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Nomura India said it sees a 1 per cent YoY decline in India operations cement volume on a high base. It sees blended realisation for the cement maker to decline 1 per cent QoQ and standalone blended Ebitda per tonne of Rs 1,053, down 20 per cent YoY.

Elara sees profit rising 35 per cent to Rs 1,584 crore, up 35.8 per cent YoY. It sees sales rising 11.5 per cent YoY to Rs 26,781 crore. Kotak said it expects revenues to increase 12 per cent YoY, led by 13 per cent increase in average selling price (ASPs), thanks to price hikes taken over the last few quarters. It sees 1 per cent decline in volumes due to chip shortage issue in the March quarter.

In the previous trade, the precious metal settled at Rs 51,452 per 10 grams.

TV18 Broadcast plunged 17.70 per cent to Rs 61.85 while Network18 Media & Investments tanked about 20 per cent to Rs 91.30. Both stocks have jumped significantly in the last one year with the latter surging over 100 per cent.

As announced in the union budget 2022, the Indian government is levying 30 per cent taxations on the gains arising from the trade of crypto assets. Many of the market players saw this move as an anti crypto stance.

At the interbank forex market, the rupee opened at 76.60 against the greenback and moved in a range of 76.43 to 76.71 in the day trade. It finally closed at 76.53, registering a rise of just 4 paise over its previous close of 76.57.

“We have moved from a quality growth kind of a market to more of a value market. If one looks at what is happening to stocks which were considered value, cyclicals are the spaces to be in, in my opinion for the next year, year-and-a-half. So engineering, capital goods, autos, cement, power are the places that look very interesting right now.”

"As of now, we expect a move to happen in the northward direction where 17,400-17,450 are the levels to watch out for. The moment we surpass this, we could see a lot of individual stocks participating in the next leg of the rally," said Sameet Chavan at Angel One.

The private lender said its net interest income (NII) for the quarter grew 17 per cent YoY to Rs 8,819 crore. Net interest margin (NIM) for the quarter came in at 3.49 per cent.

“We need to trend not just ahead of what we did in 2019, we should look at 2019 plus 20% for the hotel industry in general and also Indian Hotels in particular going forward. That should be our extended goal or benchmark in light of the inflation that is coming in.”