Mon, Nov 25, 2024 8:43 AM
Stock Market Update: GIFT Nifty implies a 400 point gap-up for the index
A Flip by Avya Verma
The Nifty index opened with a gap up and remained above 24,100, but formed a DOJI candle, indicating indecisiveness in the market, with support at 24,200 and 23,950-24,000, and resistance at 24,350 and 24,500-550. The Nifty is likely to remain volatile or consolidate within the 24,000-24,500 range in the near term.
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Driven by weak Q2 earnings, the Nifty reported a 4% YoY PAT growth in 2QFY25, according to a report by Motilal Oswal, slightly above the expectations of 3%, marking its second consecutive quarter of single-digit PAT growth since the pandemic (June 2020). Corporate earnings showed signs of weakness, with adverse contributions from BPCL, JSW Steel, Coal India, IndusInd Bank, and Reliance Industries.
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Reported Consolidated quarterly numbers for Integra Engineering India are: Net Sales at Rs 41.49 crore in September 2024 up 19.34% from Rs. 34.77 crore in September 2023. Quarterly Net Profit at Rs. 5.31 crore in September 2024 up 53.49% from Rs. 3.46 crore in September 2023. EBITDA stands at Rs. 8.88 crore in September 2024 up 56.61% from Rs. 5.67 crore in September 2023.
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