The handsome growth in the topline will be driven by both higher volumes and higher commodity prices, the rating agency said.
According to a Sebi order passed on Wednesday, the entities had filed separate settlement applications in terms of the SEBI (Settlement Proceedings) Regulations, 2018 proposing to settle the pending enforcement proceedings without admitting to or denying the findings of fact and conclusions of law through a settlement order.
The pharmaceuticals business will get vertically demerged from Piramal Enterprises and consolidated under Piramal Pharma Ltd (PPL), the group said in a statement.
While the market remains in a broad consolidation zone, it has tried to create a small congestion range for itself. This makes the 17,600 and 17,890 levels very important to watch, as any slip below the 17,600 level will take Nifty to the lower edge of the consolidation range, i.e., 17,400-17,450.
The price of Shiba Inu has rallied over 325 per cent in the last week, making its way into the top 15 tokens ahead of Algoran, Bitcoin Cash and Stellar. Its fully diluted market cap now stands at $30.07 billion.
Analysts project sequential net profit growth to be in a range of 4-11 per cent while on a year-on-year basis, that range may be at 10-12 per cent.
The 17,600-550 levels may emerge as key support for Nifty50 now, while the 17,900-950 range may pose a crucial hurdle, analysts said.
TitanΓ’β¬β’s jewellery division, its biggest money maker, recorded 78 per cent year-on-year growth in the September quarter, indicating that the reopening of the economy brought Indians back to the jewellery stores ahead of the busy festive and wedding season.
Γ’β¬ΕIn terms of policy statement, definitely the next three inflation prints are going to surprise positively because of the base effect turning favourable. It is going to provide relief to the MPC members at a time when there is a lot of pressure looking at other EMs to hike policy rates.Γ’β¬Β
Multiple stocks hit upper circuit limits during the session, surging 20 per cent each. Realty stock Sobha and select jewellery stocks were in demand after they posted strong September numbers. Tata Motors gained after an upgrade. Nelco and Srei Infra hit lower circuits.
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