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The Financial Express

Karur Vysya Bank jumps over 11% after June-quarter profit rises 45%

AI Market Summary
A cluster of Indian corporates reported strong June-quarter results, with notable profit and margin expansion at Karur Vysya Bank and CMPDI, resilient earnings at UltraTech Cement, and sharply improved profitability metrics at Paytm. Emcure added a regulatory catalyst via CDSCO approval for a new MASH indication. Broad intraday gains signal improving risk appetite and confidence in earnings durability, though the impact appears stock-specific rather than macro-wide.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-2.26%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Several Indian listed companies posted June-quarter 2024 results, with Karur Vysya Bank reporting a 45% year-on-year rise in net profit and CMPDI posting a 53.8% increase. UltraTech Cement’s net profit grew 17%, while One97 Communications (Paytm) reported profit after tax up 79%. Emcure Pharmaceuticals said CDSCO approved its co-marketed semaglutide brand Poviztra for treatment of noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH). Shares of the companies moved higher intraday after the updates.
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