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​EIH Limited, the flagship company of The Oberoi Group has posted a profit of Rs 677.7 crore for financial year 2024, up 105.9% year on year. The luxury hotel chain posted revenues of Rs 2626 crore for fiscal year 2024, up 25.3% year on year.

Yields jumped on Tuesday after consumer confidence unexpectedly improved in May and the Treasury Department saw soft demand for auctions of two-year and five-year notes.

TPG Asia had acquired around 21% stake in RR Kabel five years before the IPO, which was launched in late 2023. Since then, the PE firm has gradually cut its stake in the company.

The S&P BSE Sensex fell over 600 points while the Nifty50 closed at 22,704. Buying was seen in utilities, power, healthcare, and telecom stocks while IT, oil & gas and banks saw some selling. JSW Infrastructure rose over 2%

The Dow Jones Industrial Average fell 136.6 points, or 0.35%, at the open to 38716.28.

In the unlisted market, Awfis Space Solutions shares are trading with a grey market premium of Rs 125, translating to a 27% gain over their issue price. The IPO received an overwhelming response with an overall subscription of over 100 times at close.

Auto components maker Samvardhana Motherson International Ltd on Wednesday posted a two-fold jump in consolidated net profit to Rs 1,444 crore for the fourth quarter ended March 2024. The company had reported a net profit of Rs 699 crore in the January-March period of the last fiscal.

Jagran Prakashan Ltd, the publisher of Hindi daily Dainik Jagran, on Tuesday reported a 74.1 per cent decline in its consolidated net profit to Rs 6.02 crore for the fourth quarter ended on March 31, 2024.

Short buildup means more people are expecting the prices to drop and creating short positions