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“In the last six days, we have seen FIIs buying to the tune of Rs 14,000 crore, In the last two months, the selling intensity has come down. From here on, for the next six to eight months, it has to be a bottom-up approach rather than a top-down approach and look for companies which can probably weather this global storm.”

The brokerage continues to build-in reasonably strong GRMs over FY23E-FY24E for HPCL, coupled with the rising throughput, will be a key driver of earnings. However, the extent of losses in marketing remains too material to be offset by refining. Furthermore, while the brokerage does build-in a substantial narrowing of losses over the rest of FY23E, any delays/hurdles would pose a tangible downside to our already trimmed FY23E earnings.

In the NSE list of stocks with a market cap of over Rs 1,000 crore, six stocks crossed their previous 5-year high value at the close on November 3.

Demand for branded personal care products from high-income consumers has held up. With prices of certain commodities softening, profits for fast-moving consumer goods companies are expected to improve, according to analysts.

“Bata and Relaxo have had some amount of inventory losses because of raw material pressures due to higher raw material prices that have since come down quite significantly. Demand is on the uptrend both for Relaxo as well as for Bata and the other footwear companies. Both Relaxo and Bata stocks have improved but the stock performance does not reflect that. I would hold on or buy at these levels.”

Markets are watching the payroll figures, and "of importance will be average hourly earnings... to see whether the very acute labour market tightness is easing," Tapas Strickland, senior analyst of National Australia Bank, said in a commentary.

The issue is entirely an offer for sale (OFS) of up to 29,373,984 equity shares with a face value of Re 1 each by existing shareholders and promoter group entities.

The company has reserved 50% of shares for qualified institutional buyers, whereas non-institutional investors will get 15% of shares. The remaining 35% of shares have been allocated to the retail bidders.

Revenue for the company nearly tripled to Rs 38,175 crore, against Rs 13,218 crore in the year-ago period. The increase was on account of strong performance by integrated resource management and airport business, the company said.

“Raymond continues to deliver high operating performance along with profitable growth for the 4th consecutive quarter leveraging optimism in the market and improved consumer demand. The focused approach has driven growth over pre-Covid levels and cost consciousness has led to deliver yet another record profitable quarter,” the company said in a release.