Top gainer: Asian Paints 3,085 ▲ 79 (+2.6%)
Top loser: Tata Consumer 1,179 ▼ 15 (-1.3%)
Vedanta receives approval from 75% secured creditors for demerger scheme filing
Following the approval, Vedanta can seek clearances from the stock exchanges and file the scheme for the proposed demerger with the National Company Law Tribunal (NCLT). The company stated that the demerger will create focused entities that align with the country’s goals for critical minerals, energy security, renewable, and technology sectors. Further, the demerger is also in line with the company’s goals to support the Atma Nirbhar Bharat initiative while simplifying the company’s corporate structure. Read more
Tata Consumer Products shares decline 1.8% after Q1 net profit falls
Tata Consumer Products shares were trading lower on Wednesday after the company posted its earnings for the first quarter of the financial year 2024-25 (Q1 FY25). The stock was down 1.8% at ₹1,173 apiece on the National Stock Exchange (NSE) in the early trade. It shed 1.5% to ₹1,175.1 on the BSE. Read more
Quess Corp shares jump 5% after PAT rises 117% in Q1FY25
Quess Corp shares jumped over 5% to ₹752.95, hitting a 52-week high on July 30 after the company reported a 117.13% year-on-year rise in consolidated net profit for the quarter ended June 2024. The net sales grew 8.76% to ₹5,003.11 crore in Q1FY25 from ₹4,600.21 crore in the year-ago period. Net profit stood at ₹103.81 crore against ₹47.81 crore in the June 2023 quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) 22.78% to ₹193.93 crore from ₹157.95 crore in the corresponding quarter of the previous fiscal. Read more