Stock Market Today: The GIFT Nifty is up by 97 points and reached at 24,462 levels, indicating that the benchmarks may reach new all-time highs. Due to positive global indications, India’s stock markets could open higher for the second day in a row on Thursday. As of right now, the Nifty IT Index is trading at 37,314.35. With a clear range of 37,525 to 37,050, the index looks to be range-bound in the immediate future.
Stock Market Today: Stocks in focus
Vedanta
The primary businesses of Mumbai-based Vedanta Limited, an Indian global mining corporation, are iron ore, gold, and aluminium mines. Better operational performance at the company’s smelters resulted in a 3% YoY increase in cast metal aluminium production of 5.96 lakh tonnes, while increased capacity at the Lanjigarh refinery drove a 36% YoY increase in alumina production of 5.39 lakh tonnes. The quarter’s production of oil and gas decreased 17% year over year.
Bajaj Finance
The non-banking financial enterprise Bajaj Finance Limited (BFL) is based in Pune, India. With 83.64 million customers, it is one of the top non-banking financial organisations (NBFCs) in India. Assets under management (AUM) for the non-banking financing organisation were registered at Rs 3.54 lakh crore for Q1FY25, up 31% from the same period the previous year. With Rs 62,750 crore, the deposits book grew by 26% over Q1FY24. As of June 2024, the net cash surplus was Rs 16,200 crore. 10.97 million new loans were booked in Q1FY25, an increase of 10% YoY.
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