Stock Market Today: GIFT Nifty on the NSE IX traded 15 points, or 0.08 percent, lower at 19,666.50, indicating Dalal Street would have a down day on Tuesday. Nifty on Monday formed a modest green candle with slight upper and lower shadows on the daily charts, finishing 80 points higher and barely below the 19,600 mark.
Stock Market Today: Asian market opened lower
As investors awaited inflation data from China and the United States to provide an updated assessment of the state of the global economy, Asian share markets were generally lower as the U.S. dollar rose on Tuesday.After U.S. stocks concluded the previous session with modest gains, MSCI’s largest index of Asia-Pacific shares outside of Japan increased by 0.9% on Tuesday. This month, the index has fallen 2.8% so far.
Rupee gains by 6 paisa
In line with rising domestic equities and declining crude oil prices, the rupee increased 6 paise to settle at 82.75 against the US dollar on Monday.However, persistent withdrawals of foreign funds and a strengthening of the US dollar on the international market dampened investor morale, according to forex dealers.
Stock Market Today: Tata Chemicals net profit falls
In its quarterly report for the months of April through June of the current fiscal year, Tata Chemicals, a member of the Tata Group, on August 7 reported a 9.67% fall in consolidated net profit at Rs 532 crore. According to a regulatory statement by Tata Chemicals, the company’s net profit for the same time in the prior fiscal was Rs 589 crore.
Comparing the current quarter to the same period last year, the company’s operating revenue increased by 5.58 percent to Rs 4,218 crore.
Godrej Consumer Products Net profit falls
Godrej Consumer Products announced a combined net profit of Rs 318.82 crore for the April-June quarter of FY24 on August 7. This is a decrease of 7.6 percent from Rs 345.12 crore in the same quarter of the prior financial year. According to a regulatory filing, the company’s total revenue was Rs 3,448.91 crore, an increase of 10.36 percent from Rs 3,124.97 crore in the same quarter last year.
Revenue and net profit fell short of projections. A survey of brokerages by CNBC revealed that net profit for Godrej Consumer Products was predicted to be Rs 428 crore and revenue to be Rs 3600 crore.
Disclaimer: (This piece of information is purely informational. It is important to note that offers, discounts, and/ or any other scheme/ information/ statistics must be personally verified by the readers from the respective sources. Readers are advised to invest or purchase solely at their own risk. DNP News Network Private Limited, website or the writer doesn’t validate the offers in any context. We will not be liable for any financial or other losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER