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The new infusion from the private equity firm is expected in the coming weeks and is subject to conditions and milestones being met, said one of them.

Long-term structural growth potential driven by anticipated shortage and price increases prompted investors to shuffle their bets in favour of pharma companies. On Wednesday, the BSE Healthcare index was the top sectoral performer.

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According to Bloomberg consensus estimates, about 63% of the NSE 500 companies have seen earnings downgrades in the last four weeks. The number of earnings downgrades during the past four weeks was 165. That compares with 98 upgrades.

The minutes back up Chair Jerome Powell’s remarks during his post-meeting press conference that the decision to hike rates was broadly supported by his colleagues, with all officials backing such a move. At the same time, the release indicates policymakers were less than fully committed to another move in May.

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For FY23, the wealth management firm reported a consolidated net profit of Rs 169 crore, up 33% from the year-ago period. Total revenue rose 31% to Rs 558 crore.

Revenue from operations rose about 17% year-on-year to Rs 59,162 crore for the quarter under review. The company has also declared a final dividend of Rs 24 per equity share for the financial year 2022-23.

Its clients include large and medium enterprises across sectors such as healthcare and life sciences, supply chain and logistics, banking and financial services, energy, education, and environment.