Tue, Nov 5, 2024 4:20 PM
Nifty currently in “Sell on Rise” mode, when is trend likely to continue?
A Flip by Shubhangi Gupta
Oil India reported its Q2 results on Tuesday evening. What Happened: Oil India reported a massive 464% year-on-year increase in standalone net profit to ₹1,834.07 crore. The company’s profit in the same quarter last year was affected by a one-time exceptional loss of ₹2,362 crore. The company’s revenue dipped 6.7% from the previous year to ₹5,518.95 crore.
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The joint venture (JV) between Rail Vikas Nigam Limited (RVNL) and Rithwik Projects Pvt. Ltd. (RPPL) has been announced as the lowest bidder for a significant rail infrastructure project in Karnataka. What Happened: RVNL disclosed on November 5, 2024, that the JV has emerged as the lowest bidder for the “Package C4A: Construction of Nine Stations” project.
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GAIL (India) Ltd on November 5 reported 10 percent decline in consolidated net profit at Rs 2,690 crore in the second quarter of financial year 2024-25 from the last year. Consolidated net profit of the country’s largest gas distributer was Rs 2,442 crore in the same period last year. However, consolidated net profit declined 35 percent from Rs 4,114 crore in the quarter ended June 30.
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