Tech View: Nifty on Thursday ended 144 points higher and formed a high-wave type candle pattern. Larsen & Toubro raises Rs 1,500 crore through NCDs. US stocks open higher on hopes of the end of Fed’s rate hikes. Oil gains 1% after Fed keeps rates unchanged. Pound rises after Bank of England holds rate steady. Akzo Nobel India reports a 44% increase in net profit. Tata Motors reports Q2 results with a rise in revenue. Adani Enterprises reports a 848% growth in net profit in Q2.
VA Tech Wabag predicts that 50% of its revenue will be derived from overseas projects, with the Middle East and Africa being key areas of focus. The company has a robust order backlog and is targeting high technology projects in the water sector, including desalination, recycle and reuse, and effluent treatment plants. They aim to increase their revenue and margin through these projects, particularly in the oil and gas industries. Furthermore, VA Tech Wabag expects their order book to be higher by the end of March 2024 compared to the current year.
