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Longer-term profit growth has been in double-digits and one can expect that to return once the near-term headwinds are behind us. Investors can keep track of the companies and any big sell-off from here could be an opportunity to invest selectively.

"Prime Focus is exploring ways for a possible conversion of existing shares of Prime Focus to DNEG and list its subsidiary on Nasdaq for a valuation of $1.5-1.7 billion," said one of the persons cited above. "The company plans to raise around $500 million in DNEG either by SPAC or listing it at NASDAQ."

Meanwhile, oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports.

The SIP AUM share has been consistently expanding since the past few years thanks to consistent inflow of funds. The long-term average share of SIP schemes in the total MF AUM is 11.8%.

The NSE IT index dropped 4.7% to its lowest in two years, while the Nifty fell 0.7%. Analysts are recommending investors to postpone purchases of large-cap IT stocks such as Infosys and TCS, whose valuations are still not considered cheap.

Pimpri Chinchwad, Surat and Prayagraj are the other municipalities seeking to sell bonds. Pimpri Chinchwad Municipal Corporation, which is likely to start its issue in May, could raise about ₹200 crore, sources said. Chennai, on the other hand, could sell bonds worth around ₹300 crore in May or June. The remaining corporations are in the process of finalising the exact quantum of funds to be raised.

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Brokerages such as Bernstein, BNP Paribas, CLSA, and Macquarie maintained their ratings and target price, while HSBC and Investec have raised the target price by 1-2%.

Revenue from operations during the quarter surged 21.2% to Rs 826 crore as against Rs 681 crore in the corresponding quarter of last year. The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 370 crore.

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