Latest Stock Market News

Further, Kamath has also been appointed as an independent director and non-executive Chairman of Reliance Strategic Investments, the entity that will house the financial services business of the conglomerate and be renamed as Jio Financial Services.

Revenue from operations stood at Rs 1,883.5 crores last quarter, as against Rs 1,678.8 cores reported in the same period last fiscal. EBITDA for the quarter came at Rs 152.7 crore, compared to Rs 226.7 crore in the year-ago period due to high raw material prices and inferior product mix.

The Dow Jones Industrial Average rose 263.76 points, or 0.82%, at the open to 32,265.01

For more such web stories click on the ET icon below

​Operating EBITDA (Earnings before interest, tax, depreciation and amortisation) for the company grew by 31% to Rs. 737 crore in the second quarter, compared to EBITDA of Rs 563 crore recorded in the year-ago period. The EBITDA margin for the quarter stood at 10.2% as against 10% reported in the second quarter of 2021-22.

“We are trying to optimise our production cost and channel margin. Most of the benefits that we have taken from last year to this year, have come out of the general reduction and very little from the price increase to the consumer. Going forward also, we intend to do the same thing but not hike prices.”

Now, Nifty has to hold above 18,000 zones, for an up move towards 18,350, then 18,500 zones whereas supports are placed at 17,950 and 17,888 zones,” said Chandan Taparia of Motilal Oswal Financial Services.The index maintained its position above its 200-DMA, and the momentum indicator RSI is in a bullish crossover..

The jewellery business, excluding bullion, saw an 18% YoY growth in revenue to Rs 7,203 crore. Watches and wearables business revenue increased 21% on year to Rs 829 crore. The eye care business reported a 4% growth in revenue to Rs 167 crore.

In the previous June ended quarter, the bank reported a 20% year-on-year (YoY) rise in net profit to Rs 392 crore versus Rs 327 crore in the same quarter of the previous year.

The National Stock Exchange (NSE) listed company has won a major project of EV charger supply from the state-run oil marketing major, the company said in an exchange filing.