In today's (October 28) News Wrap, we have: Indian benchmark indices made a strong comeback on Monday; NTPC Green Energy IPO update, Tata Technologies and Suzlon Q2 results, census news and Tata-Airbus C-295 facility. Here are details:
Indian benchmark indices made a strong comeback on Monday, October 28. The Nifty 50 closed the session with a gain of 0.65% at 24,339. During intraday trading, the index came close to the 24,500 mark, falling just 8 points short. The S&P BSE Sensex wrapped up the session with a gain of 0.6%, ending above the 80,000 level at 80,005. The index during the day, reached a high of 80,539. Read more here
NTPC Green Energy, a wholly owned subsidiary of NTPC, has been issued final observation by the Securities and Exchange Board of India (SEBI), allowing them to raise ₹10,000 crore through an initial public offering (IPO). The company submitted its IPO documents to SEBI on September 18, 2024. Read more here
Tata Technologies announced on Monday a 2 percent decrease in its consolidated net profit for the quarter ending September 30, 2024, amounting to ₹157 crore, compared to ₹160 crore in the same quarter last year. Revenue from operations in the reporting quarter rose by 2 per cent year-on-year to ₹1,296 crore, compared to ₹1,269 crore in the same quarter last year. Read more here
Suzlon Energy Limited announced its July to September quarter results on Monday, October 28. The company recorded a 96 per cent surge in net profits to ₹200.20 crore in the second quarter of the financial year 2024-25, compared to ₹102.29 crore in the same quarter the previous year, according to the company's BSE filing. Read more here
Sun Pharmaceutical Industries Ltd on Monday reported an 28% year-on-year rise in its consolidated net profit for the fiscal's second quarter ended September (Q2FY24) to ₹3,040.16 crore. The company had reported a profit of ₹23,755.1 crore in the year-ago period. Sequentially, the consolidated net profit was up 7.2%. Read more here
LIC Housing Finance reported an 11.25 per cent year-on-year (YoY) rise in consolidated net profit to ₹1,327.71 crore for the September quarter of the current financial year (Q2FY25). For the same quarter last year, the company earned a profit of ₹1,193.48 crore. Read more here
Indian FMCG stocks have emerged as the worst performers in October so far, primarily due to a combination of factors that have negatively impacted investor sentiment. Nifty FMCG index has recorded a notable decline of 9.6% in October so far, representing the largest monthly drop in the last six years. At current levels, seven constituents of the index are trading 15% to 22% below their recent 52-week highs, with Tata Consumer Products leading this downturn. Read more here
The central government is likely to begin the population census exercise in 2025 and conclude it in a year after a four-year-long delay, reported India Today, citing sources. After the completion of the Census of India, the delimitation exercise of Lok Sabha seats will begin, which may be over by 2028. Read more here
Prime Minister Narendra Modi and Spanish PM Pedro Sanchez inaugurated the Tata Advanced System (TASL)-Airbus facility to manufacture C-295 military aircraft in India on October 28. The TASL-Airbus facility is the first such private sector final assembly line for military aircraft in India, PTI reported. Here's all you need to know about the aircraft.
