Markets are trading in the red as of 12:40 pm, with the NIFTY50 trading below the 19,400 level. Here are the top stories of the hour. Let us know what you think in the comments below!
Top gainer: ONGC: 179 ▲ 2 (+1.1%)
Top loser: Adani Enterprises: 2,461 ▼ 77 (-3.0%)
Adani Ports slips as auditor resigns
Adani Ports shares are down by 2.3% after Deloitte Haskins and Sells resigned as the statutory auditor of the company, citing differences of opinion. The port business arm of Adani Group has appointed MSKA & Associates as its new auditor. Meanwhile, other Adani Group stocks also declined in the range of 2-5%.
Titan Eyecare enters audiology segment
Titan Eyecare, which specialises in eyewear and optometry, has forayed into the audiology segment. In partnership with WS Audiology, Titan Eyecare will sell hearing aids and offer diagnostic tests aimed at assessing hearing capabilities. Meanwhile, Titan’s shares are down by 0.3%.
Nykaa down after Q1 results
Shares of FSN E-commerce ventures, which operates beauty and fashion retailer Nykaa, are down by 6.3%. On Friday, Nykaa reported an 8% YoY (year-on-year) rise in net profit to ₹5.4 crore in Q1FY24. However, the company’s net profit attributed to the equity shareholders declined 27% at ₹3.3 crore, compared to ₹4.5 crore in the year-ago period. Revenue stood at ₹1,422 crore, rising 24% YoY compared to ₹1,148 crore.
Sterling and Wilson bags new order
Sterling and Wilson Renewable Energy bagged a new order worth ₹1,130 crore for setting up a 600 MWac (megawatt alternating current) solar PV (photovoltaic) project at Khavda from Gujarat Industries Power Company. The scope of work also includes a three-year operation and maintenance contract. The company’s shares are up by 1.6%.