Fri, Nov 8, 2024 3:21 PM
SBI Q2 results: Net profit rises 28% to Rs 18,331 crore
A Flip by Shubhangi Gupta
Shares of 📌Amara Raja Energy and 📌Exide Industries have been on a consistent downward trajectory over the past five months. Their recent financial results for the September quarter have failed to boost investor sentiment. At current levels, Amara Raja Energy's stock is trading at a 27% decline from its recent peak of ₹1,775. Exide Industries' shares are down 30% from their high of ₹620.
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The INR is likely to see further depreciation against the USD in the near term owing to Donald Trump’s presidential win. This has fueled an expectation that the dollar index will remain high, currency experts said. The rupee remains volatile, evident from the dip in India's forex reserves in the last four weeks. Per RBI’s data, forex reserves dipped $3.463 bn during the week ending October 25.
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DCX Systems secures a Rs 460.30 crore order from Lockheed Martin USA for electrical assemblies, building on a prior Rs 16.53 crore deal, and strengthening its position with top global defence contractors. The company's order book stands at Rs 1,937 crore, with a growing pipeline, as India's defence sector is expected to reach $70 billion by 2030.
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