Page 4 - Devarsh Vakil News Today

Infosys contributed the most to the index decline, while Hero MotoCorp had the largest percentage drop, falling by 2.1 per cent. Nifty IT index ended down 1.47 per cent at 30,604 on Friday.

Indian equity benchmarks declined for a fourth straight week amid weak domestic macroeconomic data.

New Delhi, Aug 18 (IANS) Nifty posted its fourth straight weekly loss on Friday, as it fell for the second consecutive day, dropping 55.10 points, or 0.28 per cent, to settle at 19,310.

Robust growth bolstered by private capex over the next few years could push the profit cycle to historical peak and beyond, but near-term may remain volatile

From the Sensex pack, Tata Motors opened over 3% higher after the firm reported a higher-than-expected consolidated net profit of Rs 3,203 crore in Q1 FY24. Meanwhile, L&T, Power Grid, Infosys, Wipro, JSW Steel, and HUL also opened with gains.

Reliance Industries shares: The stock was trading at Rs 2,612 on NSE at 10.09 am, up 1.24 per cent. This was after the scrip settled at Rs 2,580 (ex-financials) as it turned ex-date for demerger.

JFS' derived price was based on the difference between RIL's previous close of Rs 2,841.85 and the price discovered at Rs 2,580 in the pre-open session.

On the earnings front, Reliance Strategic or Jio Financial reported a net profit after tax of Rs 145 crore for April-June (Q1 FY23) based on revenue of Rs 215 crore.

Jio Financial Services: The demerged entity of Reliance Industries said its consolidated net profit after tax for the first quarter stood at Rs 331.92 crore on a total income of Rs 414.13 crore.

ITC, Kotak Mahindra Bank, ICICI Bank, Maruti, Bharti Airtel, State Bank of India, Sun Pharmaceutical Industries, Axis Bank, Reliance Industries, Hindustan Unilever and JSW Steel were the biggest gainers