Good afternoon
Markets are trading in the green, with the NIFTY50 trading above 21,900 as of 12:45 pm. Here are the top stories for the day!
Top gainer: Tata Motors: 937 ▲ 58 (+6.7%)
Top loser: UPL: 487 ▼ 46 (-8.6%)
UPL tumble 8% on weak Q3 results
Shares of the agrochemical maker are down 8% today. This comes after the company posted a loss of ₹1,217 crore in Q3FY24 – compared to a net profit of ₹1,087 crore in Q3FY23. The destocking of high-cost inventory and higher rebates to support channel partners adversely affected the profitability.
VA Tech Wabag at 52-week high
Shares of the water treatment company are up more than 5% today and are trading at their 52-week high. This comes after the company bagged an order worth $33 million for an industrial waste water treatment plant in Saudi Arabia. The company will be responsible for engineering and procurement related work.
Tata Motors hits record high on sturdy profit
Shares of Tata Motors hit a record high on Monday, rising as much as 7.2%, after it reported a more than two-fold increase in third-quarter profit, driven by strong sales in its British luxury car unit, Jaguar Land Rover (JLR).
Paytm falls 50% in three days
Shares of Paytm hit a 10% lower circuit, falling 50% in the last three trading sessions. This fall comes amid reports that suggested the RBI was considering cancelling Paytm Payment Bank’s licence.