Stock Market Sees Positive Movement; Sensex Gains 115 Points, Nifty Surpasses 22,340

The stock market closed on a muted note today, with the BSE Sensex slipping nearly 50 points and the Nifty settling nearly flat. The Sensex closed at 73,466.39, down close to 50 points, while the Nifty ended at 22,305, inching just over 2 points higher.

In other news, Jupiter Wagons reported a significant increase in net profit, surging over twofold to Rs 104.22 crore in the March quarter. This increase was attributed to higher income, as stated in a company release.

Bharat Forge also announced a strong performance in the fourth quarter, with a 77.8% increase in consolidated net profit to Rs 227.12 crore. This growth was driven by increased sales for the company.

Truecaller introduced new subscription plans for its Verified Business Caller ID solution, with updated packages and pricing effective from May 6th, 2024.

Steel Secretary Nagendra Nath Sinha projected a 10% increase in domestic steel demand in the coming years, driven by government emphasis on infrastructure development.

Godrej Properties reduced its net debt by 10% in the March quarter, reaching nearly Rs 6,200 crore, due to robust sales and customer fund collections.

In the automotive sector, India’s passenger vehicle retail sales saw a 27% jump in April compared to the same month last year, reaching 22,06,070 units.

Overall, the business landscape saw a mix of positive and negative developments, reflecting the ongoing volatility in the market. Stay tuned for more updates on the latest business news.