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HomeCURRENT AFFAIRSBUSINESSStock Market Today: GIFT Nifty indicates a flat start; TVS Motor Q2...

Stock Market Today: GIFT Nifty indicates a flat start; TVS Motor Q2 Net profit rises 32%

After dropping 6 points to 19,219.50 on the NSE IX, the GIFT Nifty suggested Dalal Street would probably enjoy a calm start to the week.

Stock Market Today: GIFT Nifty on the NSE IX down 6 points to 19,219.50, indicating that Dalal Street would likely have a quiet start to the week. On Monday, the Nifty ended 94 points higher over the 19,140 mark and produced a reasonable bullish candle with a long lower shadow on the daily chart. Today, a number of businesses, including Bharti Airtel, L&T, Tata Consumer, Adani Gas, and many more, will release their second quarter earnings.

Rupee closed on a lower note

Monday’s flat note trading and 1 paisa decline in value relative to the US dollar was caused by ongoing withdrawals of foreign funds and the strength of the US dollar in international commerce, which negatively impacted investor mood. Ahead of meetings of the world’s central banks and with rising Middle East tensions, oil prices increased in early Asian trading on Tuesday.By 0001 GMT, Brent crude futures had increased 46 cents, or 0.53%, to $87.91 per barrel, while U.S. West Texas Intermediate crude had increased 33 cents, or 0.4%, to $83.64 per barrel.

Stock Market Today: TVS Motor Q2 Net profit rises 32%

Due to increased sales, TVS Motor Company on October 30 announced a standalone net profit of Rs 537 crore for the quarter that ended September 30, 2024, an increase of 32%. In the same period last year, the automaker declared a net profit of Rs 407 crore. Compared to the same quarter last fiscal year, when revenue from operations was Rs 7,219.18 crore, it climbed by 13% to Rs 8,144.61 crore in the current quarter. Operating Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the Chennai-based two-wheeler manufacturing increased by 22% to Rs 900 crore in the second quarter of 2023–24 from Rs 737 crore in the same period the previous year.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

Also Read: OPPO F21s Pro VS OPPO F21 PRO: Specifications, features and price compared to facilitate decision making

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