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​It is really countries that are facing a refinancing problem or a default problem where there really is a sovereign creditworthiness issue at stake. When they get downgraded, and particularly when they go from investment grade to high yield or junk bond status, that is when it becomes a very serious problem. So I think this will pass.

"Considering the subdued ROE profile of the company as well as high post-issue adequacy of 50%, return ratios are expected to remain under pressure in coming years. We have a cautious view on the issue," said Incred Equities.

Steve Englander of Standard Chartered Bank believes that the panic caused by the Fitch downgrade of the US rating is a pure risk premium, with US CDS barely impacted. Englander also thinks that the US market will soon move past the downgrade as everything Fitch said was already true and that equity markets had been overenthusiastic over the last couple of months. Furthermore, there may be a sharp correction in equity markets but he would not sell US equities due to the Fitch downgrade.

Multipolar world trends are supporting FDI and portfolio flows, with India adding a reform and macro-stability agenda that underpins a strong capex and profit outlook, Morgan Stanley said, adding that a secular trend is seen toward sustained superior USD EPS growth versus EM over the cycle, with a young demographic profile supporting equity inflows.

Morgan Stanley maintained an equal-weight rating on M&M Finance with a target price of Rs 300. Disbursements and collections remained strong in July. Collection efficiency in July was also marginally better.

Promoters held 59.42 per cent stake in the company as of 30-Jun-2023, while FIIs owned 24.96 per cent, DIIs 10.2 per cent.

The Nifty Pharma index was trading 1.96 per cent up at 15236.5.

​So yes, the acquisition is good and if the companies go for inorganic expansion that would be better for the industry compared to the organic ones because they would only increase the gas supply. But consolidation in the industry would overall benefit the entire cement sector as a whole.

A total of 3,556 shares changed hands on the counter till 10:30AM (IST)

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.