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The price of a stock echoes both the fundamentals as well as the perception (emotions) of the market participants.

Meta CEO Mark Zuckerberg also said that the company would scale back costs and was investing in artificial intelligence tools to improve recommendations and ads, a sign Meta is buckling down to make money while working on its long-term ambitions to build the metaverse.

The global brokerage added that rising inflation and weaker rural sentiment would also make it difficult for telcos to push through another tariff hike in the near-term, saying the next hike would not happen before October.

Interest income was lower at Rs 1,300 crore against Rs 1,670 crore while net interest income stood at Rs 377 crore compared to Rs 593 crore registering a 37% decline.

The Dow Jones Industrial Average rose 124.0 points, or 0.37%, at the open to 33,425.96.

Providing a snapshot of how key macro-economic variables may play out in coming months, Nomura predicts higher inflation, higher terminal rates and fiscal risks on the horizon.

Nomura India said it sees a 1 per cent YoY decline in India operations cement volume on a high base. It sees blended realisation for the cement maker to decline 1 per cent QoQ and standalone blended Ebitda per tonne of Rs 1,053, down 20 per cent YoY.

Elara sees profit rising 35 per cent to Rs 1,584 crore, up 35.8 per cent YoY. It sees sales rising 11.5 per cent YoY to Rs 26,781 crore. Kotak said it expects revenues to increase 12 per cent YoY, led by 13 per cent increase in average selling price (ASPs), thanks to price hikes taken over the last few quarters. It sees 1 per cent decline in volumes due to chip shortage issue in the March quarter.

In the previous trade, the precious metal settled at Rs 51,452 per 10 grams.

TV18 Broadcast plunged 17.70 per cent to Rs 61.85 while Network18 Media & Investments tanked about 20 per cent to Rs 91.30. Both stocks have jumped significantly in the last one year with the latter surging over 100 per cent.