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Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5296.88 Crore) operating in Shipping sector.

When rupee fell to a record low in October 2022, the USD/INR 3-month rate on NDF was about 40 paisa higher than onshore. This fuelled more demand for dollars onshore, adding pressure on the rupee.

Cigarette volume growth to remain stable, it said adding that at the industry level, the cigarette volumes have surpassed the pre-covid levels and ITC is gaining lost market share from its peers.

The stock is currently trading at attractive valuations of 44.1x/37.5x its FY2024E/FY2025E earnings.

The fixed deposits did not have any such benefit of indexation. So, to that extent, it has just levelized the field and hopefully some of the HNI funds which were going into debt mutual funds might now come to the banks.

Banking gauge Nifty Bank was trading with 125 points or 0.31% gains at 41,124 with 10 out of 12 index stocks in the green. SBI, Punjab National Bank (PNB) and Bank of Baroda (BoB) were the top gainers while ICICI Bank and Axis Bank turned out to be the laggards.

Promoters held 0 per cent stake in the company as of 31-Dec-2022, while FIIs owned 45.11 per cent, DIIs 44.09 per cent.

Further in the list are chemicals and information technology companies. While 11 stocks are trading above average in the chemicals sector, 13 stocks are in the technology sector.

The policy outcome came out as a double positive for the equity market, and it would not be unreasonable to say that this could very well be the end of the rate hike cycle, according to Apurva Sheth, head of market perspective and research, SAMCO Securities.

Alkem stock price largely moved in a range from May 2022 where Rs 3,300-3,400 acted as a stiff resistance while on the downside Rs 2,800 acted as a crucial support on the weekly charts.