Net profit of Tech Mahindra rose 22.96% to Rs 851.50 crore in the quarter ended June 2024 as against Rs 692.50 crore during the previous quarter ended June 2023. Sales declined 1.17% to Rs 13005.50 crore in the quarter ended June 2024 as against Rs 13159.00 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales13005.5013159.00 -1 OPM %12.0310.17 - PBDT1640.301417.80 16 PBT1178.10971.20 21 NP851.50692.50 23 Powered by Capital Market - Live

Tech Mahindra announced that Nitesh Aggarwal, Chief Strategy Officer has been designated as Senior Management Personnel of the Company with effect from 26 July 2024. Powered by Capital Market - Live

The frontline indices continued to extend gains in the afternoon trade. The Nifty marched above the 24,750 mark. All the sectoral indices on NSE were in the green with metal, IT and healthcare shares gaining the most. At 13:30 IST, the barometer index, the S&P BSE Sensex jumped 1,158.60 points or 1.44% to 81,196.21. The Nifty 50 index surged 380.30 points or 1.56% to 24,786.40. In the broader market, the S&P BSE Mid-Cap index gained 1.92% and the S&P BSE Small-Cap index rose 1.09%. The market breadth was strong. On the BSE, 2,732 shares rose and 1,109 shares fell. A total of 128 shares were unchanged. Gainers & Losers: Divi's Laboratories (up 4.71%), Apollo Hospitals Enterprise (up 4.23%), SBI Life Insurance (up 4.11%), Adani Enterprises (up 3.85%) and Bharti Airtel (up 3.84%) were major Nifty gainers. Oil & Natural Gas Corporation (down 1.43%), Nestle India (down 0.95%), Dr. Reddy's Laboratories (down 0.22%), HDFC Bank (down 0.20%) and Axis Bank (down 0.12%) and were major Nifty losers. Stocks in Spotlight: Tech Mahindra rose 0.07%. The IT major's consolidated net profit jumped 28.82% to Rs 851.5 crore on 1.04% rise in revenue from operations to Rs 13,005.5 crore in Q1 FY25 over in Q1 FY24. On a year on year (YoY) basis, Tech Mahindra's net profit grew 22.96% while revenue fell 1.17% in first quarter of FY25. Cyient dropped 5.67% after the IT major reported 23.94% fall in consolidated net profit to Rs 143.9 crore on 9.94% decline in revenue from operations to Rs 1,675.7 crore in Q1 FY25 over Q4 FY24. DLF advanced 2.63% after the realty major's consolidated net profit increased 22.51% to Rs 645.61 crore in Q1 FY25 as compared with Rs 527 crore recorded in Q1 FY24. Revenue from operations fell 4.28% year on year (YoY) to Rs 1,362.35 crore in the quarter ended 30 June 2024. VST Industries rallied 3.03% after the company said that its board has recommended issue of bonus shares in the ratio of 10:1, i.e. ten new bonus equity shares of Rs 10 each for every one existing fully paid equity share of Rs 10 each. SJVN zoomed 7.80% after the company received a letter of intent (LOI) for allotment of Darzo Lui Pumped Storage Project from the Government of Mizoram. Global Markets: European shares advanced while most Asian stocks traded higher on Friday as investors digested Tokyo's latest inflation data and awaited key U.S. economic figures. Japan's headline inflation eased slightly to 2.2% in July, while core inflation held steady at 2.2%. The market's focus now shifts to the U.S., where the release of the personal consumption expenditure (PCE) index ' the Federal Reserve's preferred inflation gauge ' is expected to influence interest rate expectations. Meanwhile, U.S. stocks experienced a rotation away from technology shares on Thursday, with the Nasdaq Composite and S&P 500 declining. The Dow Jones Industrial Average bucked the trend with a modest gain. This shift is a common occurrence during bull markets as market leadership evolves. Powered by Capital Market - Live