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“When the tide is up, all boats rise and for the banking sector and for the finance sector, the tide is coming almost three years after the IL&FS fiasco happened. It has taken three-four years for the system to clean up, over leverage to go down and most banks to get their capital back. This is just the start of the whole rally. The tide is strong and there is demand in the sector. The rerating should continue.”

"All the items included in the lists will be procured from indigenous sources as per provisions given in Defence Acquisition Procedure (DAP) 2020. This list provides continuous impetus towards self-reliance in defence," MoD said in a release on Wednesday.

The tapering is happening in the US, but the tantrums are certainly not visible in India. It is because we were well prepared and fully vaccinated against the cold. The government has proactively handled the economy through accumulation and utilisation of FX reserves, inflation control and policy interventions. India is not only healthy, but we are enjoying bright sunshine. The perception about India is visibly changing!

Our Cross-Border business also showed steady growth on a YoY basis despite a global slowdown and a decline in yields for both air and ocean freight. As inflationary pressures and service disruptions due to monsoon ease across the country, we expect improvement in volumes, revenue and service margins going forward,” it added.

The stock traded at a P/E multiple of 100.26, while the price-to-book value ratio stood at 19.49.

The Nifty company also announced a capex of Rs 6,750 crore over the next 3-4 years with the primary objective of becoming a more cost-efficient producer that allows it flexibility to price more competitively. Analysts said the company management’s message is clear—prioritize market share gains/defense over margins and return ratios.

The US rate hikes have caused the yen to slide to its lowest level against the dollar in over three decades, while the Bank of Japan sticks to its longstanding monetary easing policies.

Promoters held 0.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 37.27 per cent and 32.58 per cent, respectively.

Among individual stocks, French media company Vivendi reported an uptick in quarterly revenue and confirmed it was still planning to spin off its publishing business Editis. Its shares were down 2%.

Overall, Indian equities have outperformed global markets significantly in Samvat 2078 and the outperformance is expected to continue in Samvat 2079, driven by strong recovery in the Indian economy and domestic liquidity, offsetting FPI (Foreign Portfolio Investors) outflows, Manish Jeloka, Co-head of Products & Solutions, Sanctum Wealth, said.