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“I would think that 16,000 odd would be the number where the market could go if it has to correct now, but definitely not around that 15000. I would think that it is definitely an outstanding opportunity to buy. So if we get this correction now, it would be closer to 16,200 from where the market should bounce back.”

Revenue from operations was up 60.11 per cent at Rs 3,101.11 crore during the quarter under review as against Rs 1,936.79 crore in the year-ago period, Pidilite Industries said in a regulatory filing."The current quarter recorded robust revenue growth, a combination of higher volumes and measured price increases," said an earning statement of Pidilite Industries.

The Nifty Auto index closed 0.18 per cent up at 12951.65.

“The sum of all that we are doing is beginning to reflect in the EBITDA margins that are coming up on the consolidated level. We have hotels in London and Cape Town and San Francisco and New York and there it is very difficult to drive such high margins as one is able to do in the Indian subcontinent. We are very pleased with the new businesses as they are high margin businesses.”

The drug firm had reported a net loss of Rs 11 crore in the April-June period of last fiscal.Total income for the period under review stood at Rs 317 crore as compared with Rs 314 crore in the year-ago period, Unichem Laboratories said in a regulatory filing.

Net revenue during the period under review rose to Rs 1,393 crore as compared with Rs 1,322 crore in the April-June quarter of the last fiscal."Q1 FY23 performance reflects normalisation of revenues and operating EBITDA post Omicron wave in the previous quarter," Max Healthcare Institute Chairman and MD Abhay Soi said in a statement.

“There was a total of 1,000 bps increase in raw material pricing, out of which, we could mitigate around 8-8.5%. Of that, 4% could be from direct distribution by reducing the channel margin. We had increased the price by 3-3.5% and almost 8% is coming on two accounts – direct distribution and passing on the price to the consumer. ”

The benchmark indices declined 35.78 points to end at 58,817.29. Its broader peer, Nifty50, also failed to close above the 17,550 mark.

“The price of spot gas is a global phenomenon. The prices are going up because of geopolitical issues and are likely to pose a challenge to us for the next 1-2 quarters. We will sail through these two-three quarters. Our margins will not be as high as they were this quarter but we still hope to be profitable at the end of this financial year.”

The firm had posted a profit of Rs 2,787 crore in the corresponding quarter last year.