Stock Market Today: Dalal Street appeared set for a subdued start today as the GIFT Nifty on the NSE IX dropped by 14.5 points and declined to 23,025. The domestic market ended the week flat as investors opted to lock in profits at high levels, despite Friday’s record highs. During intraday trading, the Nifty50 reached an all-time high of 23,026 while the S&P BSE Sensex reached a record height of 75,636. With gains mainly from financials and metal sectors, Indian blue-chip indices closed flat on Friday, capping their best week since early February. While the NSE Nifty50 index ended above the 22,950 threshold, the S&P BSE Sensex finished 0.01% lower at 75,410.
Stock Market Today: Stocks in focus
NTPC
Formerly known as National Thermal Power Corporation, NTPC Limited is a central Public Sector Undertaking (PSU) in India that generates energy and performs other functions. It is owned by the Ministry of Power and the Government of India. The company announced a 7.6% growth in revenue to Rs 47,622 crore and a 33% YoY increase in Q4 net profit to Rs 6,490 crore. When compared to the same period last year, the company’s gross power generation increased by 4.15% to 93.387 billion units (BU) in Q4 as a result of rising power demand brought on by the nation’s high temperatures.
Divi’s Laboratories
With its headquarters located in Hyderabad, Divi’s Laboratories Limited is a worldwide pharmaceutical firm based in India that produces intermediates and active pharmaceutical ingredients (APIs). The business produces intermediates and generic APIs on demand. The company recorded Q4 net profit of Rs 538 crore, up 67.6% YoY, and Q4 revenue of Rs 2,303 crore, up 18%. EBITDA for the business increased by 50.1% to Rs 731 crore.
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