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HomeCURRENT AFFAIRSBUSINESSStock Market Today: GIFT Nifty indicates a bullish start; Tata Power profit...

Stock Market Today: GIFT Nifty indicates a bullish start; Tata Power profit increases 8.8 percent in Q2

On Thursday, the GIFT Nifty on the NSE IX gained 13.5 points, or 0.07 percent, to 19,514.5, suggesting that Dalal Street was off to a strong start.

Stock Market Today: GIFT Nifty on the NSE IX increased by 13.5 points, or 0.07 percent, at 19,514.5 on Thursday, indicating that Dalal Street was off to a good start. On the daily chart, the Nifty finished the day 37 points higher, forming a small-bodied candle with a slight upper and lower shadow. Again, this Doji-style candle is implying indecision. Today, a number of businesses, including Adani Ports, Apollo Hospital, Samvardhana Motherson, ZED, and many more, will release their second quarter earnings.

Rupee lower; Tokyo stocks opened higher

The rupee tracked a strong US currency overseas on Wednesday, consolidating in a narrow range and closing 3 paise down at 83.30 against the US dollar. Following Wall Street rallies in a few high-tech sectors, Tokyo markets opened higher on Thursday. Investors were also keeping a watch on Treasury yields that were declining. Early trading saw gains of 0.65 percent, or 208.67 points, for the benchmark Nikkei 225 index at 32,375.15, and 0.46 percent, or 10.56 points, for the larger Topix index at 2,316.51.

Stock Market Today: Tata Power profit increases 8.8 percent of Q2

For the second quarter of FY 24, Tata Power Company Limited reported a consolidated net profit of Rs 1,017.41 crore on November 8. This is an 8.79 percent year-over-year increase over the consolidated profit of Rs 935.18 crore in the previous year. The company’s core activities of distribution, transmission, and generation generated more income, which drove the profit. Compared to the same period previous year, when the Tata Group company’s consolidated sales was Rs 14,163 crore, it climbed by 9% to Rs 15,442 crore.

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