Latest Stock Market News

Thyrocare’s pathology and radiology segments’ revenues grew 16% and 15% YoY, respectively. Meanwhile the revenue from partnerships surged 29% YoY and franchise revenue saw an increase of 11% YoY.

Bajaj Finance reports a 14% YoY increase in net profit but falls short of Street estimates. Brokerages have mixed views on the first quarter results, with concerns over credit costs and growth prospects.

D-Street sentiment remained sour a day after the government raised the tax on gains from equity investments with Sensex, Nifty trading deep in the red.

The government, committed to fiscal discipline, has projected a reduced fiscal deficit and introduced major tax reforms impacting capital markets in the Budget. Focus has been laid on on soft infrastructure, youth employment, and support to MSMEs, highlighting inclusive development.

Federal Bank reported a standalone net profit of Rs 1,009.5 crore for the quarter ended June 30, 2024, up by 18.2% on a YoY compared to Rs 853.74 crore reported in Q1FY24. NII for the quarter stood at Rs 2291.98 crore, a 19.46% rise over Rs 1,918.59 crore reported in Q1FY24.

The stock quoted a 52-week high of Rs 30710.15 and a 52-week low of Rs 23097.05.

The Relative Strength Index of the stock stood at 47.75 on Wednesday.