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“RBI has authorised TMB for undertaking Government Business on behalf of RBI. Agreement has been signed by the bank with RBI at Mumbai for appointing TMB as an Agency Bank of RBI for undertaking Government Agency Business”, TMB said in a regulatory filing.

The stock quoted a 52-week high of Rs 742.25 and a 52-week low of Rs 455.05.

​After Powell said the Fed could ease the pace of interest rate hikes "as soon as December", traders now see a 91% probability that the Fed will increase rates by 50 basis points in its mid-December policy meeting and see a 9% chance of another 75 basis point hike.

Bombay Burmah Trading Corporation, incorporated in the year 1863, is a Mid Cap company (having a market cap of Rs 7023.94 Crore) operating in Holding Company sector.

The stock with a market capitalisation of more than Rs 2,400 crore hit a fresh high of Rs 3,279 on 28 November 2022. It has more than doubled from its May low of Rs 1,470.

Promoters held 59.4 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 25.16 per cent and 2.75 per cent, respectively.

Overall, the speech can be said to be leaning towards moderation in hawkishness going forward and this has brought a great sense of comfort to markets, IFA Global Research Academy said in a research note.

Offices and schools have opened, which creates an incremental demand for shoes and that benefits the shoe manufacturers, the brokerage said. After growing in metro cities, management has now shifted its focus to tier 2 & 3 cities where management sensed larger growth opportunities.

"In volatile periods in particular, low volatility strategies have proved successful in providing portfolio defence and limiting downside risk by avoiding highly volatile stocks and favouring those that have exhibited more stable performance. Low volatility indices have not only tended to protect investors from steep declines, but also allowed them to participate in the upside."

“Even as recovery in domestic economic activity is yet to become broad-based, protracted global drags, shrinking corporate profitability, demand-curbing monetary policies and diminishing global growth prospects weigh on output,” said Madhavi Arora, lead economist at Emkay Global Financial Services.