Key Market Movements: Spotlight on Tata Motors, ICICI Bank, Vedanta, Piramal Enterprises, Zomato Stocks

  • Tata Motors and Eicher Motors report significant Q4FY24 profits, with Tata Motors planning to streamline operations by merging its vehicle financing subsidiaries with Tata Capital.
  • Wipro’s head of Asia Pacific, the Middle-East, and Africa resigns, while Adani Enterprises plans to invest ₹80,000 crore in FY25, focusing on new energy businesses and airports.
  • Pharmaceutical major Cipla reports a 78.64% YoY increase in consolidated net profit for the March quarter, driven by higher demand in key markets.

Major Indian companies report Q4FY24 earnings, with Tata Motors, Eicher Motors, and Cipla among those posting significant profits. Wipro sees a top-level resignation, while Adani Enterprises announces major investment plans.

Tata Motors and Eicher Motors Post Impressive Q4FY24 Profits

Tata Motors reported a 222% surge in net profit to ₹17,407.2 crore in Q4FY24, driven by strong performance across all auto businesses. The company’s total revenue rose 14.3% to ₹1.2 lakh crore. The board recommended a final dividend of ₹6 per ordinary share and ₹6.20 per ‘A’ ordinary share for FY24. The company also plans to separate its vehicle financing subsidiaries and merge them with Tata Capital to streamline operations and reduce debt. The move will involve a share-swap arrangement, with Tata Sons offering shares of Tata Capital to Tata Motors.

Wipro’s Head of Asia Pacific, the Middle-East, and Africa Resigns

Anis Chenchah, head of Asia Pacific, the Middle-East, and Africa at Wipro Ltd, has resigned. His resignation comes amid challenging times for Wipro’s APMEA business. Wipro replaced Chenchah with Vinay Firake, a Wipro veteran of 26 years.

Conclusion

Indian companies continue to navigate the financial landscape, with several reporting impressive Q4FY24 profits. Tata Motors and Eicher Motors posted significant profits, while Wipro saw a top-level resignation. Meanwhile, Adani Enterprises announced major investment plans, focusing on new energy businesses and airports. These developments provide a snapshot of the current state of India’s corporate sector and offer insights into future trends and opportunities.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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