Indices at previous closing
Nifty50: 16,682 ▲ 5 (+0.03%)
Sensex: 55,702 ▲ 33 (+0.06%)
Nifty Bank: 35,232 ▼ 31 (-0.9%)
For more updates on F&O, click here.
Tata Power’s solar arm bags a large order
Tata Power Solar Systems announced it had landed India’s ‘largest’ solar engineering procurement and construction (EPC) order from state-owned hydroelectric power generating company SJVN. The single solar order of 1 gigawatts (GW) is worth ₹5,500 crore.
Aimed at reducing 22,87,128 kg of carbon emissions, the project hopes to generate 2,500 million units of power. It will be based in Rajasthan and will be completed within 24 months. The management said that with this project, the company’s order book crossed ₹12,000 crore, spanning a utility-scale renewables portfolio of more than 9.3 GW.
Good hair day for Marico
Marico reported a 13.2% year-on-year jump in its consolidated net profit to ₹257 crore in Q4. The FMCG firm’s operating revenue rose by 7% to ₹2,161 crore compared to ₹2,012 crore in the previous year.
According to the company, the rising inflation along with the geo-political tensions reduced consumption and there was a major decline in volumes in the rural market. However, it experienced better results from the international business, with a double digit growth in revenue.
TVS Motor sees tepid sales
Two- and three-wheeler maker TVS Motor reported a Q4 net profit of ₹275 crore, down 5% year-on-year, on the back of rising cost of raw materials. Meanwhile, revenue from operations rose 4% to ₹5,530 crore in the same period.
Overall, the company sold 8.56 lakh units in the quarter, compared to 9.27 lakh units in Q4 last year. Meanwhile, its mainstay motorcycles sales witnessed a 2% growth to 4.42 lakh units in the quarter.
Sectoral indices (May 6)
| Top gainers | Top losers |
| Nifty IT ▲ 2.0% | Nifty Realty ▼ 1.6% |
| Nifty Service ▲ 0.7% | Nifty Pharma ▼ 0.7% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.4% |
| Nikkei 225 (Japan) | ▲ 0.1% |
| Hang Seng (Hong Kong) | ▼ 2.6% |
| SSE Composite (China) | ▼ 1.4% |
| Dow Jones (US) (May 5) | ▼ 3.1% |
| NYSE (US) (May 5) | ▼ 2.4% |
| Nasdaq (US) (May 5) | ▼ 4.9% |
| S&P 500 (US) (May 4) | ▼ 3.5% |
Fact of the day
The arrest of a person named “Ma” in China wiped off $27 billion off e-commerce company Alibaba’s value on Wednesday.
Source: NDTV
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