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The Nifty Bank index closed 0.2 per cent up at 41731.05.

As part of streamlining the provisions for REITs and InvITs, the regulator said the tenure of an auditor will be made till the conclusion of the fifth annual general meeting of unitholders, and a statutory auditor will undertake a limited audit of all the entities or companies whose accounts are to be consolidated.

The stock was last trading at Rs 22.30, up 2.76% from its previous close

Sealmatic mechanical seals are supplied to industry leaders in oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp &, paper, aerospace, marine, and other industries

Promoters held 37.63 per cent stake in the company as of 31-Dec-2022, while FIIs owned 17.28 per cent, DIIs 24.26 per cent.

Shares of Adani Enterprises, which reported a consolidated net profit of Rs 820 crore for the quarter ended December against a net loss of Rs 11.63 crore a year ago, were trading 1.3% higher today at Rs 1,773. The Nifty stock is, however, trading around 58% lower than its 52-week high price of Rs 4,189.55

“Maybe we are in the middle of this good credit cycle and after a couple of quarters can take a relook and look at financials. Within financials, we are looking at sub-sectors which have not done well. Take MFIs. They have been laggards since Covid but now we are seeing green shoots there and valuations are not as expensive. ”

The brokerage maintains Buy on Va Tech Wabag (Va Tech) with an unchanged PT of Rs. 420, considering a robust order pipeline with improving margin profile and attractive valuation.

The stock quoted a 52-week high price of Rs 2242.4 and a 52-week low of Rs 1513.3.

“The highest R&D spends will always happen in biologics because the highest cost of R&D spend is in clinical trials. As we move forward, there are indications that we can shrink the clinical trials to smaller and smaller cohorts as the regulatory agencies and the markets become more mature in terms of biosimilars. We expect the R&D spends to reduce from current levels.”