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On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 57 or 0.11 per cent at Rs 51,326 per 10 grams in a business turnover of 14,427 lots.

“We would like to bring cash cycle below 90 days and we would like to make the full utilisation of funds so that we are able to bring down debtors’ days and also the inventory days to a considerable level. Currently, the inventory days are only the portion which is higher for four to six months but that will continue for important raw materials.”

“We have been guiding generally to say that we have been growing faster than the industry over the last quite a few years and we will continue that growth above the industry rate. That is the kind of rate we are committed to and we have not changed any of that.”

Investors are hoping that any signs of a slowdown in the U.S. employment market could sway the Federal Reserve towards a less aggressive policy path.

The EBP program supports the diversion of sugarcane and surplus sugar towards the manufacturing of ethanol which has now become the key focus point for the future of the sugar industry. The government also releases procurement prices for ethanol to divert sugarcane toward production of ethanol.

"Fast Retailing and other retailers have posted a robust sales for the past month, which is a sign that the economy is normalising," said Ikuo Mitsui, fund manager at Aizawa Securities.

As of 31-Mar-2022, promoters held 38.17 per cent stake in the company, while FIIs held 33.99 per cent and domestic institutional investors had 11.9 per cent.

Ambani – who is now the eighth richest in the world -- replaced Gautam Adani, who slid to the ninth position. Ambani is worth $99.7 billion while Adani is worth $98.7 billion as of Thursday, according to the Bloomberg Billionaires Index

The Relative Strength Index of the stock stood at 45.27 on Friday.

A total of 7,852 shares changed hands on the counter till 01:55PM (IST).