The Nifty spurted 24 points to scale a new record of 10,101 and the Sensex rallied over 100 points at the open today, fuelled by strong corporate earnings and positive global developments.
Companies and Markets
Companies & Markets
Public sector lender Bank of Maharashtra, on Monday reported a net loss of Rs 412.20 crore for the June quarter against a net loss of Rs 397.40 crore in the year ago quarter, as the bank's non-performing assets continued to increase and it was unable to lend more on the back of weak credit demand.
An analysis of Nifty 50 says 15 stocks have been a part of Nifty 50 since the launch of the index in 1996. These are all-weather companies and are worth holding for your retirement years given their return and longevity.
The benchmark Nifty today climbed to a fresh high of 10,043 and the Sensex surged over 133 points in the opening session, underpinned by a strong dose of better-than-expected corporate earnings.
The benchmark BSE Sensex today fell by 73 points as investors booked profits in pharma, banking and auto stocks after disappointing financial results.
Shares of ITC today rose by over 2 per cent after the company reported 7.37 per cent rise in standalone net profit for the first quarter ended June 30
Shares of country's largest private sector lender ICICI Bank were down 1.71 per cent to Rs 301.80 even as the company yesterday reported a marginal rise of 3.5 per cent in consolidated net profit for the first quarter of the current fiscal.
ITC on Thursday registered a standalone net profit of Rs 2560.50 crore, up 7.3 per cent from Rs 2,384.67 crore earned during the same quarter last year, riding on a 9 per cent revenue growth in ‘FMCG-others’ segment. However, the company’s standalone net profit in Q1FY18 dropped by 4 per cent on a quarter-on-quarter basis. It had posted a net profit of Rs 2669.47 crore in Q4FY17.
The company’s total revenue from operation in Q1FY18 stood at Rs 13,800.42 crore against Rs 13253.06 crore in Q1FY17.
With India offering one of the highest yields in Asia, the local debt market has become a hot destination for foreign portfolio investors (FPIs). In the first quarter alone, FPIs pumped in $10.11 billion in the debt market, the highest in a decade.
The power ministry has stepped up the process to set up a fund with initial corpus of $1 billion to enable alternative financing options for stressed power assets.
The proposed fund will function under the ambit of the National Investment and Infrastructure Fund (NIIF) and offer equity support to power projects that are stalled due to shortage of capital, lack of fuel linkages and power purchase agreements (PPAs).