Market News
4 min read | Updated on January 17, 2025, 13:00 IST
SUMMARY
Shares of Sterling and Wilson Renewable Energy were trading nearly 9% higher at ₹417.70 apiece on the NSE. The company on Thursday posted a consolidated net profit of ₹17.14 crore for the December quarter FY25, mainly on the back of higher revenues.
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Around 12:45 PM, the S&P BSE SENSEX was trading at 76,682.73, down 360.09 points, or 0.47%.
Around 12:45 PM, the S&P BSE SENSEX was trading at 76,682.73, down 360.09 points, or 0.47%, while the NSE's NIFTY50 index was trading at 23,226.90, down 84.90 points, or 0.36%.
In the early trade, the stock rose as much as 4.7% to ₹1,326 apiece on the National Stock Exchange (NSE).
The company announced a 7.3% year-on-year increase in consolidated profit after tax (PAT) to ₹18,540 crore for the December quarter of FY 2024-25, compared to ₹17,265 crore in Q3FY24, powered by a rebound in retail and telecom businesses.
The private sector lender reported a 4% growth in its December quarter net profit to ₹6,304 crore, impacted by asset quality pressures from the retail segment.
Executives at the country's third largest private sector lender said the bank sees a degree of indebtedness in certain segments of the borrowers, which led to taking a deliberate call on slowing loan growth to 9% in the October-December period.
GSFC is a leading fertilizer manufacturer in India and produces a variety of fertilizers and agro products. GSFC was incorporated in 1962 and began producing fertilizers in 1967.
The company on Thursday posted a consolidated net profit of ₹17.14 crore for the December quarter FY25, mainly on the back of higher revenues.
The company had incurred a net loss of ₹62.39 crore in the year-ago period.
Total income rose to ₹1,842.67 crore from ₹610.31 crore in the same period a year ago.
Net profit of the company declined 28.68% to ₹40.94 crore in the quarter ended December 2024 as against ₹57.40 crore during the previous quarter ended December 2023.
Sales rose 6.48% to ₹2,009.75 crore in the quarter ended December 2024 as against ₹1,887.49 crore during the previous quarter ended December 2023.
Recently, the Ministry of Defence (MoD) signed a contract with the company for the supply of medium-range surface-to-air missiles (MRSAM) for the Indian Navy.
The missiles would be supplied by BDL at a cost of approximately ₹2,960 crore.
The MRSAM system is a standard fit, onboard multiple Indian naval ships, and is planned to be fitted on the majority of the future platforms planned for acquisition.
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