News Overview

Following three days of gains, investors may opt for profit booking, leading to a pullback.

At 2:30 pm on the BSE, Eicher Motor shares were down 1.61% at ₹3,954.85 after the monthly business update.

Leading the gains on the Nifty were Tata Steel, JSW Steel, Adani Ports, Shriram Finance, and Divis Labs. Conversely, Eicher Motors, Titan Company, Bajaj Auto, LTIMindtree, and Nestle were among the top losers.

According to the corporation, the value-added segment's contribution rose from 56% in FY23 to 58% in FY24. It stated that APL Apollo's de-commoditization strategy is still in place.

Tarun Garg, COO of Hyundai Motor India, attributed the sales performance to the diverse product lineup's great acceptance.

For the fiscal year 2023-24, Toyota Kirloskar Motor reported record-breaking wholesales of 2,63,512 units, reflecting a remarkable 48% increase from 1,77,683 units in 2022-23.

In recent times, many stocks have surged despite promoters paring their stakes.

For the quarter ended December 2023, Globus Spirit reported a 64.8% year-on-year surge in net profit to ₹44.4 Crore, accompanied by a 16.1% YoY increase in net sales to ₹687.5 Crore.

Financially, the company has demonstrated growth, with a net profit of Rs 18.75 crore in FY23, up from Rs 17.57 crore in the previous fiscal year. Revenue also witnessed a notable increase, rising from Rs 263.3 crore in FY22 to Rs 300.3 crore.

The automaker reported that IT saw a year-over-year increase in sales of about 14% in FY 2023–2024 compared to FY 2022–2023.