Stock Market Today: GIFT Nifty on the NSE IX increased by 124 points, or 0.56%, at 22,128.50 on Wednesday, indicating that Dalal Street was off to a good start. Tuesday’s 158-point gain and the formation of a hammer candlestick pattern on the daily charts by Nifty, the index’s positive momentum that may push it to new heights. Tuesday’s closing value of 83.05 for the rupee against the US dollar was somewhat lower than expected due to the US dollar’s strength versus other major currencies. Tuesday’s S&P 500 closing was marginally higher as investors examined a variety of large-cap U.S. company earnings and considered remarks made by Federal Reserve policy makers for hints regarding the organization’s first scheduled interest-rate decrease.
Stock Market Today: Stocks in focus
Berger Paints
Berger Paints recorded a 6.98% growth in consolidated revenue in the third quarter of the fiscal year 2024, coming in at Rs 2,881.83 crore as opposed to Rs 2,693.59 crore. Ebitda increased by 37.29% to Rs 480.04 crore from Rs 349.65 crore, and this resulted in a notable 367 basis point jump in margin from 12.98% to 16.65%. Significant improvement was seen in net profit, which increased by 49.2% to Rs 300.16 crore from Rs 201.17 crore during the same period the previous year.
Nykaa
For the quarter that ended in December, FSN E-commerce Ventures, the company behind the omnichannel beauty and fashion retailer Nykaa, almost doubled its consolidated net profit to Rs 16.2 crore.
Britannia Industries
Britannia Industries reported a consolidated year-over-year sales rise of 1.4% in the third quarter of the fiscal year 2024, hitting Rs 4,256.3 crore as opposed to Rs 4,196.8 crore. A small increase of 0.4% was also observed in the Ebitda, which came in at Rs 821.09 crore as opposed to Rs 817.58 crore. The margin however decreased, going from 19.5% to 19.3%. Nevertheless, there was a notable decrease in net profit, which fell by 40.4% to Rs 555.6 crore from Rs 932.4 crore during the same period the previous year.
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