Stocks in News Today, November 7: Bakery foods company Britannia Industries Ltd has reported the highest-ever quarterly revenue. Price hikes and cost efficiency helped the company in improving its margins.
Stocks in News Today, November 7: Indian share markets are set to open in green on Monday, tracking strong global cues. SGX Nifty – an early barometer of India’s benchmark Nifty50 – gained 98 points, or 0.54 per cent, to trade at 18,301 in the early trade. Other Asian markets too opened higher today. Hong Kong’s Hang Seng index surged 304 points, 1.88 per cent, while Japan’s Nikkei 225 gained over 367 points, 1.45 per cent. Similarly, South Korea’s Kospi was over 15 points, 0.67 per cent.
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Earlier on Friday, US stocks closed higher to snap a four-session losing streak. The Sensex and Nifty also eked out modest gains on Friday after a two-session sliding streak, propped up by firm Asian markets and buying from foreign institutional investors. The 30-share BSE Sensex closed at 113.95 points or 0.19 per cent higher at 60,950.36 and the broader NSE Nifty rose 64.45 points or 0.36 per cent to 18,117.15.
Stocks in News Today, November 7:
SBI: State Bank of India, the country’s largest lender has posted a surge of 74 per cent in its net profit to Rs 13,264 crore, against Rs 7,627 crore in the year-ago period. In a statement, SBI said its net interest income grew 12.8 per cent to Rs 35,183 crore. Home loan portfolio grew 14 per cent to Rs 5.94 lakh crore and accounted for more than half its retail portfolio of Rs 10.7 lakh crore. It also said corporate loans surged 21 per cent year on year to Rs 9.2 lakh crore.
Marico: FMCG firm Marico Ltd reported a decline of 2.84 per cent in its consolidated net profit to Rs 307 crore for the second quarter ended September, mainly due to losses on translation of foreign currency receivables and higher effective tax rate.
The company had posted a net profit of Rs 316 crore in the July-September period a year ago, according to a BSE filing.
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Britannia: Bakery foods company Britannia Industries Ltd on Friday reported a 28.47 per cent increase in consolidated net profit at Rs 490.58 crore for the second quarter ended September 30, 2022, helped by volume growth. The company had posted a net profit of Rs 381.84 crore in the July-September quarter a year ago, Britannia Industries said in a BSE filing.
Cipla: Drug major Cipla’s consolidated net profit increased 12 per cent to Rs 797 crore for the second quarter ended September 30 on the back of robust sales across domestic and the US market. The Mumbai-based drug maker had reported a consolidated net profit of Rs 709 crore in the July-September period of the previous fiscal. Its total revenue from operations rose to Rs 5,829 crore for the September quarter from Rs 5,520 crore in the year-ago period, Cipla said in a regulatory filing.
Kaveri Seed: Kaveri Seeds has announced share buyback programme. The agricultural products company in an exchange filing informed that the board of directors has approved Rs 125.65 crore share buyback via the open market route at maximum buyback price not exceeding Rs 700 per share.
With agency inputs
