Business News Highlights: Sensex, Nifty Ends Flat Ahead of RBI MPC Meet Outcome
Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy and corporate world
LIVE
Background
Rashi Peripherals IPO: Issue Fully Subscribed On Day 1
The initial public offer (IPO) of Rashi Peripherals was fully subscribed on the first day of bidding on Wednesday. The IPO attracted bids for 1,54,17,936 shares, exceeding the 1,42,37,289 shares available, achieving a subscription rate of 1.08 times, according to NSE data.
The non-institutional investors' portion was subscribed 1.87 times, whereas the retail individual investors (RIIs) segment received a subscription of 1.36 times.
Redington Q3 Result: Net Profit Stood At Rs 153.58 Crore
IT solutions provider Redington Ltd on Wednesday reported a standalone net profit of Rs 153.58 crore for the December quarter of the fiscal year 2023-24. The company had registered standalone net profits at Rs 141.38 crore during the corresponding quarter of FY23, the company said.
Power Grid Q3 Result: Net Profit Rises 11% To Rs 4,028 Crore
Power Grid Corporation on Wednesday reported a 10.5 per cent rise in consolidated net profit to Rs 4,028.25 crore in the December quarter of the current financial year mainly on the back of higher revenues. Its consolidated net profit stood at Rs 3,645.29 crore in the same quarter in FY23, the firm said in a regulatory filing.
Market Ends Flat Ahead of RBI MPC Meet
The Sensex and the Nifty concluded February 7 with marginal changes following a volatile session, with the Nifty unable to hold above the 22,000 level despite starting above it. Early gains were erased as investors turned their attention to the upcoming monetary policy decision by the Reserve Bank of India, scheduled for February 8. The Sensex ended 34.09 points lower at 72,152, while the Nifty finished 1.1 points higher at 21,930.50.
Trent Q3 Result: Net Profit Jumps Two-fold To Rs 370.64 Crore
Tata Group retail company Trent Ltd on Wednesday reported a two-fold increase in the consolidated net profit to Rs 370.64 crore for the third quarter of the financial year 2023-24, led by solid momentum in sales and improved margins. The firm had posted a consolidated net profit of Rs 154.81 crore a year ago in the same period, the company said in a regulatory filing.
Top Headlines
