Management sees increased opportunities in the existing and new clients based on the current business environment.
The markets traded lackluster and ended slightly lower, continuing the ongoing consolidation phase. After a flat start, the Nifty fluctuated within a narrow range, eventually closing at 24,413.50.
The uptick in stock price came after the company posted a strong set of second quarter of calendar year 2024 (Q2CY24) results.
Nestle India experienced robust revenue growth during the quarter. The company, analysts believe, gained from enhanced distribution. Thus, it is expected to see margin expansion of over 100 bps.
Stocks to Watch today, Wednesday, July 24, 2024: HUL reported a 2.2 per cent Y-o-Y rise in consolidated net profit at Rs 2,610 crore for Q1FY25, in line with market expectations
The fall came after investors flocked to book profits after strong Q1FY25 results.
The surge in the stock price came after the company announced that it has inked a deal with Dolphin Drilling for hiring of Blackford Dolphin.
The fall in the stock price came after the company announced a weak set of June quarter of financial year 2025 (Q1FY25) results.
The uptick in the stock price came after the company announced that it has secured an order from the Ministry of Railways (Railway Board).
The uptick in the stock price came after the company announced that it has secured a letter from East Central Railway regarding the appointed date for the project in Bihar.
Analysts said BPCL reported a robust performance in the June quarter (Q1FY25) despite a challenging environment.
From a technical standpoint, the daily chart has revealed an inverse head and shoulders pattern with a neckline at Rs 1,620 & Bajaj Finserv stock is holding steady above this level around Rs 1,640.
In a separate exchange filing, RVNL informed that the Hon'ble tribunal has passed an award of Rs 584.22 crore in favour of its joint venture company i.e. Krishnapatnam Railway Company Limited (KRCL).
The share price rose after the company announced that it has secured mutli-million dollar contract extension from Absa Bank.
The bank's standalone net profit rose 45.4 per cent to Rs 294.1 crore in Q1FY25, as opposed to Rs 202.4 crore in Q1FY24.
The IPO comprises a fresh issue of 41.8 million shares valued at Rs 397.1 crore and an offer for sale (OFS) of 11.9 million shares worth Rs 113.05 crore.
Earlier this week, Hindustan Unilever approved the sale of its water purification business to AO Smith India for an Enterprise Value (EV) of Rs 601 crore or $72 million.
At 6:36 AM, GIFT Nifty futures were up 19 points, trading at 24,828.50 levels, indicating a higher start for the day.
Some brokerages have reduced target prices after muted Q1 showing
Stock Market LIVE updates, today, July 18, 2024: Among sectors, the Nifty IT was up 0.4 per cent, the Nifty Bank, and FMCG were up 0.3 per cent, and the Nifty Financial Services up 0.2 per cent