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The company was originally incorporated as “Gautam Gems Private Limited” on February 18, 2014. It has been principally incorporated as a manufacturer and trader of rough and polished diamonds. It sells diamonds of multiple categories, shapes, cut, sizes and colors.

India’s valuation premium to Asian peers has come off the peak but remains well above historical average. “Since 2015, as interest rates moderated, we have seen a large P/E expansion in the Indian market and we think some more time correction is likely.

Adani Enterprises filed an offer letter with stock exchanges on Monday for a proposed Rs 20,000 crore follow-on public offer (FPO). For more such web stories click on the ET icon below

The main monitorable on that front would be the Fed pivot. Covid19 which was a part of almost all conversations in the early part of last year, is again being talked about as reviving, but hopefully doesn’t look that ominous and hence unlikely to cause serious havoc. From an India standpoint, 2023 would also be the year where we could witness few long stuck structural reforms as it’s the last year before the big 2024 General Elections. The Make in India and Atmanirbhar campaigns could see a further push.

On the technical charts, the 200-day moving average of the stock stood at Rs 956.39.

Asset quality improved further during the quarter as gross non-performing assets as a percentage of total loans was down to 2.06% from 2.48% a year ago and 2.11% a quarter ago.

The real estate sector plays a crucial role in driving economic growth. It not only accounts for around 7% of the annual GDP but also provides employment for over 50 million people.

The company is in the right place at the right time and with the right products. The trend has just started. I am confident that Atul Auto has made India’s Tesla in three-wheelers,” said the investor, who is also a director in the company.

The stock quoted a 52-week high of Rs 298.0 and a 52-week low of Rs 190.0.

The sequential growth in earnings will be largely driven by the oil-to-chemicals (O2C) business due to the benefits from the removal of SEZ export tax and the E&P business, as higher prices flow through from October, the global investment bank said.