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The Nifty Pharma index closed 1.18 per cent down at 12341.9.

“Asian Paints we expect about 31% kind of a revenue growth on a YoY basis. But if you normalise on a three-year basis, it prints normal growth of about 13 odd percent and largely driven by realisation, volume growth is expected in single digits.”

Marquee investor Dolly Khanna remained busy shopping as she clinched as many as half a dozen new shares, including a few multibaggers.She picked up 48.7 lakh shares or a 3.3 per cent stake in Chennai Petrochem worth Rs 139.2 crore, whereas 18.8 lakh shares or 1.1 per cent stake in Manali Petrochem worth Rs 19.6 crore.

Investors were in a wait-and-watch mode on Tuesday as the Federal Reserve will commence its two-day policy meeting. Traders braced for an expected 75 basis points rate rise on Wednesday, part of the campaign to tackle rising inflation.

“Our feeling is that June 2022 quarterly earnings will be little below market expectations, it will be driven by inflation hitting the margin. However, what is more critical is the guidance going forward and surprisingly despite all the uncertainty companies are giving reasonably positive guidance.”

The social stock exchange is a novel concept in India and such a bourse is meant to serve the private and non-profit sectors by channelling greater capital to them. The idea of SSE was first floated by Finance Minister Nirmala Sitharaman in her Budget Speech 2019-20.

“Green energy definitely would mean a big amount of growth coming in because I think it could have a large amount of fuel to be pledged and that is where probably one could possibly see a significantly large amount of growth coming for sure, undoubtedly.”

In the international market, gold was quoting lower at USD 1,727 per ounce while silver was flat at USD 18.64 per ounce.

The stock quoted a 52-week high price of Rs 974.0 and low of Rs 503.4.

Total revenue from operations decreased to Rs 800.1 crore for the quarter ended June 2022 as against Rs 3,206 crore in June 2021, down by 75 per cent YoY.EBITDA for the quarter was lower by 23.1 per cent YoY at Rs 130.7 crore.