News Overview

Here are some of the stocks that may see significant price movement today: Ramco Cements, Jupiter Wagons, Motilal Oswal, etc.

The BSE midcap and smallcap indices also experienced slight losses, reflecting the cautious market sentiment amid the broader volatility.

The company is permitted by the SEBI observation letter to conduct its initial public offering (IPO) during the upcoming year.

Cooking tools and prepared foods also continued to expand, with innovations accounting for almost 30% of the growth during the quarter.

This strategic alliance aims to significantly expand the public EV charging network, providing convenient charging solutions for both intercity and intracity travel.

Key selling shareholders include promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma, each selling 21.32 lakh equity shares.

The Indian government announced on June 28, 2024, that interest rates on small savings schemes will remain unchanged for July-September 2024. This marks the second consecutive quarter without an increase, following six quarters of rising rates. Small savings schemes, such as the Public Provident Fund and Sukanya Samriddhi Account, provide higher interest rates and tax benefits, attracting citizens to save regularly. These schemes are crucial for financing the government’s fiscal deficit. The interest rates are linked to market yields on government securities but often diverge from the formula. Future rate changes depend on market yields and global bond index inclusions.

EBITDA for the quarter jumped to 10.0%, amounting to ₹821 crore, up from 4.4% or ₹320 crore in Q1 FY'23.

On the Sensex, Tata Motors, L&T, Sun Pharma, and Kotak Mahindra were the top gainers.

L&T received a ‘BBB+’ credit rating from global agencies S&P and Fitch, two notches above the sovereign rating, underscoring its strong credit quality.