Stock market update: Sensex, Nifty register sharp decline
There has been a big decline in the stock market today i.e. on Wednesday (August 2). The Sensex fell 676 points to close at 65,782. At the same time, Nifty also declined by 207 points. It closed at the level of 19,526. Of the 30 Sensex stocks, 26 declined and only 4 advanced.
All sectoral indices closed in the red with PSU Bank and Metal falling 2% each. Auto, Bank, Realty, Media and Oil & Gas also declined by 1% each.
Adani Wilmar Q1FY24 results released
Adani Wilmar has released the results for the first quarter of Q1FY24 i.e. Financial Year 2024 on Wednesday (August 2). The company has incurred a net loss of Rs 79 crore in the April-June quarter. A year ago, in Q1FY23, the company had a profit of Rs 194 crore.
Along with this, the company’s revenue for the quarter fell 12% year-on-year to Rs 12,928 crore, which is the effect of a sharp fall in edible oil prices. The revenue in the same period of the last financial year was Rs 14,724 crore.
Indigo profit of Rs 3,090 crore
Indigo Airline has also released its Q1FY24 results. In the quarter, the company’s income has increased by 30% to Rs 16,683 crore from Rs 12,855 crore on an annual basis. At the same time, the company has made a profit of Rs 3,090.6 crore against a loss of Rs 1,064.3 crore.
Ambuja Cement’s net profit fell by 38.51%
Adani Group company Ambuja Cement has released the results of the first quarter (April-June) of the financial year. In the first quarter, the company’s revenue increased by 18.29% on an annual basis to Rs 4729.71 crore. However, the net profit of the company declined by 38.51% from Rs 1048.78 crore to Rs 644.88 crore.
Today many companies including Titan and HPCL will release their Q1FY24 i.e. first quarter (April-June) results of Financial Year 2024. These companies include Aditya Birla Capital, Godrej Properties, Gujarat Gas, InterGlobal Aviation and Metropolis Healthcare.
