Stock Market Today: With a discount of around 185 points from the Nifty futures’ last closing, the Gift Nifty is trading at about 24,850 while writing. Gift Nifty’s tendencies suggest that the Indian benchmark index is off to a bad start. Following strong losses in global counterparts, the major indices of the Indian stock market, the Sensex and Nifty 50, are expected to open lower today. However, the Nifty 50 was up by 59 points yesterday, which was over the 25,000 level as it concluded the day continuing its range-bound trend with a positive tilt.
Stock Market Today: Stocks in focus
Zomato
Zomato is an international meal delivery and restaurant aggregator startup based in India. As of 2022–2023, Zomato offers meal delivery choices from partner restaurants in more than 1,000 Indian cities and towns, along with restaurant information, menus, and user ratings. Zomato Ltd, a leading online food delivery company, exceeded Street predictions in the first quarter by reporting a multifold increase in its consolidated net profit year over year to Rs 253 crore.
Adani Enterprises
Adani Enterprises Limited (AEL) is a holding company that is publicly listed in India and is a component of the Adani Group. Its business interests span across a number of industries, including edible oils, data centres, road, rail, and water infrastructure, airport operations, and solar manufacture. These are all held through its numerous subsidiaries. The consolidated net profit of Adani Enterprises, the flagship company of the Adani group, increased 116% year over year to Rs 1,454 crore in the first quarter that concluded in June 2024.
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