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"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

Its net revenue grew 20 per cent YoY to Rs 17,875 crore, aided by healthy other income and NIM (net interest margin) expansion. This is the fastest net revenue growth reported by a large private bank in Q1 so far.

Morgan Stanley said that the adjusted Ebitda loss was lower than estimates while the revenue was 10 per cent ahead of it. Contribution in Q1 was 75 per cent ahead, it said, adding that there was a clear pivot in commentary on profitability. The foreign brokerage said that this was the first time when the management gave guidance on profitability.

“We are very watchful about the global environment. Even in the last quarter, we were specific about calling out a couple of areas like mortgage and retail. We see that globally there are some pockets where we can see this impact but for us, the overall demand today is where we have been able to increase our guidance.”

Hindalco said its results were driven by better macros, robust performance of aluminium downstream and copper businesses along with better operating efficiencies.

However, Yes Securities also expects the power cost to remain elevated in H1FY23 and will continue to pose challenges, but gradual moderation is expected from H2FY23 onwards. Most of the new capacities for the sector will be commissioned in the Eastern region, hence cement prices & demand sustenance will be the key monitorable.