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Clever 50 Dips as Trick Supplies Disappoint
The Nifty 50 index shut 0. 5 % reduced at 25, 557 30 Monday, weighed down by disappointing profits reports from significant constituents, consisting of Wipro, Dependence Industries (RIL), and ICICI Financial institution.
- Wipro: Net revenue dropped 7 % in spite of a 6 % profits increase; deal wins at a six-quarter low.
- RIL: Internet revenue growth was virtually flat (around 1 %) despite an 11 % surge in earnings due to worries over retail section development.
- ICICI Bank: Internet profit declined 4 % after a one-off arrangement mandated by the RBI.
Experts mentioned issues about future growth for Wipro and RIL. ICICI Financial institution’s dip was credited to particular regulatory arrangements.
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