Latest Stock Market News

Indian markets ended higher for the fourth consecutive day, buoyed by positive global signals. Sector-wise, there was buying interest in healthcare, metal, power, and utilities, while energy and real estate stocks experienced selling pressure.

The profit figure is is lower than the Street estimates of Rs 994 crore. Revenue from operations during the reporting quarter declined 8% year-on-year to Rs 54,771 crore, compared with Rs 59,490 crore in the corresponding quarter of last year.

Gold prices in India plummeted to ₹67,400 per 10 grams, the lowest since March, due to a combination of reduced import duties and worries about Chinese demand. The government has slashed customs duties on gold and silver by 6%. The basic customs duty has been reduced to 5% from 10%, and the Agriculture Infrastructure and Development Cess lowered to 1% from 5%.

Coal India Q1 Results: Revenue from operations during the April-June 2024 period was up marginally year-on-year to Rs 36,465 crore. Sequentially, net profit increased by 26% from Rs 8,682 crore reported in the previous March quarter. Meanwhile, revenue declined by 3% quarter-on-quarter. The company reported consolidated EBITDA of Rs 14,339 crore for the reporting quarter, with margins at 39.3%.

The Indian rupee remained unchanged at the end of market hours on Wednesday, but weakened to an all time intra day low of 83.745 per US Dollar due to continuous dollar demand from local importers and volatility in crude oil prices.

The Indian rupee reached a record low of 83.72 against the U.S. dollar, driven by equity outflows, volatility in the yuan, and strong dollar demand.

Tata Motors Q1 Expectations Preview: Analysts expect JLR volumes (excluding China JV) to increase by 9% YoY led by strong growth in Range Rover, Range Rover Sport and Defender model volumes. Overall, revenues (ex China JV) to increase by 6% YoY in 1QFY25.

The Nifty traded within a 130-point range, failing to breach 25k for the third session, while the Sensex remained range-bound. Both indices closed flat with a positive bias.

Food delivery giant Zomato is expected to continue its solid performance, seen in the last few quarters, through to the April-June 2024 period, led by robust show across businesses.