Maruti Suzuki (+6%) posts 4X profit; Sun Pharma (-3%) & more
Maruti Suzuki (+6%) posts 4X profit; Sun Pharma (-3%) & more
Tribe Daily
Market Summary
Nifty post minor gains while broader markets underperform. Nifty gains 50 points
Companies
Maruti Suzuki's (+6%) after-profit soars by 4X to Rs 2,062 Cr. Reliance Industries (+4%) after the company posts positive Q2 results. Sun Pharma (-3%) after Taro Pharma (it’s US subsidiary) reports a loss.
Sectors
Nifty Auto(+2%) after Maruti Suzuki posts impressive profits. Nifty Oil & Gas(+2%) as Supreme Petrochem LTD approves 100% dividend for FY23.
News of The Day
1. Shares of SBI Cards and Payment Services (-7%) to Rs 800 after the company reported a modest set of earnings for the second quarter. ( Economic Times)
2. Shares of Aditya Birla Sun Life AMC (-8%) to Rs 400 after the company reports a 6% decline in sales. ( Economic Times)
3. Maruti Suzuki's profit soars by 4X to Rs 2,062 crore. The revenue increased by 46% to Rs 29,931 crore. (Economic Times)
4..Shares of Infibeam Avenue(+20%) hit the upper circuit after the fintech company received a nod from the RBI for a payment aggregator license (Economic Times)
5. NSE issues cease and desist notice to stock gaming apps. (Your Story)
Expert of The Day
Latest Blog:
How is renewable energy a game changer for India's energy requirements?
Articles You Like to Read
The story of India’s digital payment revolution- a public good gone viral. ( Source: Economic Times)
Why India’s recovery will likely be cut short despite strong foundations. ( Source: Economic Times)
Why Indian universities should now unlearn and relearn. (Source: Economic Times)
Latest on our Social:
Follow our Socials
Looking for fantastic content on the stock market, trading and investing?