Wednesday, 17 July 2024
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Stock Market

While markets are volatile, GMDC, Zomato, and TCS are the most active

  • The Information Technology index fell by 0.5%, but metal and oil and gas experienced increases of 1.1% apiece.
  • Although TCS’s Q2 earnings beat street estimates, the buyback price fell short of projections.
  • TCS is regarded as equal weight by Morgan Stanley, which has lowered its target price per share to Rs 3,590.

The Information Technology index fell by 0.5%, but metal and oil and gas experienced increases of 1.1% apiece, as the National Stock Exchange (NSE) witnessed a spike in the number of active shares. On October 12, shares of PCBL, a business whose ideas about specialty-grade and surface-modified carbon black have been given two patents, surged by 7%.

Although TCS’s Q2 earnings beat street estimates, the buyback price fell short of projections. For the first time in several quarters, US dollar revenue fell, although Q2 EBIT margin exceeded forecasts.

Today’s Stock Market

The board authorized a buyback of Rs 17,000 crore, or a premium of around 15%, for Rs 4,150 per equity share. Deal wins for the period were $11.2 billion, up 9.8% from the June quarter.

V J Kurian’s appointment to the position of Non-Executive Part-Time Chairman (Independent Director) at South Indian Bank has been authorized by the Reserve Bank of India.

In Bangladesh, Robi Axiata and Route Mobile’s subsidiary have teamed to provide RCS business messaging with technical enablement and sales support. TCS is regarded as equal weight by Morgan Stanley, which has lowered its target price per share to Rs 3,590.

Aditya Birla Renewable Energy Limited has awarded KP Energy a new contract to create the 23.1 MW wind plant balancing that is part of the wind-solar hybrid power project.

In the second quarter, Patanjali Foods recorded a double-digit sequential gain in the food and FMCG segment and a single-digit YoY growth in the volume of sales of edible oil.

The Central Goods and Services Tax Act stipulates a penalty of Rs 64.98 lakh, which Larsen & Toubro has received from the Assistant Commissioner of CGST & CX, Gangtok Division, Gangtok, Sikkim.

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