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As part of its Last Mile Mobility business, Mahindra & Mahindra will manufacture electric 3 and 4 wheelers at this state-of-the-art facility.

While analysts retained their bullish calls on Adani Ports, they cut price targets after the company reported a 16% year-on-year drop in consolidated net profit for three months ended December 2022.

US stock indexes ended lower on Thursday, erasing earlier gains as Treasury yields rose after an auction of 30-year bonds went poorly and overshadowed strong earnings from corporate giants like Disney and PepsiCo.

Stocks have enjoyed an upbeat start to the year on hopes that the Fed will abandon its hawkish rhetoric and pilot the economy to a soft landing. Traders are betting that the Fed will raise its benchmark rate to a peak of 5.1% in July, largely in line with the forecasts of Fed officials.

Although gold is seen as an inflation hedge, higher rates hurt the appeal of bullion, which bears no interest. Data on Thursday showed the number of Americans filing new claims for unemployment benefits increased more than expected last week, but remained at levels consistent with a tight labour market.

While the relative growth of various products within the non-par bucket will vary within each quarter, we believe we are firmly on our way to achieving the target product mix changes. We think the market is showing signs of robust growth and we are confident of retaining and also growing our market share going forward.

The dollar index, which measures the U.S. currency against six major peers, was at 103.21, having dropped to as low as 102.63 in the previous session. The index is set to end the week with a small gain, its second straight positive week and a run it has not had since October.

MSCI said it had reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and the Associated Cement Companies, the report said.

Adani Enterprises slid 11% to close at ₹1,925.70 and Ambuja Cements declined 7% to ₹357.80. Five stocks - Adani Green Energy, Adani Total Gas, Adani Power, Adani Transmission and NDTV - hit a 5% lower circuit barrier. Adani Wilmar gained 5% to close at ₹439.70, while ACC declined 3% to ₹1,916. "This MSCI move may result in likely weight reductions," said Abhilash Pagaria, head, Nuvama Alternative and Quantitative Research.

The sharp drop in the bottomline was due to weak operational performance. The global aluminium major reported a 48% fall in operating profit to Rs 3,930 crore.