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While taxation of tobacco is primarily under the purview of the GST Council, the central government also levies a National Calamity Contingent Duty (NCCD) on cigarettes, which is subject to changes in the Budget.

PSP Projects, incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 2527.56 Crore) operating in Construction sector.

Laurus Labs said revenue from its Synthesis and active pharmaceutical ingredients (API) businesses, each of which account for more than 40% of total revenue, rose 210% and 49%, respectively, in the latest quarter.

“If we look at the Quant Fear Index, in the last two or three days, when this fall unfolded in a big way, it did not spike up to that extent to say reversal. It can settle down in the next few trading sessions. We are closer to that event which means the downside may not be very significant from the current levels.”

Further, rising input RM/PM could weigh high on margins in Q4 in our view. Considering weaker Q3, the brokerage slashes its earnings and retain BUY rating, with a revised DCF-based TP Rs4,026 (implying 18.3x avg. FY24E/FY25E EPS).

On the technical charts, the RSI of the stock stood at 27.5.

Key questions for Fed Chair Jerome Powell at his post-meeting press conference will be how much higher the central bank intends to raise rates, and what officials need to see before pausing.

Breakdown from a Bearish Flag and Pole pattern,indicating that bears have been tightening their grip.

The stock traded at a P/E multiple of 45.18, while the price-to-book value ratio stood at 2.96.

Underperformed Nifty and recently has breachedthe crucial level of Rs 860 giving a fresh breakdown.