Latest Stock Market News

The holding company, Vedanta Resources (VRL), which holds a 56.3% stake in India-listed Vedanta, relies on dividends from its operating subsidiaries to meet its repayment obligations. Vedanta pays annual brand fees, of 2-3% of turnover and is projected at around $300 million, to parent VRL, helping it in servicing its debt obligations.

Financing costs increased 31% year-on-year to ₹1,645 crore during the quarter. Provisions on bad loans increased to ₹636 crore from ₹283 crore a year ago as the bank sought cover for rising non-performing assets (NPAs). Net interest margin (NIM) dropped to 7.5% from 7.7% a year ago.

Although 63% of participating shareholders supported the resolutions, 37% voted against them. As these were special resolutions, they required at least three times more votes in favour than against to pass, which was not achieved.

Water purifier company Kent RO Systems Ltd has filed preliminary papers with markets regulator Sebi seeking approval to float an initial public offering (IPO).

Tips Music reported a 27% YoY net profit growth to ₹44.2 crore in Q3FY25, supported by a 20% revenue rise. Strong digital performance and global collaborations fueled growth, with YouTube views increasing 17% YoY.

Pidilite Industries reported a 9% YoY increase in Q3FY25 net profit to ₹557 crore, with revenue rising 8% to ₹3,369 crore. Gross margins improved due to lower input costs.

Gold prices rallied by Rs 630 to a lifetime high of Rs 82,700 per 10 grams in the national capital on Wednesday following persistent buying by jewellers and retailers amid strong global trends, according to the All India Sarafa Association.

Markets rebounded as IT and pharma stocks led gains; Nifty signals recovery but needs to breach 23,500 for sustained bullish momentum.

Wendt (India) Ltd reported consolidated profit for the October-December 2024 quarter at Rs 8.22 crore, the company said on Wednesday.