Nifty Hits Record High

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niveza
Posts: 132
Joined: Wed Feb 22, 2017 3:48 pm

Nifty Hits Record High

Post by niveza »

The market opened positive and nifty and bank nifty reached its all-time high due to positive Asian cues post-French election's first round results and positive earnings from banks. Sensex gained 287.40 points to 29943.24 and Nifty gained 88.65 points to 9306.60

Wipro has reported better than expected earnings for the fourth quarter as consolidated profit grew by 7.2% to Rs 2,267Cr. Rupee revenue from its IT services business increased 1.56% to Rs 13,402.1 crore in March quarter against Rs 13,196.1 crore in the same quarter last year. Wipro said board of directors approved issue of bonus shares in the proportion of 1:1 (one bonus equity share for every one fully paid-up equity share held)
The main loser in today’s market was Tata Power as it is considering selling off non-core assets to support the Mundra plant following a Supreme Court ruling against compensatory power tariffs.

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