Live Stock Market for Wednesday, July 24, 2024: Wednesday could witness a negative to flat start for the benchmarks Sensex and Nifty as investors adjust to the post-Budget surprises.
A muted opening is also suggested by the GIFT Nifty futures, which quoted 46 points behind Nifty50 futures at 24,416 levels.
Asia-Pacific markets on Wednesday showed conflicting signs, with the Nikkei 225, Japan’s main benchmark, trading flat or slightly down by 0.08 percent, and the Topix index, which is based on broader measures, plunging by 0.26 percent.
The Kosdaq, which focusses on small-cap companies, increased by 0.86 percent, whereas the Kospi index in South Korea decreased by 0.12 percent.
The S&P/ASX 200 index in Australia was pathetic, declining by just 0.09 percent. The Hang Seng index in Hong Kong also saw positive trading and increased by 0.12%.
Overnight, as investors evaluated the earnings of tech companies, all three major US indices experienced a decline in tech equities. The Nasdaq Composite increased by 0.6%, while the S&P 500 declined by 0.1%. In the meantime, there was a 0.14 percent increase in the Dow Jones Industrial Average.
stocks to keep an eye on
Bajaj Finance: It revealed a Rs 3,912 crore net profit, which was consistent with the poll’s Rs 3,973.7 crore estimate. Net Interest Income (NII) was Rs 8,365 crore, which was also in line with the Rs 8,445.1 crore forecast. Profit and NII climbed by 13.8% and 24.5%, respectively, year over year. Quarter over quarter, Gross Non-Performing Assets (NPA) climbed to 0.86 percent from 0.85 percent, while Net NPA increased to 0.38 percent from 0.37 percent.
Hindustan Unilever reported earnings of Rs 15,339 crore, which was more than the Rs 15,100 crore forecast. The amount of earnings before interest, taxes, depreciation, and amortisation, or Ebitda, exceeded the projected amount by Rs 3,540 crore to Rs 3,606 crore. Revenue from home care increased by 4.6%, above the estimated growth range of 2% to 3%.
Tata Consumer Products: The business revealed the specifics of its rights offering, which aims to raise up to Rs 3,000 crore. The price per share for the rights issue was fixed at Rs 818. As of July 27, 2024, the record date, shareholders will get one rights share for every 26 shares owned. August 5 is when the rights issue opens, and it closes on August 19, 2024.
United Spirits: The business reported a 1.7% increase in net profit to Rs 485 crore from the previous year. The amount of revenue increased by 3.5% to Rs 2,761 crore. EBITDA was steady at Rs 713 crore, with a 25.8% EBITDA margin as opposed to 26.7% the previous year. jot down a 150-character meta description.