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Dalmia Bharat key Products/Revenue Segments include Income From Management Services for the year ending 31-Mar-2022.

"On the company side, we have heard statements and assurance that they have returned the FPO money. They would be repaying a lot of debt backed by shares pledged. So that risk is getting off. But the key question remains what about the growth capex that they were looking at? So while we do not have an official coverage on the Adani Group, the issue could continue for a long while."

“We like TVS for the way they have changed capital allocation. There is a premiumisation playing out. Their average selling price has been steadily moving up with a nice product mix and very calibrated price hikes. That is one thing we like in the two-wheelers but first preference is more four-wheeler OEMs and some of the auto-ancillaries like UNO Minda.”

Surpassed crucial resistance of its 50 days EMA,placed at Rs 318. RSI has exited the oversold zone.

The joint venture between Adani and TotalEnergies SE has planned for almost 150 billion rupees ($1.8 billion) of capital spending over the next seven years to fund new growth, Manglani said. Already the company has the ability to distribute natural gas to about 14% of India’s population.

However, gasoline and distillate inventories rose more than expected, with gasoline stocks up by about 5.3 million barrels and distillate stocks, which include diesel and heating oil, up by about 1.1 million barrels.

The Reserve Bank of Australia on Tuesday raised its cash rate by 25 basis points, as expected, but reiterated that further increases would be needed, indicating a more hawkish policy tilt than many had expected.

In the currency market, the dollar pulled back a bit after the speech. The dollar index, which measures the U.S. currency against six major rivals, was at 103.30, having dropped to as low as 102.99 in the previous session.

The only caution sign is that volumes are gradually decreasing with every new up move which suggests the trend might be weakening, but we must wait for price confirmation which is still not there.

According to industry observers, the decision to undertake an independent assessment augurs well to reassure investors, especially equity investors, who have borne the major brunt in the saga and have witnessed steep wealth erosion.