Stock Market Today: GIFT Nifty on the NSE IX increased by 101.50 points, or 0.46 percent, to 21,967.50 on Tuesday, indicating that Dalal Street was off to a good start. On the daily chart, the Nifty closed Tuesday 385 points higher, forming a lengthy bull candle that suggests a short-term upward breach of the hurdle at 21750. Early on Tuesday, oil prices increased as worries about supply were exacerbated by the Middle East’s growing geopolitical unrest. By 0105 GMT, Brent crude futures had increased by 25 cents, or 0.3%, to $82.65 per barrel. At $77.09 per barrel, U.S. West Texas Intermediate crude was up 31 cents, or 0.4%.
Stock Market Today: Stocks in focus
Vodafone Idea
With an improvement in margin, the telecom operator’s net loss for the quarter ending in December FY24 was reported at Rs 6,986 crore, down from the previous quarter’s loss of Rs 8,738 crore. In comparison to the previous quarter, revenue for the quarter decreased by 0.4 percent on a sequential basis to Rs 10,673.1 crore. With a margin expansion of 80 basis points on a quarterly basis, or 40.8 percent for the quarter, EBITDA increased by 1.58 percent to Rs 4,350.4 crore.
ITC
Despite poor operating results, the leading FMCG to hotel company reported a 10.75% year-over-year increase in standalone net profit at Rs 5,572 crore for the quarter ended December FY24. This increase was made possible by greater other income and lower tax expenses. In comparison to the same period last year, standalone revenue from operations climbed by 1.6% to Rs 16,483.3 crore, mostly due to the FMCG and cigarette sectors. An interim dividend of Rs. 6.25 per share was issued by the firm.
Mahindra Logistics
Due to disappointing operating results, the logistics company reported a consolidated net loss of Rs 16.4 crore for the quarter that ended in December of FY24, compared to a profit of Rs 1.67 crore during the same period in the previous fiscal year. For the quarter, operating revenue reached Rs 1,397.2 crore, up 5% year over year. The Board of Directors’ Investment Committee has given the business permission to invest up to Rs 50 crore in MLL Express Services, a subsidiary.
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