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For the quarter ended December 2022, the company posted a net profit of Rs 3.85 crore against a net loss of Rs 8.81 crore for the same period in FY22. Its total income for Q3FY23 stood at Rs 133.11 crore compared to Rs 102.84 crore during the period ended December 31, 2022

At the end of 2022, the Norwegian fund held shares in Adani Green Energy worth $52.7 million, a stake in Adani Total Gas worth $83.6 million and ownership in Adani Ports & Special Economic Zone worth $63.4 million.

"We remain structurally positive on Indian telecom and Bharti given the consolidation in the sector, which may lead to regular tariff hikes. Maintain buy at SOTP-based PT of Rs 1,009 (Rs 1,039 earlier) as we increase lease debt, but increase India mobile multiple to 8.5x (7.8x earlier)," Prabhudas said.

Citing the impact from restructuring charges and its exit from non-core businesses, Credit Suisse said in a statement that it .would also expect the group to report a substantial loss before taxes in 2023

“Novelis is definitely impacted by the destocking in the beverage can segment and the management has pointed out that this impact is likely to continue for maybe two to three quarters more. So the stock will be fairly muted for some period of time. We will await a better entry point.”

In the overseas market, both gold and silver were trading flat at USD 1,880 per ounce and USD 22.50 per ounce, respectively

The Reserve Bank of India slowed the pace of interest rate increases for the second straight time when it on Wednesday expectedly increased borrowing cost by 25 basis points but hinted more to come as core inflation remained high

After getting hammered for the past one week, Adani Group stocks made a recovery for the past few days after the promoters soothed investor nerves by prepaying loans worth $1.11 billion. Although, the latest MSCI announcement spoiled the bullish sentiment.

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Piramal Pharma said while the YoY financials are not strictly comparable due to the non-inclusion of certain "non-common control transactions" with the Piramal Enterprises Ltd (PEL), it attributed the drop in EBITDA to higher operating expenses including raw material cost, energy prices, wage inflation, and marketing cost