Reliance Industries Ltd announced on Thursday that it has completed the sale of REC Solar Norway AS to Oslo-listed Elkem ASA for approximately USD 22 million. This move is expected to have a significant impact on the stock market, as it marks a strategic shift for the company.
Texmaco Rail & Engineering also reported positive results, with its Q4 PAT rising to Rs 45.32 crore from Rs 18.33 crore YoY. This growth in revenue is a positive sign for the company and could lead to increased investor interest.
In European markets, stocks opened mixed, with London’s FTSE 100 down 0.2%, Paris’ CAC 40 slipping 0.1%, and Frankfurt’s DAX rising 0.1%. This mixed performance reflects the uncertainty in global markets.
Mayank Cattle Food also reported strong Q4 results, with a surge in Profit after Tax standing at Rs 30.115 million and revenue from operations increasing significantly. This positive performance could attract more investors to the company.
Overall, the stock market is experiencing volatility, with the Sensex gyrating between gains and losses. However, with positive results from key companies and strategic moves like the sale of REC Solar Norway AS, there is potential for growth and stability in the market. Investors are advised to stay informed and monitor market developments closely.
