Domestic equity market closed higher on Friday snapping a three-day losing streak. Sensex rose 480 points to end the session at 65,721 and Nifty gained 135 points to settle at 19,517
Ajit Mishra, SVP - Technical Research, Religare Broking said, “Nifty rebounded after testing the support of 19,300 but failed to reclaim the short-term moving average i.e. 20 EMA. We need sustainability above the same for further recovery else the decline would resume. Though we are seeing a dip in the global indices too, their trend hasn’t reversed yet, which is offering some comfort. Amid mixed signals, we advise staying selective and keeping a check on position size.”
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Shares of Godfrey Phillips India will turn ex-dividend on August 11, 2023. The firm declared a final dividend of Rs 44 per share during the Q4 and annual earnings announcement
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Bharat Heavy Electricals Limited (BHEL) reported a widening of consolidated loss at Rs 343.89 crore for the June quarter compared with Rs 187.99 crore loss in the same quarter last year. BHEL had logged a profit of Rs 611 crore in the March quarter
State Bank of India (SBI) reported a 178.24 per cent year-on-year (YoY) rise in standalone net profit at Rs 16,884.29 crore for the June quarter compared with Rs 6,068.08 crore in the same quarter last year. This was the record net profit for the fourth quarter in a row
Mahindra & Mahindra (M&M) reported a 60 per cent year-on-year (YoY) rise in net profit to Rs 3,508.41 crore for the June quarter compared with Rs 2,195.54 crore in the corresponding quarter last year. Revenue from operations jumped 17.57 per cent YoY to Rs 33,406.44 crore for the June quarter compared with 28,412.38 in the corresponding quarter last year
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