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“As for Adani Airports, we are nearly 90% of pre Covid numbers which is a little ahead of schedule that we had forecast in our investment case. We thought that this would be achieved some time in 2023 but we are already there and so that is a good aspect. It is largely driven by the fact that the Indian consumers are doing well, inflation is contained and people are travelling.”

However, the softening commodity prices would help lower prices of its hair and edible oil and drive up market share during the all-important October-December festive quarter, Marico said, adding that it expects gross margins to expand sequentially.

Paints and coatings maker Akzo Nobel India Ltd on Friday reported a 17.41 per cent rise in consolidated net profit at Rs 65.4 crore in the second quarter ended September 30, 2022 on the back of higher revenue. The company had posted a consolidated net profit of Rs 55.7 crore in the same quarter last fiscal, Akzo Nobel India said in a regulatory filing.

"Robust Like-to-Like and consistent e-commerce performance have been key drivers of growth in the quarter. The period also saw an increase in marketing investments post a hiatus of more than 2 years since COVID, as the company reinvigorated its focus towards brand building and strengthening consumer connect," it said.

“Fusion Microfinance have grown very well, their AUM has tripled, revenue has doubled and the net profit growth is very good. But it all has come at the cost of bad assets. The GNPLs have spiked from 1-1.5% to 6.5% in FY22. Couple that with expensive valuations and investors will have to tread very cautiously in this.”

“So after two-and-a-half years of winter in bonds, there is very warm weather out there and one can get a lot of opportunities. Even investors who are not looking to take any risk whatsoever, are now getting near 8% yield if they lock their money for one to three years.”

The STOXX 600 rose 1.1% by 0932 GMT. The European basic resources index surged 4.6% to a seven-week high and was set for its biggest weekly gain in more than three months.

The Hyderabad-based Filatex Fashions is likely to carry out this deal for a consideration of $7.55 million or about Rs 62.33 crore. The company is in the process of reaching certain preliminary understandings for the proposed acquisition.

In China and India, the assets that are invested in risk-bearing financial securities are often put into higher-risk products with high return expectations. Allocation of funds is generally more equity-heavy in these markets, it said. In markets like the US, 60% in equities and 40% in bonds has been the mainstay of financial advice for decades, and it continues to be so in multi-asset funds, Morningstar said.

Global brokerage firm Nomura has set a target of Rs 2,850 on the stock saying that the Q2 numbers were in line and asset quality continued to improve. "HDFC continues to gain market share in core mortgages, despite the increased competitive intensity," Nomura analyst Nilanjan Karfa said.