Wed, Nov 6, 2024 5:06 PM
HZL OFS over-subscribed by institutional investors
A Flip by Shubhangi Gupta
Paint maker Kansai Nerolac Paints Ltd on Wednesday (November 6) reported a 30.7% year-on-year (YoY) slide in net profit at ₹122.8 crore for the second quarter that ended September 30 against ₹177.2 crore in the corresponding period in the last fiscal. The company's revenue from operations dipped 0.3% to ₹1,951.4 crore compared to ₹1,956.5 crore in the year-ago period.
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What a session! Continuing from where we left off after Tuesday's rebound, the market extended its rally on Wednesday, gaining over 1%, bolstered by positive global cues and significant developments in the US elections. BSE-listed companies gained nearly ₹8 lakh crore in market capitalisation in today's trade. All the sectoral indices closed in the green.
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Tata Steel outperformed expectations in its second-quarter results for FY24, reporting a net profit of ₹758 crore, sharply above the CNBC-TV18 poll estimate of ₹210 crore. This marks a strong comeback from a loss of ₹6,511 crore in the same quarter last year. Revenue stood at ₹53,904.7 crore, slightly exceeding the forecasted ₹53,425 crore but reflecting a 3.2% year-on-year.
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