Stock Market LIVE Updates | Nifty 50, Sensex open higher, Paytm down nearly 10%

Suven Pharma, Performance over the next few quarters likely to remain soft due to near-term macro challenges and industry-wide inventory de-stocking in specialty chemicals and the impact of Covid molecule in the CDMO business. Net profit for the quarter fell 56%, while revenue declined by 38%. Margin also narrowed to 29.78% from 41.5% last year.Following Reserve Bank of India’s (RBI) crackdown on Paytm Payments Bank, several Indian startup founders have written to the Prime Minister’s Office (PMO), Finance Ministry as well as the central bank requesting a rollback restrictions imposed on the fintech led by Vijay Shekhar Sharma, sources told CNBC-TV18 on February 6Net profit of ₹2,442.2 crore misses CNBC-TV18 poll estimate of ₹3,200 crore. Revenue and EBITDA in-line with estimates, while margin of 52.9%, higher than expectations of 52.2%. On a sequential basis, the margin narrowed by 20 basis points, while profit rose over 80%.

India mobile services Average Revenue Per User (*ARPU) stood at ₹208 from ₹193 during the same quarter last year. Ashok Leyland reported a robust Q3 with an EBITDA of ₹1114 Cr (12.0%) and a net profit of ₹580 crore, marking a 60% increase over Q3 FY23. Revenues stood at ₹9273 crore, a 2.7% growth. The company achieved a historic high commercial vehicle volume of 1,38,416 units in the first nine months of the fiscal year. Despite global challenges, it recorded a 6.5% growth in export volume. The debt was ₹1747 Cr at the end of Q3 FY24, with a debt-equity ratio of 0.2 times.