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Institutional equities revenue during the quarter fell 17 per cent Rs 48.6 crore, primarily due to slowdown in market volumes and decline in capital market deals.Distribution business continues to scale well as revenue stood at Rs 152 crore, up 28 per cent compared to the year-ago period on the back of strong performance from mutual funds, insurance and other products.

The ECB raised its benchmark deposit rate to 0%, breaking its own guidance for a 25 basis point move as it joined global peers in jacking up borrowing costs.

The company explained that the quarter witnessed the rising cost of commodities and supply chain bottlenecks, creating a drag on margins.

There will be no tailwind for the rupee and it may plumb further in the medium term, given the pressure on the Current Account Deficit (CAD). This will be due to rising trade gaps and the massive sell-off by foreign funds.Foreign funds have pulled out investments worth USD 29 billion or 4.4 per cent of their India holdings since the beginning of the year.

Tesla shares jumped 4% after the automaker reported stronger-than-expected earnings but shrinking automotive gross margins.

The momentum readings on the lower time frame chart have reached the overbought zone and, the 50 percent retracement resistance on the daily chart is seen around 16,650, said Ruchit Jain of 5paisa.com.

The company is setting up a greenfield project in Chennai which is expected to be commissioned by the third quarter of this fiscal. The plant will have a capacity of 1,47,000 tonnes of carbon black and produce 24 MW of green power.Another 40,000 MTPA brownfield project at Mundra in Gujarat, is also under execution in two phases. The first phase is expected to be operational by the end of the current fiscal, the PCBL said.

“With raw materials prices coming back to normal hopefully in the coming months, the margins should go up and lead to profitability in Lloyd. We are looking at Lloyd as a long-term investment. Even in this quarter, most of the EBIT loss is contributed by the fact that we had a high amount of advertising and our focus will continue to remain on distribution and brand building.”

Its revenue from operations rose to Rs 981.40 crore in comparison to a lower base of Rs 59.39 crore in the corresponding quarter last fiscal, when the screening business was disrupted due to the second wave of the coronavirus pandemic.

“Our ticket pricing is up 23% compared to pre-pandemic levels. But if one were to break it down, cinemas have been shut for two years. We have really caught up on inflation. The line-up of films that we are seeing and the demand that we are seeing at theatres, make us extremely confident that we will be able to sustain these levels of ticket pricing growth at our cinemas.”