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The Dow Jones Industrial Average rose 215 points, or about 0.7%. The S&P 500 added 0.6%, and the Nasdaq Composite rose 0.7%.

Revenues jumped 26% year-on-year (YoY) to Rs 408 crore during Q1FY23, compared to Rs 323 crore.The earnings before interest, tax, depreciation and ammortization (EBITDA) rose 41% YoY to Rs 72.2 crore. The EBITDA margins improved 180 basis points YoY to 17.7%Overall ARPOB rose 5.9% YoY to Rs. 38,454 in Q1FY2

“If India has to grow, financial services has to grow. If we take 7-8% as the real growth rate and add inflation to it, it would be 12-13% and normally credit grows at least 1.5 times that. So to get any industry or any business where 16% to 18% should be the annual growth rate is a good industry to be in.”

"If we draw a trendline connecting the October 2021 high and subsequent highs, the Nifty50 is now steadily approaching the resistance zone of 17,900-18,000. This is a make or a break range for the Nifty50. If the index fails to move beyond 18,000, we could see a serious decline coming in," said independent analyst Manish Shah.

The earnings rose as the company got USD 112.72 per barrel price for crude oil it sold in the quarter as opposed to USD 67.15 a barrel rate realised in the same period last year. Gas price realisation more than doubled to USD 6.1 per million British thermal unit from USD 1.79.

"A direct outcome of the continued focus on key thrust areas of franchise & MBO expansion, consumer relevant communication, portfolio casualisation and digital footprint expansion was reflected in the quarterly sales reaching a lifetime high," Bata India said its earnings statement.

"Given the slowing global growth and recessionary concerns around the corner we expect earnings cut to continue. However, we believe earnings cut could moderate as the key risks highlighted above are showing signs of moderation," it said.

The Nifty Realty index was trading 1.26 per cent up at 440.3.

“In 1980 when President Reagan allowed 401K plans to invest in equities, we saw a 20-year bull run in America led by domestic flows. In 2015, the set the stage for a similar 20-year bull run in India led by domestic flows. Systematic investing and investing from retirement funds is here to stay.”

In the international market, gold was quoting lower at USD 1,787 per ounce while silver was flat at USD 20.45 per ounce."Gold prices retreated after soft US inflation data and eased recession worries," said Tapan Patel, Senior Analys