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The Nifty Pharma index was trading 0.93 per cent up at 18005.65.

Healthy growth in revenue amid strong volumes and an improved operational performance is likely to have helped the company trim down losses, analysts said.

Italian Edibles is in the business of manufacturing confectionery products, ranging from Rabdi, milk paste, chocolate paste, lollipops, candies, jelly candies to multi-grain puff rolls.

The correction in ATF prices towards the end of the December quarter will also aid the airline in posting healthy numbers.

A total of 161,994 shares changed hands on the counter till 10:10AM (IST).

Paytm founder Vijay Shekhar Sharma, who also spoke, expressed confidence about overcoming the challenges posed by the Reserve Bank of India order asking the payments bank to stop all its services.

Gunjan Shah, MD and CEO of Bata India Limited, said, “Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience and expanding our reach across channels & markets.”

The government has also scrapped its plan to spend ₹5,000 crore on filling the strategic petroleum reserve (SPR). Crude oil has been very volatile this fiscal year and is currently trading around $80 per barrel, making it harder for officials to make purchase decisions.

Even from a capex perspective, the numbers presented are encouraging. At an allocation of ₹11.11 lakh crore for 2024-25, the capital expenditure outlay for 2024-25 is 17% higher than the revised capex estimate of ₹9.5 lakh crore in 2023-24.