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Zomato had posted a loss of Rs 63 crore a year ago and Rs 251 crore a quarter ago

The worst seems to be getting over for the beaten-down fintech Paytm shares. The stock has rallied over 30% in just 4 sessions as the firm showed signs of turning profitable earlier than what the Street was pencilling in.

This kind of rangebound day is expected when, on one hand, you expect the central bank to be there and on the other hand, you have the usual dollar demand, the dealer added

Revenue from operations rose 27% year-on-year (YoY) to Rs 1,185 crore for the quarter under review. It was Rs 931 crore in the same quarter last year.

Indian equity markets traded close to the flatline in the day, but ended marginally higher amid mixed global cues, with gains led by IT and financials. The BSE Sensex climbed 142 points to end at 60,806.22, while Nifty advanced 21.75 points to 17,893.45.

For the quarter ended December 2022, the company posted a net profit of Rs 3.85 crore against a net loss of Rs 8.81 crore for the same period in FY22. Its total income for Q3FY23 stood at Rs 133.11 crore compared to Rs 102.84 crore during the period ended December 31, 2022

At the end of 2022, the Norwegian fund held shares in Adani Green Energy worth $52.7 million, a stake in Adani Total Gas worth $83.6 million and ownership in Adani Ports & Special Economic Zone worth $63.4 million.

"We remain structurally positive on Indian telecom and Bharti given the consolidation in the sector, which may lead to regular tariff hikes. Maintain buy at SOTP-based PT of Rs 1,009 (Rs 1,039 earlier) as we increase lease debt, but increase India mobile multiple to 8.5x (7.8x earlier)," Prabhudas said.

Citing the impact from restructuring charges and its exit from non-core businesses, Credit Suisse said in a statement that it .would also expect the group to report a substantial loss before taxes in 2023

“Novelis is definitely impacted by the destocking in the beverage can segment and the management has pointed out that this impact is likely to continue for maybe two to three quarters more. So the stock will be fairly muted for some period of time. We will await a better entry point.”