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In October, the capital market regulator sharply reduced the face value of debt securities, including non-convertible debentures, issued on a private placement basis to Rs 1,00,000 from Rs 10,00,000, following representations from various market participants.

Hindalco Industries Ltd. is looking to sell a bond for as much as 7 billion rupees ($86 million), according to an exchange filing on Wednesday. If the transaction goes ahead, it would the firm’s first bond sale since 2012, Bloomberg-compiled data show.

“There is a margin improvement for most companies quarter on quarter but the YoY pressure for most companies is still there. My sense is that in Q4, further margin recovery will happen because of the current crude oil prices and other deflation. There is always a lag of two to three months. So, in Q4, further build up in margins will happen.”

Spot gold was up 0.3% at $1,883.48 per ounce, as of 0727 GMT, its highest level since early-May. US gold futures rose 0.5% to $1,885.90

The Nifty Realty index was trading 0.08 per cent down at 424.8.

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The brokerage has recently raised FY23E earnings by 8% for BoB, however, with asset quality risks abating and steady credit growth outlook, there is likelihood of further earnings upgrade.

Promoters held 53.51 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 42.2 per cent and 2.24 per cent, respectively.

Expect lower sales volume QoQ owing to subdued demand until Nov-22. Realisation is likely to be down by Rs2,000/t QoQ. Limited benefit of lower coking coal prices due to DRI route and partial self-sufficiency. Overseas subsidiaries are unlikely to show higher volumes.

Overnight, the tech-heavy Nasdaq led gains for all of the three main U.S. stock indexes, with investors taking cheer after Federal Reserve Chair Jerome Powell refrained from talking about interest rate policy in his first public appearance of 2023.