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Mulye, a career banker with three decades of experience behind her, will join her new role on June 1 as CEO designate, Aditya Birla Group announced late Saturday

In the upcoming week, markets will keenly watch the Q4 earnings of India Inc along with the expiry of April series derivatives. On the global front, war crises, crude oil and Covid-19 will be the major factors to watch out for.

"Much as we like to complain about the ugliness and anger that we see on social media, it is exactly those forces that draw users to it, and arguing that Elon Musk will make it worse, misses the point that he symbolizes the strengths and weaknesses of the Twitter platform better than any other person walking the face of the earth," says Damodaran.

The Hyderabad-based tech solutions player reported a 50 per cent rise in the net profit to Rs 154.2 crore for the quarter ended March 31, 2022, compared to a profit of Rs 103.1 crore.

Net interest income rose 21% over last year to Rs 12,605 crore from Rs 10,431 crore. The net interest margin rose at 4%. The gross non-performing asset (NPA) ratio was at 3. 60%, down 136 basis points over the same period last year. The net NPA ratio declined to 0. 76% from 1. 14%. Additions to gross NPAs stood at Rs 4,204 crore while recoveries, upgrades and the sale of bad loans rose to Rs 4,693 crore.

“We anticipate input pressure in the next two quarters and it will be seen across the board – from automobiles to FMCG, consumer durables or even pharmaceuticals. As a result, at least in the next two quarters, there should be a hit on margins and also may be a miss on expectations.”

The energy space is witnessing strong traction for the last few weeks. The same is evident from the Nifty Energy index, as it is rallying along with the expanding daily & weekly upper Bollinger Bands. We expect this sector to stay on an upward trajectory. The IT sector, on the other hand, had a sharp decline in the last 2-3 weeks.

“Today we are a $25-billion company. There are many companies in the world which are $50 billion, $100 billion in size. So there is no reason why we should not aspire to be double, triple, quadruple times where we are today. The question is how should we go about it? The opportunity is unbounded both on the demand side and on the supply side. We are sitting in a sweet spot.”

Insurance behemoth’s board approves proposal. The company is likely to be valued at Rs 6 lakh crore and a 3. 5% dilution will mean an offer size of Rs 21,000 crore. Earlier estimates had pegged the IPO issue size at Rs 60,000-63,000 crore. However, with markets turning choppy, there is a sense that a bigger issue would be difficult to sell.

The upsides, if any, are likely to stay capped at 17,500 levels. On the lower side, violating 17,000 would mean some incremental weakness for the markets. The levels of 17,350 and 17,535 will act as immediate resistance points for Nifty. Supports are likely to come in at 17,000 and 16,880 levels.