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An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of India, the people said, asking not to be identified as the information is private. The deal would include a cash component of less than $2 billion, accounting for the consumer business’s liabilities, the people said.

Operating profit margins for a sample of 432 companies (excluding banks and financials) contracted 200 basis points year-on-year (Y-o-Y) as raw materials costs jumped 466 basis points Y-o-Y. High costs ate into margins.

“It is better to be safe right now. Be in stocks where you are sure about the earnings; concept stocks and price to sales and some other random multiples can be avoided. We are broadly underweight IT but we would be long on specific stocks where we think there is strong earnings momentum; we have been very long in PSU banks and have upped our exposure. In auto, commercial vehicles make the best bets.”

A $10 move in crude adds about 0.4 per cent to the current account deficit (CAD) and a higher current account deficit impacts the currency, said Aniruddha Naha, Head-Equity, PGIM India Mutual Fund, who believes one has to closely track crude oil prices.

The stock quoted a 52-week high price of Rs 449.8 and low of Rs 231.95.

“Price stability is definitely uppermost in our minds and price stability basically means maintaining and adhering to the inflation target,” Das said at a press conference after the RBI’s central board meeting.

The Relative Strength Index of the stock stood at 37.95 on Monday.

In the last 20 years, Nithin Kamath said he has not seen anyone who has kept profits from trading, without good risk management.

A total of 105,345 shares changed hands on the counter till time (IST).

The IT sector giant had announced buyback of up to 4 crore equity shares spending Rs 18,000 crore. About 15 per cent of the offer is reserved for retail shareholders