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The Nifty Pharma index closed 1.22 per cent up at 12699.4.

There will be no action in equity segment, equity derivative segment and SLB Segment on Wednesday, according to the list of stock market holidays 2022, available on the official BSE website.

“Both palm kernel oil and palm oil have fallen considerably but they are still higher than earlier and this is going to be a big fillip for the Indian palm oil industry. The government’s initiatives in promoting palm oil are excellent and that will help us grow. We are planning to expand considerably in the north-east.”

"Spot gold prices for 24-carat gold in Delhi fell by Rs 66 per 10 grams on sharp rupee appreciation despite steady COMEX prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

“In terms of the outlook going forward, we think the momentum in the second half of FY23 and into FY24, will be on the softer side because of the global headwinds. Nevertheless for FY23, the average real GDP growth is expected to be around 7% or so. Inflation tends to be negative for growth but the pinch in particular is seen in segments where real disposable incomes and savings buffer is less. ”

Since IDBI Bank would be first of its kind with regard to privatisation in the banking sector, we are expecting a lot of investor queries to come in once the Expression of Interest (EoI) is floated. The stake sale is unlikely to conclude this fiscal

“The majority of our portfolio now is very industry oriented and I would call it the fast moving industrial goods (FMIG). We are not seeing any slowdown. We are seeing strong, robust demand from different segments of the market which is coming from end users directly rather than from the OEMs which supply machines and equipment to the end users.”

For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 10067.21 crore, up 14.15 per cent from last quarter total income of Rs 8819.02 crore and up 93.06 per cent from last year same quarter total income of Rs 5214.58 crore.

BofA Securities also maintained a buy rating on RIL with a target of Rs 2,805. The stock closed at Rs 2,596 after the AGM on August 30. The risk-to-reward is in favour at current levels, it said, adding that the focus of the company has shifted more on capex, and there is limited visibility on value unlocking events.

In the day’s trade, the stock hit the upper circuit limit of 5 per cent, also its new 52-week high of Rs 1,230.75. The stock has advanced 15.1 per cent in the past one year. The scrip has given a massive return of over 25,700 per cent in the last three years.