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The asset quality also improved during the period. The Gross NPA has declined by eight basis points (bps) to 3.28 % from 3.36 % as compared to the sequential previous quarter. Similarly, the Net NPA also declined by six bps to 1.66 % from 1.72 % as compared to the sequential previous quarter, the bank said in a press release

But financial markets immediately interpreted the move as suggesting the tightening cycle might in fact end soon

We would like to clarify that none of the shares of Ambuja or ACC has been pledged by Promoters. The Promoters have only provided a non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top-up under the acquisition financing raised last year

The company is scheduled to announce its earnings for the December quarter on Friday. The sustenance of the current momentum in the stock will hinge upon the earnings scorecard and guidance on price hikes after the tax hike.Markets/Stocks/News

Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday recognised "offshore derivative instruments (ODIs) as valid contracts" in order to enhance business activities in the Gujarat International Finance Tec-City (GIFT City).

In another ruling passed on November 2, 2018, the regulator had restrained Ramalinga Raju, Rama Raju, B Suryanarayana Raju and SRSR Holdings from the securities markets for 14 years. Also, they were asked to disgorge Rs 813 crore of unlawful gains with interest.

Meanwhile, India in its annual Economic Survey forecast economic growth of 6% to 6.8% in the 2023/24 fiscal year, slowing from the 7% growth projected for the current year ending March 31, as a global slowdown might hurt exports.

The Nasdaq Composite gained 248.83 points, or 2.11%, to 12,065.15 at the opening bell

Dr Lal PathLabs said its emphasis is on improving the market penetration through franchisee model, and leveraging the digital infrastructure to drive volumes and maintain the margin trajectory.

The pound strengthened right after the decision was announced, with some having expected the central bank to downshift to a 25 basis-point rate hike. But sterling then quickly reversed course to hit session lows.