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“We believe that we will end FY23 with a topline of around Rs 2,200 crore and EBITDA margin would be about 28%,” said Maulik Patel, chairman and managing director, in an interview with ETMarkets.

This will help lenders in assessing risk of each entity or individual and thus enhance efficiency in lending and significantly increase the market size for credit. Second, Central Data Processing Centre would help in ease of doing business in relation to the Companies Act.

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Later on in the evening hours, global ratings agency S&P Global Ratings downgraded the outlook on Adani Ports and Special Economic Zone and Adani Electricity to “negative” from “stable”, citing that the risks and concerns triggered by Hindenburg Research report have not been factored into its ratings.

We expect residential demand to remain unabated despite further rate hike expectations, as the industry continues to witness long-term pent-up demand and affordability will remain better than the pre-Covid level.

This notion had played a great role in pushing the Greenback sharply lower in the last few months. However, this speculation of incremental differential rates working against the Dollar was sabotaged by the ECB and the BoE as these two Central Banks, as per their respective pressers after their monetary policy decisions, seemed to indicate that even their terminal rates were well in sight.

However, the new saga of Adani group is escalating the ambiguity adding questions on the India growth story. The nation’s largest listed group, which accounted for 7% of India’s total market capitalisation has corrected to 3.7%.

Insurance companies have already started facing the heat of this unforeseen announcement. The proposal is going to have an impact of 10-12% in the top-line of the Life Insurance companies.

While Bitcoin miners, who process and validate data on the blockchain, welcome the invention since it can boost fees for them, critics are concerned an influx of new trading volume may crowd out other financial transactions.

The government hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall taxes on cigarettes. Analysts expect the hike in the duty to give room for ITC to raise prices by about 1-3% across categories, which will subsequently drive its profitability.