Nifty Ends At Record High After Two-Day Decline
An employee walks along a pathway at the National Stock Exchange (NSE) in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Nifty Ends At Record High After Two-Day Decline

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Closing Bell: Nifty Ends At Record High After Two-Day Decline

India's Nifty soared to a record high after two-day decline led by banking shares.

The S&P BSE Sensex rose 1.05 percent or 391 points to 37,556 and the NSE Nifty 50 index climbed 1.03 percent or 116 points to a record closing high of 11,361.

Benchmarks rose for a second week in a row with Nifty advancing 0.7 percent and the Sensex rising 0.6 percent.

In today's session all sector gauges compiled by National Stock Exchange ended higher led by the Nifty PSU Bank index's 1.9 percent gain.

The mid- and small-cap shares were in line with larger peers as the Nifty Midcap 100 index rose 0.98 percent and the Nifty Smallcap 100 index advanced 1.4 percent.

Nifty Ends At Record High After Two-Day Decline

Zydus Wellness Surges After Q1 Earnings

Shares of the Ahmedabad-based drug maker rose as much as 7 percent to record high of Rs 1,524 after it reported June quarter earnings.

Key earnings highlights:

  • Revenues up 12.7 percent at Rs 143.1 crore versus Rs 127 crore
  • Net profit up 1.6 percent at Rs 25.7 crore versus Rs 25.3 crore
  • Ebitda down 13.7 percent at Rs 22.1 crore versus Rs 25.6 crore
  • Margins at 15.4 percent versus 20.2 percent

Nestle India Declines After Reporting Q1 Results

Shares of Nestle India Ltd. fell as much as 3.7 percent to Rs 10,359.95, after the reported its quarterly earnings for April-June period.

Key earnings highlights (Q1, YoY):

  • Net profit up 50 percent at Rs 395 crore.
  • Net sales up 12.3 percent at Rs 2,698.4 crore.
  • Ebtda up 39.8 percent at Rs 645.1 crore.
  • Margin at Rs 23.9 percent versus 19.2 percent.

Titan Gains After June Quarter's Profit Beat Estimates

Shares of the jewellery maker rose as much as 2.2 percent to trade at over a month’s high at Rs 942. The company's net profit during April-June period surpassed analysts estimates.

Key earnings highlights (Q1, YoY):

  • Net profit up 31 percent at Rs 349 crore.
  • Revenue up 8.2 percent at Rs 4,318.8 crore.
  • Ebitda up 27.5 percent at Rs 495.27 crore.
  • Margin at 11.5 percent versus 9.7 percent.

Rajesh Exports Surges On Order Win

Shares of the Bengaluru-based gold jewellery exporter and manufacturer rose as much as 5.36 percent to Rs 603.95 after it won an order worth Rs 892 crore for gold and diamond jewellery from a Middle-East-based wholesaler.

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