The Indian rupee closed marginally weaker on Wednesday, lagging Asian peers, on dollar demand linked to maturing non-deliverable forwards positions and month-end importer demand, while positive cues from a broad-based decline in the greenback capped losses.
ACC Q3 Results: ACC's net profit saw a significant drop of 63 percent year-on-year for the December quarter. The company posted a profit of Rs 404 crore. However, its revenue from operations showed growth, increasing by 22 percent to Rs 6,391 crore. This performance reflects a mixed financial outcome for the Adani Group firm during the period.
Adani Electricity Mumbai has secured a AAA credit rating from India Ratings, placing the private utility on par with Indias sovereign credit profile. The upgrade reflects regulatory support, declining leverage and improved operating performance following a turnaround since its acquisition in 2018.
CarTrade Tech shares slid sharply after the company reported strong December-quarter profit growth and a significant expansion in margins, with investors focusing instead on a slowdown in revenue growth compared with the prior quarter.
Hindustan Copper shares surged nearly 15% in two sessions after the state-owned miner emerged as the preferred bidder for a new copper block in Madhya Pradesh, reinforcing investor optimism amid a strong global metals rally and bullish technical signals.
Tata Consumer Products shares dropped significantly on Wednesday. This occurred even as the company reported a 38% year-on-year profit jump and 15% revenue increase for the December quarter. Analysts from Morgan Stanley, Motilal Oswal, and JM Financial provided their views on the stock. Their recommendations range from Overweight to Buy and ADD, with varying price targets.
