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Founder and CEO of MarketsMojo, Dr. Mohit Batra, advises investors to not evaluate their investments on a year-to-year basis and instead use a time frame of 3 to 5 years. Batra believes that the Indian equity market will provide returns in the teens in 2023, with a Nifty target of 20,100. As for the crisis in Go First, Batra anticipates that the pent-up demand in the aviation sector will begin to cool off in the next three to six months. Batra suggests that investors should allocate 10 to 15% of their net worth in gold and silver.

Air compressor manufacturer, ELGi Equipments Ltd has posted a profit after tax of Rs 80.63 crore, up 32.9% YoY, for Q1 2023. Total income of the company rose to Rs 476.8 crore for Q1 2023 from Rs 466.3 crore in Q1 2022. For the fiscal year ending March 31, 2023, its profit after tax surged by 43.9% to Rs 272.48 crore from Rs 189.35 crore YoY. The board has also recommended a dividend of Rs 2 per share for 2022-23, pending shareholder approval. ELGi remains cautiously optimistic to achieve its FY24 revenue targets.

Investors are showing greater confidence in the market, causing them to slow down inflows into cash funds, according to a BofA report. A total of $25.1bn went into cash in the past week, but only $151bn has gone into money market funds in the past four weeks compared to $404bn after the collapse of Silicon Valley Bank. The report also showed U.S. Treasuries clocking up 14 weeks of inflows. Investors preferred investment grade bonds to high yield bonds and invested $1.1bn into tech stocks but pulled $700 million from financial funds.

Several smallcap stocks in India have offered double-digit weekly returns amidst weak global cues. Repro India has offered the highest returns at nearly 45%, followed by Aurionpro Solution and Shakti Pumps. The midcap segment has not witnessed any stock rising in double digits, but Ramco Cements led the segment with 9.66% gains. Despite the lack of decisive direction, the Indian domestic market closed positively. Investors would continue to look for global cues to understand market direction and earnings growth. The market is expected to resume its upward journey, supported by positive global cues.

In the financial year 2023, the top 10 Indian companies earned a total profit of Rs 3,56,652 crore, according to Ace Equity Data. Meanwhile, Reliance Industries remained the highest profit-earning firm with Rs 74,131 crore in FY23.

Shares of SBI rose as much as 2.1% before giving up most of their early gains in a choppy trade. The stock eventually closed at ₹575.65 apiece on the NSE, up 0.25% from the previous close.

Chander Agarwal, Managing Director of TCI Express, believes that service to society, meditation, and gym workouts keep him mentally fit. Agarwal is actively involved in TCI Express Foundation, which is the social arm of the company committed to empowering disadvantaged communities. He has gained a deeper understanding of the challenges faced by the underprivileged through such engagements. A nutritious breakfast, reading, and creating a daily plan helps Agarwal stay organized and focused on his goals. He advises new and aspiring leaders to prioritize self-care and to develop time management skills to maintain productivity and a healthy work-life balance.

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.

US stocks closed lower on Friday after negotiations to raise the US debt ceiling in Washington were paused, denting optimism for a deal. The two previous sessions had seen stock market rallies due to growing confidence in reaching an agreement but the optimism was reversed on Friday after talks were halted and Federal Reserve Chair Jerome Powell spoke at a monetary policy panel, raising uncertainty about interest rates. For the week, the Dow gained 0.38%, the S&P 500 climbed by 1.65% and the Nasdaq advanced by 3.04%, with the S&P 500 and Nasdaq posting their biggest weekly percentage gains since March.

The U.S. stock market rallied on Thursday, with the Dow Jones Industrial Average rising 115.14 points, or 0.34%, to 33,535.91; the S&P 500 gaining 39.28 points, or 0.94%, at 4,198.05; and the Nasdaq Composite added 188.27 points, or 1.51%, at 12,688.84. Walmart Inc. raised its sales outlook and strong economic data calmed recession fears while also dampening