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Aditya Birla Sun Life’s share price dropped to a low of Rs 520 as against Rs 540.65 at previous close on the BSE. The stock was last trading 2.6 per cent lower.

Nirmal Bang Institutional Equities expects HUL to post a volume decline of 4 per cent YoY after seven quarters as it feels that the market growth has softened. It sees a 7.1 per cent YoY growth in sales. This is after including the nutrition business. This brokerage sees profit rising 4.3 per cent YoY to Rs 2,194 crore.

“Bajaj Finance is a great franchise but it is quoting at seven times price to book on an FY23 basis and where growth is not looking good and more importantly, over the next one or two years, there is going to be a compression in margins. Our clear cut takeaway is to move out from Bajaj Finance and move into something like ICICI Bank or AU Bank where one is getting a good franchise at a reasonable valuation.”

Despite weakness in the broader markets, the largest domestic company rallied 2 per cent to Rs 2,827.10 apiece, its new all-time high.

Nomura said companies whose earnings could disappoint the least were Torrent Pharma, Gland Pharma, Zydus Lifesciences and Dr Lal Pathlabs.

“We have not really been able to get insides into the cash flow about the business model of many of the companies and most importantly, why should there be such a high valuations for the companies in the utility space or in the consumer space when you already have incumbent players doing equally good and quoting at a 30-40% discount?”

Harrisons Malayalam Ltd., incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 353.97 Crore) operating in Rubber sector.

The speciality paediatrics chain is eying to raise Rs 1,580.85 crore via its initial stake sale wherein the company is selling its shares in the range of Rs Rs 516-542 apiece.

The stock had listed at a near 6 per cent discount to its IPO price of Rs 848.80 in December last year and is currently down 32 per cent from the issue price. Rakesh Jhunjhunwala and his wife Rekha together hold 10,07,53,935 company shares or a 17.50 per cent stake in the company.

A total of 3,035 shares changed hands on the counter till 12:02PM (IST)