Sales rise 1.29% to Rs 37923.00 crore

The auto major’s standalone net profit jumped 35.11% to Rs 1,936 crore on 28.97% rise in revenue from operations to Rs 11,484.68 crore in Q4 FY24 over Q4 FY23.

The National Stock Exchange (NSE) on Thursday said it will introduce derivative contracts on Nifty Next 50 index from April 24.
The Nifty Next 50 index represents 50 companies from Nifty 100 after excluding the Nifty 50 companies.
In a statement, NSE said it “has received approval for derivatives on Nifty Next 50 index from the Securities and Exchange Board of India (Sebi) and will launch these contracts from April 24, 2024”.
The exchange will offer three serial monthly index futures and index options contract cycles. The cash-settled derivatives contracts will expire on the last Friday of the expiry month.
“The introduction of derivatives on the Nifty Next 50 index will complement the existing index derivatives product suite. The Nifty Next 50 index will represent the space between the Nifty 50 index comprising the top large & liquid stocks and the Nifty Midcap Select index comprising the top large & liquid mid-capitalised stocks,” Sriram Krishnan, Chief Business Development .

The Indian rupee recovered against the dollar as the American currency and international crude oil prices retreated from their elevated levels. Rupee rebounded from its all-time low levels and appreciated 6 paise to close at 83.55 (provisional) against the US dollar on Thursday. At the interbank foreign exchange market, the local unit opened at 83.51 against the greenback. The unit hit an intra-day high of 83.49. The domestic unit finally settled at 83.55 (provisional) against the dollar, 6 paise higher from its previous close. Meanwhile, Indian shares extended losses for a fourth day running on Thursday due to heightened tensions in the Middle East and concerns about the outlook for U.S interest rates. The benchmark S&P BSE Sensex ended the session down 454.69 points, or 0.62 percent, at 72,488.99 after having rallied over 500 points to a high of 73,473 earlier in the day. Likewise, the broader NSE Nifty index hit an intraday high of 22,326 before reversing course to finish down

The new offering will include futures and options contracts, settling in cash on the last Friday of their expiry month. The Nifty Next 50 index tracks the performance of the next 50 largest companies in the Nifty 100 after excluding those in the Nifty 50. This provides investors with exposure to a segment representing around 18% of the total market capitalisation of NSE-listed stocks. As of March 2024, the index has a strong showing from the financial services sector (23.76% weight), followed by capital goods (11.91%) and consumer services (11.57%).