Stock Market Today: GIFT Nifty indicates a bullish start; Lupin, Tata Consumer in focus

Stock Market Today: The GIFT Nifty on the NSE IX is up by around 74.50 points and thus reached at 22,451. It is indicating that Dalal Street got off to a good start today. The Nifty ended the day 32 points higher, breaking above the 20-day exponential moving average (20-DEMA), which was sitting at 22,309. A tiny negative candle that formed throughout the day's trading suggests that the market will continue to move in a range. The S&P BSE Sensex finished the day 0.12% higher at 73,738 while the NSE Nifty 50 finished 0.14% higher at 22,368. Both indices have gained about 1.7% apiece during the past three sessions.

Stock Market Today: Stocks in focus

Lupin

The US FDA has sent the firm an Establishment Inspection Report (EIR) for its Aurangabad production site, the company said on Tuesday. The drug regulatory body designated the facility as Voluntary Action Indicated (VAI) after the inspection, which took place between March 6 and March 15. Lupin said that a meeting of the board of directors is planned for Monday, May 6, 2024, in a separate regulatory filing.

Tata Consumer Products

Operating revenue for the company rose by 8.5% during the quarter, from Rs 3,619 crore in Q4FY23 to Rs 3,927 crore in A4FY24. Operationally, the business's EBITDA for the March quarter was Rs 629.6 crore, up 23% from the Rs 511.7 crore recorded during the corresponding period in the previous year. From 14% to 16% a year ago, it experienced a 160 basis point improvement in its EBIT margin. Strong operational performance and one-time tax advantages during the quarter helped the group's net profit before exceptional items to rise by 46% to Rs 427 crore.

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