Stock Market Today: Eicher Motors recorded a combined net profit of Rs 905.58 crore for the March quarter, up 48.42 percent from Rs 610.14 crore in the same period previous year, on May 11. According to an exchange report, revenue from operations was Rs 3,804.32 crore, up 19.13 percent from Rs 3,193.32 crore in the previous quarter.
The Board has also approved a cash outlay of Rs 1,000 crores for capex for the fiscal year 2023-24, which includes investments in EV production facilities, product research, and new product development under the Internal Combustion Engine portfolio.
FIIs net buyers, while DIIs net sellers
In futures trading, the Dollar index was 0.57 percent higher at 102.06, while the value of one dollar was around Rs 82.14. On May 11, foreign institutional investors (FII) bought shares worth Rs 837.21 crore, while domestic institutional investors (DII) sold shares for Rs 200.09 crore, according to preliminary data from the National Stock Exchange.
Stock Market Today: Gold price retreat
Gold fell on Thursday as the rival safe-haven dollar climbed, outweighing bullion’s support from persisting economic worries, while traders processed the effect of dismal data on the interest rate outlook. Spot gold was last down 0.75 percent to $2,014.3021 per ounce, while US gold futures were down 0.8 percent to $2,020.50.
Dow, S&P 500 fall with Disney; PacWest leads regional banks lower
The Dow and S&P 500 finished lower on Thursday, brought down by Walt Disney Company, which lost subscribers, and PacWest, which led drops among regional banks after reporting a reduction in deposits. Alphabet Inc. surged 4.3 percent, lifting the Nasdaq, a day after Google rolled out new artificial intelligence tools to compete with Microsoft Corp.Microsoft shares fell 0.7 percent and were among the biggest drags on the S&P 500 and Nasdaq.
PacWest Bancorp shares plunged 22.7 percent after the company reported a 9.5 percent loss in deposits last week and that it had posted extra collateral to the US Federal Reserve to increase liquidity.
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