account of higher income. It had clocked Rs 78.52 crore profit for the period ended June 30, 2023, the company said in an exchange filing.

A total of 18,773 shares changed hands on the counter till 02:10PM (IST).

Tata Consumer Products announced a Rs 3,000 crore rights issue to eligible shareholders, offering 3.67 crore equity shares at Rs 818 each. The ex-rights date was July 26, and the record date was July 27. The issue opens on August 5 and closes on August 19.

Cipla reported Q1FY25 net profit expected between Rs 1,061-1,135 crore, with YoY growth of 6.5%-14%. Revenue estimated at Rs 6,749-6,879 crore, up 7%-10% YoY. Analysts from Kotak, Axis, JM Financial, and InCred provide diverse profit and revenue expectations based on domestic sales, US contributions, and acquisitions.

InterGlobe Aviation, India’s top airline by market share, was expected to see a substantial drop in its year-on-year net profit for Q1FY24 due to higher fuel costs, a weak load factor, and the Delhi T1 terminal roof collapse. Brokerage estimates indicated mixed sequential profit growth and varying revenue projections.

The Relative Strength Index of the stock stood at 42.87 on Thursday.

Ashok Leyland reported a 9% YoY decline in net profit to Rs 526 crore for Q1 ending June 2024, missing estimates. Revenue rose 5% to Rs 8,599 crore. The company saw strong demand across all segments, contributing to its highest-ever Q1 CV volumes. EV subsidiary Switch Mobility launched its second e-LCV. Shares traded slightly lower.

The stock quoted a 52-week high price of Rs 340.35 and a 52-week low of Rs 123.55.