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Shares of FMCG major ITC surged 4% to a day's high of Rs 490 on the BSE on Friday, following the company's announcement of a nearly 16% increase in revenue to Rs 22,282 crore for the quarter ended September 2024. While net profit rose marginally to Rs 4,993 croreup 2%it fell short of Street estimates of Rs 5,079 crore. However, revenue exceeded expectations of Rs 18,068 crore.
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Waaree Energies plans to use IPO funds to establish a 6 GW manufacturing facility in Odisha and support general corporate purposes. As India's largest solar PV module manufacturer with 12 GW capacity, the company reported a 69% revenue increase to Rs 11,398 crore in FY24. It is also expanding to a 3 GW facility in the U.S.
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In the near term, the markets may remain volatile amid geo-political conflict, upcoming US Presidential elections and Q2FY25 result season.
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