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Analysts said a healthy earnings season despite rising input cost and tightening liquidity was the result of raw material inventory with corporates, the benefit of which will be missing in the coming quarters. The next two quarters will be crucial, they warned.

In the international market, both gold and silver were trading flat at USD 1,866 per ounce and USD 22.35 per ounce, respectively.

“Uday is the CEO till December 2023 but I think it is still premature to think about the exact name for succession. But I am sure the NRC and the board at an appropriate time will take that call. As far as Jay Kotak is concerned, he is working his way through the ranks of the organisation on merits.”

CoinSwitch is backed by Coinbase Ventures, Tiger Global, Sequoia Capital, Ribbit Capital among others.

In an update on stock exchanges, the company post market hours on Thursday said the fire broke out around the warehouse section of its manufacturing site located at Nandesari, District of Vadodara, Gujarat.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 57 or 0.11 per cent at Rs 51,326 per 10 grams in a business turnover of 14,427 lots.

“We would like to bring cash cycle below 90 days and we would like to make the full utilisation of funds so that we are able to bring down debtors’ days and also the inventory days to a considerable level. Currently, the inventory days are only the portion which is higher for four to six months but that will continue for important raw materials.”

“We have been guiding generally to say that we have been growing faster than the industry over the last quite a few years and we will continue that growth above the industry rate. That is the kind of rate we are committed to and we have not changed any of that.”

Investors are hoping that any signs of a slowdown in the U.S. employment market could sway the Federal Reserve towards a less aggressive policy path.

The EBP program supports the diversion of sugarcane and surplus sugar towards the manufacturing of ethanol which has now become the key focus point for the future of the sugar industry. The government also releases procurement prices for ethanol to divert sugarcane toward production of ethanol.