The Dow Jones Industrial Average rose 54.72 points, or 0.15 per cent, at the open to 35,545.41.
In the international market, gold was trading higher at USD 1,803 per ounce and silver was flat at USD 24.12 per ounce.
“If you take the 150CC and above sports motorcycle space, if you put together Enfield and Bajaj and TVS, we have 70-80% share. The point I am making is that good Indian two-wheeler companies are not really as lightweight as maybe some startups would like to think we are. â€
Raghupati Singhania, Chairman and Managing Director, said, “JK Tyre has been attaining continuous sales growth despite partially disrupted marketplace. The sales in the replacement market registered healthy growth whereas institutional sales recorded a quantum jump during the quarter.†Exports last quarter went up by 35%.
Net interest income (NIM), a key parameter of profitability, remained flat at 2.79% for the quarter under review, despite lower lending rates.
The reason behind the stellar show by United Spirits was the management’s commentary. United Spirits management indicated that demand scenario was improving rapidly.
The non-bank lender reported a 19.7 per cent on-year increase in its consolidated revenue from operations to Rs 18,008.2 crore for the reported quarter.
The shares of Tata Group chemical company declined 11 per cent to Rs 892.50 even as it posted an 88 per cent jump in its consolidated net profit at Rs 248 crore in the second quarter of the financial year 2021-22, mainly due to a rebound in soda ash volumes in the US and India.
The stellar revenue performance has come on the back of only 78 per cent capacity utilisation by the company.
The company added 8 new clients during the quarter to take its total client base to 186 with 87 per cent business generated from repeat clients.
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