Good afternoon,
Markets are trading in the red, with the NIFTY50 below the 19,700 level as of 2:00 pm. Here are the top stories.
Top gainer: LTI Mindtree: 5,442 ▲286 (+5.5%)
Top loser: Wipro: 395 ▼ 12 (-2.9%)
Wipro falls after Q2 results
Shares of the IT consulting firm fell by 4.2% intraday after the company’s net profit declined 7.5% quarter-on-quarter (QoQ) to ₹2,667 crore in Q2 FY24. Additionally, the company has approved the merger of its five subsidiaries to consolidate its business operations.
Persistent Systems gains post Q2 numbers
Shares of the digital engineering firm rose by 3% intraday. This came after the company reported a 16% year-on-year (YoY) surge in net profit to ₹263.2 crore in Q2 FY24. The company’s total contract value (TCV) stands at $475 million, up 25% from the previous quarter.
Shakti Pumps hits 52-week high
Shares of the submersible pumps manufacturer rose by 21% intraday after the company announced that it has received an order worth ₹1,603 crore from Maharashtra State Electricity Distribution Company Limited for 50,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS).
Shoppers Stop plunges post Q2 earnings
Shares of the fashion retailer fell by 5.7% intraday. This came after the company registered a 83.3% year-on-year (YoY) drop in net profit to ₹2.7 crore in Q2 FY24. However, the company has opened 11 new stores during the quarter.