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Following the earnings announcement, shares of Bharat Rasayan fell 1.3% to Rs 10,326.60 over its previous day’s closing price of Rs 10,466.15 per share. The stock has fallen more than 16% in the last six months, while it has surged nearly 3% in the past one year. On a year-to-date basis, the stock is down nearly 12%.

As many people have told us, the story in many ways really starts now. We like to think of it as a new chapter in our ongoing story and we are very proud to have reached this far and that our shareholders have given us the trust to take them forward into the years ahead, says Global Health CEO Pankaj Sahni.

The Nikkei turned positive after Biden said that the missile that killed two people in Poland was probably not fired from Russia, following an emergency meeting of NATO leaders called to discuss the strike.

“A massive shift is happening globally. Relative outperformance is happening in industrials and that is also happening in India. Sectors like capital goods, infra, corporate facing banks have done very well, in fact all these are at lifetime highs and well beyond. We are going to move away from that pure new age tech stocks and go back to industrials, commodities, manufacturing and supply chains. It is cyclical. ”

The company for the September quarter posted a net loss of Rs 29 crore versus profit-after-tax of Rs 83 crore on a year-on-year (YoY) basis. Revenue of the sugar company during the review period under review came in at Rs 1,113 crore versus Rs 1,214 crore YoY.

“The organised market will grow at close to 15% CAGR in the next four, five years. It is a big growth there and we being one of the leaders in this segment, have grown at 20-21% CAGR in the last three, four years. We have done major expansion in the last two years. We are hopeful that we will do reasonably good business going forward also.”

“There is a tactical pullback in global denominated fintech and consumer tech business. Maybe a 10-15-20% move can be expected in some of the names but core allocation will have to be with largecaps, particularly sectors that have delivered well this year and where there is a growth visibility. That could be banks, auto, cement and the domestic-oriented consumption plays.”

The project, Development of UTF (Uthuru Thila Falhu- Island) Harbour, is a strategic project of the Indian government. The estimated project cost is Rs 1,544.6 crore.

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“We remain selective with OW (overweight) on the banking sector, given it is trading near its 10-year mean NTM P/B, with improving credit growth and stronger and cleaner balance sheets with low FII positioning,” the brokerage said in its report.