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Total revenue from operations during the quarter under review was Rs 4,468.42 crore as against Rs 3,884.94 crore in the year-ago period.Total expenses were at Rs 4,221.74 crore as compared with Rs 3,175.47 crore earlier.

Lunolux acquired 1.68 crore equity shares of Eureka Forbes constituting 8.7 per cent of the equity share capital of Eureka Forbes from Shapoorji Pallonji and Company on July 12, 2022, said a regulatory update by the manufacturer of the vacuum cleaner and water purifier.

“As on March 31, 2022, the IEV (Indian embedded value) of LIC of India has been determined to be Rs 5,41,492 crore as compared to Rs 95,605 crore on March 31, 2021, and Rs 5,39,686 crore on September 30, 2021. The IEV as of September 30, 2021, was significantly higher than the IEV of March 2021 due to the bifurcation of funds that was carried out by LIC pursuant to changes in the LIC Act during the FY 2021-22,” LIC said in a statement.

​"As Nifty50 has approached its key 20-day moving average, whose value is placed around 15800, some buying support may emerge as the index is already down for the last four trading sessions. In that scenario, the bulls can make a pullback attempt, but strength shall not be expected unless it closes above 16,070. A close below 15,800 can confirm.

“We are very confident of H1 and we are cautiously optimistic as far as the H2 is concerned but I do not think there is any immediate significant red flag at this point of time. So overall we feel that we should continue on the trajectory of profitable growth as we have always been calling out. ”

Indian Investors continued to be net buyers with buy volume 2X of sell volumes during the quarter. Top stock picks include Tesla, Amazon, Apple, Microsoft, Google, Facebook, and Twitter.

"The government’s 15% export duty on pig iron and steel meant we had to pay roughly Rs 10,000 per ton and between 22nd of May and June if we sold about 40,000 tons, that took out Rs 40 crore from the EBITDA. Also, we had all our shutdowns in Q1 and that took out another Rs 30 crore odd. We had an impact of about Rs 70 crore. It is a one-off thing and would not normally have happened.”

The Nifty Auto index closed 0.13 per cent up at 12115.3.

The estimated cost of the project is Rs 2,600 crore, the company said. The estimated date of commissioning the project is 24 months from the date of execution of the PPA, Torrent Power said. The term of the PPA is 25 years from the scheduled commercial operation date at a tariff of 2.94 per kWh (kilowatt hour).

“For India, both goods and services are doing quite well. There is a pent-up demand in a lot of things. In general, we are playing the consumer discretionary stocks which are now benefiting from decent demand and easing in commodity price pressures. However, I don’t think the margin improvement in discretionary, auto, etc, will show up immediately.”