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Nifty ended 166 points at 18,255. Broader markets, however, underperformed the headline indices, with Nifty Midcap 100 ending 0.6% higher.

The Nifty Realty index closed 0.04 per cent up at 446.4.

The company had reported a net profit of Rs 165 crore in the January-March quarter of 2021-22 fiscal from the continuing operations.

Adani Electricity Mumbai Ltd., a wholly-owned subsidiary of Adani Transmission, will announce the bond buyback shortly, one of the people said, asking not to be identified as the information is private. A few banks are working with Adani Transmission to facilitate the deal, according to one of the people. A representative from Adani Group declined to comment.

The 30-share BSE benchmark Sensex hit a 3-month high and advanced 556 points or 0.91% to settle at 61,749. The broader NSE Nifty hit a 4-month high and surged 166 points or 0.92% to end at 18,256.

Around 62% of actively managed funds in India have failed to outperform their benchmarks, according to Feroze Azeez. Analysts noted that multiple factors influence the returns of active funds, including macro and microeconomic factors, company management, and the investment strategies of fund managers. Azeez suggested that investment firms should spend significant time researching the funds they use and employ distributors or advisors with the ability to select the most successful options to counter the high number of underperforming schemes.

The Nifty Auto index closed 0.11 per cent up at 13292.55.

The stock traded at a P/E multiple of 15.78, while the price-to-book value ratio stood at 1.3.

​As per the latest data for the March quarter, Dhawan has holdings in about 13 stocks, worth approximately Rs 2500 crore. Out of these 13 stocks, seven have given negative returns so far in 2023.

With both those events happening and demand picking up, we hope that India can build a strong aviation sector both for domestic air travel as well as for international travel and hopefully we will realise our long-held dream of creating international hubs in our own country.