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Hindustan Aeronautics (HAL) shares rose 4% after the company announced a 22% increase in net profit for the quarter ending September 30, 2024. The company's net profit reached Rs 1,510 crore, up from Rs 1,237 crore in the same period last year. Revenue from operations also grew by 6% to Rs 5,976 crore.
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News and Media
IGL Share Price: Shares of Mahanagar Gas and Indraprastha Gas dropped by up to 18% after the government reduced the APM allocation by 20% for the second consecutive month. In response, Nirmal Bang downgraded both stocks to a 'Sell' rating, cutting target prices for MGL by 35% and IGL by 31% due to revised EBITDA estimates, concerns over slower growth & narrower margins.
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News and Media
IT stocks came under pressure on Monday after US Federal Chair Jerome Powells comments suggesting a slowdown in interest rate cuts. Powell highlighted persistent inflation and a strong economy, allowing the Fed to approach decisions cautiously. Indian IT stocks, sensitive to US market moves, saw declines of up to 5%, with major companies like LTIMindtree and Wipro hit hardest.
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News and Media
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