Latest Stock Market News

TCS fell short of market expectations for the July-September quarter, with net profit declining by 1% quarter-on-quarter to Rs 11,909 crore. The decline was primarily attributed to margin-dilutive projects in regions outside of America. Revenues for the same period also grew at a slower pace, increasing by 2.6% to Rs 64,259 crore.

Gold prices reclaimed the Rs 80,000-level in the national capital on Wednesday driven by increased buying from jewellers and stockists, according to the All India Sarafa Assocation.

Sector-wise, buying was observed in IT, realty, energy, and oil & gas, while selling pressure was seen in power, capital goods, and consumer durables.

The Reserve Bank of India lifted restrictions on Asirvad Micro Finance and DMI Finance. These restrictions had been imposed in October 2024 due to non-compliance with regulatory guidelines. After remedial measures and compliance reports were submitted by the companies, the central bank reviewed and approved the changes, allowing them to resume loan sanctioning and disbursal.

Casagrand Premier Builder, a Chennai-based real estate firm, received SEBI approval for an IPO to raise ₹1,100 crore. Proceeds will address debt repayment and general corporate needs, while expanding operations across South India.

These five stocks from the Nifty 50 index have reported over 40% EBITDA growth in the September quarter, compared to the same period last year, as per StockEdge profitability data.

TCS is expected to report a 0.4% sequential revenue drop for Q3 FY24 due to furloughs and currency headwinds. Net profit may grow 5.8% to ₹12,599.8 crore, supported by operational efficiencies and a weaker rupee.

Prataap Snacks has received an open offer from Authum Investment & Infrastructure and Mahi Madhusudan Kela to acquire 26.01% equity at ₹865.66 per share, totaling 62.98 lakh shares.

The Indian rupee weakened 14 paisa on Wednesday to close at a record low of 85.845/$1, amid strong US economic data and slower Federal Reserve rate cut speculation.