Mumbai: The share price of Ircon, ITI, SAIL, Cummins India and some other companies are in focus on November 8, 2024 for various reasons like second quarter results of 2024-25 and other events. The trends showed that the mentioned stocks are attracting high search volumes.
Meanwhile, the BSE Sensex and NSE Nifty declined in early trade amid foreign fund exodus. The BSE benchmark dropped 424.42 points to 79,117.37 while the broader Nifty slumped 132.7 points to 24,066.65. The Rupee declined 5 paise to all-time low of 84.37 against US dollar in early trade today. The US stock markets closed in Green on November 7.
Ircon share price
Ircon International share price lowered over 5 percent to Rs 203.50 today morning. The Railway PSU stock went down a day after it announced its second quarter results for fiscal 2024-25 on November 7. The company’s consolidated net profit dropped by 17.9 per cent year-on-year (YoY) to Rs 205.9 crore. It was Rs 250.73 crore in the Q2 of 2023-24.
Ircon’s revenue from operations during the July-September quarter of the current fiscal was recorded at Rs 2448 crore as against Rs 3033.3 crore in the same quarter of previous financial year.
ITI share price
ITI share price jumped to Rs 286.28 per equity share today morning. It is a public sector undertaking in the telecommunications technology segment. The company has its units in Palakkad, Rae Bareli, Mankapur, Bengaluru, Naini. The PSU has 25 Marketing, Services & Projects (MSP) centres across the country. The company is engaged in the business of manufactured products like Managed Leased Line Network (MLLN) products, Set Top Box, Defence products like multi-capacity encryption units, Stand Alone Signaling Transfer Point(SSTP), Wi-Fi Access Point, Radio Modem, Gigabit Passive Optical Network (GPON), SMPS, Bulk encryption Units (BEU), Terminal End Secrecy Devices (TESD).
SAIL share price
SAIL share price dropped over 4 percent to Rs 117.79 per equity share today morning. The fall was recorded after the state-owned registered a 31 per cent fall in consolidated net profit to Rs 897.15 crore in second quarter of 2024-25. The company had reported a Rs 1,305.59 crore net profit in the same quarter of 2023-24. As per the exchange filing of SAIL, the total income declined to Rs 24,842.18 crore from Rs 29,858.19 crore in the July-September quarter of preceding the previous financial year.
SAIL Chairman Amarendu Prakash said, “We expect H2 FY25 to bring more promising results compared to H1 FY25, which was impacted by various challenges. Moving forward, with an expected downtrend in steel imports and projected growth in GDP and capital expenditure, H2 FY25 may yield better performance.”
Cummins India share price
Cummins India share price was marginally lower at Rs 354.72. The company in its Q2 Results 2024-25, stated that its consolidated net profit increased 37 per cent, while its revenue jumped 31 percent to Rs 2,508.6 crore. Ebitda appreciated 19 per cent to Rs 1,016.9 crore while the Net profit jumped 37 percent to Rs 449.4 crore.
This is a developing story, More details will be updates soon…
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