Markets are trading in the red, with the NIFTY50 below 18,900 as of 11:45 am. Here are the top stories for the day!
Top gainer: Axis Bank: 961 ▲6 (+0.6%)
Top loser: M&M: 1,523 ▼ 45 (-2.9%)
Tech Mahindra plunges on profit decline
Shares of the IT consulting and services firm fell by 4.9% intraday after the company reported a 61% year-on-year (YoY) drop in its net profit to ₹494 crore in Q2 FY24. This was due to slow demand in the telecom and communications segment and delays in deal cycles.
Jubilant Foodworks slips after weak Q2 numbers
Shares of the fast-food chain operator fell by 6.4% intraday after the company reported a 26% YoY fall in its net profit at ₹721 crore in the September quarter. However, the company opened 90 new stores in this quarter.
Zen Tech rises on new order win
Shares of the defence training solutions provider rose by 1.7% intraday. This came after the company announced that it has received an order worth ₹100 crore from the Ministry of Defence for its advanced tank training system.
Gulf Oil gains after healthy Q2 results
Shares of the lubricants maker rose by 5% intraday. This came after the company reported a 41% YoY surge in its net profit at ₹73.63 crore in the September quarter. Its revenue from operations also grew 11% YoY to ₹802.3 crore in this quarter.