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Tata Investment Corporation reported a flat net profit of Rs 124 crore in Q2FY25. Total revenue stood at Rs 142.48 crore, up 15% YoY. Dividend income was Rs 102.14 crore, while interest income was down YoY and QoQ. The stock closed at Rs 6,890, up 1.74% on Thursday

However, those hopes were dimmed a few days later after RBI Governor Shaktikanta Das said it would be very premature to cut rates at this stage, a thought policymakers largely echoed, as the minutes of their meeting showed last week.

The Nifty Pharma index closed 1.61 per cent at 22735.55.

Nifty opened flat and traded within a narrow range, closing negatively at 24,205, noted Hrishikesh Yedve from Asit C. Mehta Investment Intermediates. He highlighted that the Nifty Smallcap 100 index outperformed the benchmarks, gaining around 1.15%

The Nifty Bank index closed 0.64 per cent at 51475.35.

An ETMarkets study shows that foreign institutional investors (FIIs) have steadily increased their investments in 112 small-cap stocks over the last four quarters (December 2023 to September 2024).

Waaree Energies shares zoomed 12% to a new record high of Rs 2,718, marking the fourth consecutive day of gains. The stock debuted at Rs 2,550, a 70% premium over the issue price. With a strong debut and overwhelming IPO subscription, the stock is expected to have a strong long-term outlook.

Equity markets will remain closed on Friday on account of Diwali. However, exchanges will conduct a special Muhurat Trading session for an hour between 6:00 pm and 7:00 pm.

Although off their 2024 peaks, Indian benchmark indices have delivered strong returns since last Diwali, with Nifty up by 25% and the S&P BSE Sensex rising 23%. Broader markets outperformed, with the BSE 500, BSE Midcap, and BSE Smallcap indices gaining 37%, 47%, and 47%, respectively, over this period.