In the international market, gold was trading higher at $1,768 per ounce and silver was flat at $22.80 per ounce.
New vehicle sales have plunged as supply chain disruption, chip shortages and depleted inventories add to the pricing pressure affecting supply volumes.
The company reported a 6.1 per cent quarter-on-quarter growth in consolidated revenues to Rs 29,602 crore for the reported quarter, which also managed to beat Street’s estimate.
“There is a huge amount of opportunities ahead of us in terms of the consumer discretionary space. â€
SEBI has proposed the introduction of gold exchange in order to have better price discovery of gold.
The Nifty Bank index closed 0.3 per cent up at 38635.75.
In dollar terms, net profit was up 57.3 per cent at $54 million and revenues were up 34.1 per cent at $350.1 million. The L&T group company also announced an interim dividend of Rs 10 per equity share.
“The big are getting bigger and the strong are getting stronger, but the breadth of the market and the opportunity set are likely to remain much wider.â€
A total of 1,586 shares changed hands on the counter till 01:31PM (IST)
On the technical charts, the RSI of the stock stood at 43.81.
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