Stock Market Today: The GIFT Nifty on the NSE IX fell by 5 points and declined upto 22,585, indicating that Dalal Street will likely have a quiet start. Despite erratic trading on Monday, Indian shares finished the day barely changed. State-owned banking falls offset the rise in IT stocks, which was driven by growing expectations of US rate reduction. The NSE Nifty50 index ended below the 22,450 mark, although the S&P BSE Sensex managed a meagre 0.02% gain, closing at 73,895. Asahi India Glass, Ujjivan Financial Services, Zydus Lifesciences, SBI, and SW Solar were the five stocks that were suggested.
Stock Market Today: Stocks in focus
Lupin
Based in Mumbai, Lupin Limited is a multinational pharmaceutical firm from India. In terms of worldwide sales, it is among the biggest generic drug manufacturers. The company’s primary areas of focus are diabetes, asthma, cardiovascular, anti-infectives, paediatrics, and anti-tuberculosis. Mumbai-based Lupin has released strong financial results for the fourth quarter of FY24. The company’s overall net profit increased by 52% year over year to Rs 359.43 crore. Additionally, revenue increased significantly, by 13% to Rs 4,895.11 crore. Furthermore, Lupin’s EBITDA increased by 66% to Rs 1,026.1 crore, improving the margin to 14.2%.
Godrej Consumer Products
An Indian multinational consumer goods firm with its headquarters in Mumbai is called Godrej Consumer Products Limited (GCPL). Shampoos, conditioners, body wash, and liquid detergents are among the goods offered by GCPL. In sharp contrast to the net profit of Rs 452 crore earlier disclosed, the company declared a consolidated net loss of Rs 1,893 crore for the March quarter. The results for this quarter reflect a Rs 2,376 crore one-time exceptional loss. Notwithstanding this loss, a regulatory filing revealed that the company’s overall sales increased by 6% to Rs 3,385.61 crore from Rs 3,200.16 crore the previous year.
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