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Indian benchmark stock indices closed lower, weighed by losses in financial services, metal and FMCG stocks. The Sensex closed 0.19% lower at 60433.45 and Nifty fell 0.13% 18044.25.
Nifty Financial Services fell 0.68%, Metal lost 0.33% and FMCG was down 0.33%. Nifty Auto and Nifty PSU Bank indices gained 1.03% and 0.80%, respectively.
Indian rupee inched down 2 paise to close at 74.04 against the US dollar on Tuesday.
Stock in News Today
Mahindra & Mahindra: The maker of Thar vehicle registeres a jump in its standalone profit after tax (PAT) at Rs 1,432 crore in Q2FY22, from a standalone PAT of Rs 162 crore in the same period last year. The higher profit was due to robust sales and stronger export volumes. Revenue rose 15% to Rs 13,305 crore from Rs 11,590 crore in the year-ago period.
TVS Motor Company: The two-wheeler maker’s share hit a two-year high of Rs 793.45, climbing 11% on the BSE in Tuesday’s intraday trade, after various news reports said that the company is in talks with private equity investors to raise funds for its electric vehicle (EV) subsidiary. The plans to invest about Rs 1,000 crore on product development and capacity expansion.
MRF: The tyre maker’s consolidated net profit declined 54% to Rs 189.06 crore in Q2FY22, from Rs 410.92 crore in the year-ago period. Its operating revenue rose to Rs 4,907.81 crore in the second quarter from Rs 4,244.43 crore in the year-ago period. The company said its board has declared an interim dividend of Rs 3 per equity share for FY22 and the dividend will be paid on or after December 3, 2021.
JBM Auto Ltd: Shares of the company closed 9.53% after it won the order to supply 200 air conditioned busee to Delhi Transport Corporation. The buses will be fully built low floor electric buses of 12 metre length. The order comes under the Government of India flagship Fame II Policy.