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Pankaj Pandey, Head Research at ICICIdirect.com said that the cost of liquidity will go up and the quantum of liquidity is expected to come down, which will create volatility. Pandey said the RBI would be forced to sort of take rate hikes and that volatility is here to stay.

“One needs to wait for a couple of days and be ready with the money they have taken out or have with them and then invest once there is more clarity.”

Total income fell to Rs 355.59 crore in the third quarter of this fiscal, from Rs 756.81 crore the same time a year ago.

In its latest policy update, the Fed said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases in March.

Majority of the brokerages are positive on Adani Wilmar IPO and have suggested investors to bid for the IPO citing its reasonable valuations, growth plans for the future, robust product line, sound balance sheet and strong parentage.

The drugmaker said its consolidated net profit declined by 16 per cent to Rs 249 crore for the quarter ended December 2021. The company had posted a net profit of Rs 297 crore in the October-December period of 2020-21 fiscal.

“Other than bank stocks, textile stocks like Gokaldas Exports and Vardhman Textiles and rebound stocks like Inox and PVR are looking good to us.”

The rupee weakened against the US dollar on Thursday as the Federal Reserve, late Wednesday, said that it would likely raise interest rates in March in order to tamp down on hardening inflation in the world’s largest economy. Following the US Federal Open Market Committee’s two-day meet which ended Wednesday, Fed Chair Jerome Powell also said that the central bank would seek to wrap up asset purchases by March.

With the Fed ramping up its efforts to tame inflation in the US, domestic traders feel that the central bank could raise interest rates by a greater quantum than was earlier expected, with some fearing a 50-basis-point rise in March itself. In December, the Fed had signalled three rate hikes of 25 bps each in 2022.

The Relative Strength Index of the stock stood at 54.2 on Thursday.