Congress has said that the GDP growth figures released last evening for July-Sept 2024 are "much worse than anticipated and the fundamental cause for this is "stagnant wages" for crores of workers.
The Indian economy grew by 5.4 per cent in real terms in the July-September quarter of the current financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed on Friday. The quarterly growth was quite lower than RBI's forecast of 7 per cent.
Stock indices in India edged higher Friday, the last trading session of the week, as the investors closely watch out for July-September quarter GDP data to be released later today.
National Stock Exchange (NSE) on Monday reported that its consolidated net profits during the July-September quarter was 57 per cent higher year-on-year at Rs 3,137 crore. The net profit margin for the quarter stood at 62 per cent.
Adani Enterprises, the flagship entity of Adani Group, on Tuesday reported that its net profits during the July-September quarter rose 664 per cent to Rs 1,741 crore. In the year 2023, it was at Rs 228 crore.
Adani Group company Ambuja Cements delivered a steady performance in the July-September quarter of 2024-25 with a volume growth of 9 per cent, at 14.2 million tonne. It was the highest in terms of volume in Q2 series in the past five years.
Real estate business in the industrial and logistics sector in India demonstrated robustness in the July-September quarter, driven by third party logistics and manufacturing.
Adani Group company Adani Green Energy on Tuesday reported that its cash profit during the July-September quarter rose 21 per cent to Rs 1,249 crore. In the same quarter last year, it was Rs 1,030 crore.
Adani Group company Adani Energy Solutions Limited on Tuesday reported that its net profit or Profit After Tax during the July-September quarter rose 172.2 per cent to Rs 773 crore. In the same quarter of last fiscal, it was at Rs 284 crore.
Companies in the agrochemicals space are expected to witness a muted July-September quarter growth due to excess Southwest Monsoon (particularly in August and September), high carryover stocks, and price pressures, said financial advisory services firm Anand Rathi in a report.
Extending the ongoing uptrend, Indian stock indices kicked off the July-September quarter on a high. The indices Sensex and Nifty started Monday's session on a flat note, but as the day progressed both the indices accumulated decent returns for the investors.