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Well, I think first off, I would not be surprised to see crude have another leg up from here. I am not suggesting it is going to be at 90 any time soon, but it has certainly got a rattle up.

The stock quoted a 52-week high price of Rs 630.0 and a 52-week low of Rs 306.0.

Rakesh Arora, founder of GO India, believes that while greed has taken hold, he does not foresee market collapse in India as both financials and IT are currently trading at their long period averages. While Dalmia and Ultratech have announced disappointing figures, cement industry insiders are speculating 15% growth in the sector this year. A good monsoon would provide further tailwind via rural demand.

The Relative Strength Index of the stock stood at 38.16 on Tuesday.

Meanwhile, revenue for the company decreased 23% to Rs 475 crore in the April-June quarter as compared with the same period a year before. Revenues for the company have fallen due to lower volumes in Europe and LATAM regions on account of high inflation, ongoing recession, and adverse weather conditions.

A total of 9,165 shares changed hands on the counter till 12:38PM (IST)

Mutual funds increased their stakes in seven out of 10 listed Adani Group companies in the quarter ended June, and retail investors in five, while FPIs reduced their ownership in six companies.

Gold and silver futures ended in the red in the previous session. While gold ended with a decline of 0.40%, silver futures fell sharply by 1.15%. On the Comex, Gold futures were trading at $1,963.70 per troy ounce on Tuesday, up by $1.50 or 0.08% while Silver futures trading at $24.645, higher by $0.064 or 0.260%.

If the Fed keeps to the expectation of not hiking, the macroeconomic scenario might improve and the overall deals might get converted into revenues in H2. Banking, automobiles, and Reliance, particularly the petrochemical business could do better. Input cost pressures are impacting companies such as Jubilant FoodWorks, as these costs remain at elevated levels.

On Friday, DLF reported a net profit of Rs 527 crore for Q1FY24 which was up from Rs 470 crore in the same period last year. Revenue from operations during the quarter, however, fell by a marginal 1% to Rs 1,423 crore in the June quarter. The same stood at Rs 1,441 crore a year ago.