Stock Market Today: GIFT Nifty on the NSE IX increased by 87 points, or 0.41 percent, at 21,277 on Wednesday, indicating that Dalal Street was off to a good start. On the daily chart, the Nifty finished the day 333 points lower, forming a long bear candle. Analysts cautioned that further weakness might emerge from this point on, forming a new lower bottom of the series. As investors processed a mixed bag of early quarterly results and anticipated a barrage of fresh reports from Tesla and other firms later this week, the S&P 500 surged to a new high finish on Tuesday.
Stock Market Today: Stocks in focus
L&T Finance Holdings
For the October through December fiscal year of FY24, the non-banking finance company posted a combined net profit of Rs 640 crore, up 41% over the same period the previous year. For the quarter, net interest income was Rs 1,833 crore, an increase of 8% year over year. With effect from January 24, the business has named Sudipta Roy as its Managing Director and Chief Executive Officer for a period of five years.
Lupin
The US Food and Drug Administration (US FDA) has given the pharmaceutical company provisional clearance to sell its shortened new drug application for 2.5 mg, 10 mg, 15 mg, and 20 mg USP Rivaroxaban tablets in the US. According to IQVIA MAT November 2023, the US market for rivaroxaban tablets—a generic version of Xarelto tablets made by Janssen Pharmaceuticals, Inc.—was expected to generate $8,249 million in sales annually. The medication rivaroxaban is used to stop blood clots from developing in cases where there is an irregular heartbeat.
Mahindra & Mahindra Financial Services
The board has given the non-banking financial business permission to privately place secured NCDs valued at Rs 3,000 crore. With a face value of Rs 1 lakh per debenture, the offer had a base issue size of up to Rs 500 crore and a green shoe of up to Rs 2,500 crore.
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