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“We find Abans being one of the beneficiaries of the government reforms," said the brokerage. "Moreover, despite the shocks in the past such as the pandemic and current geopolitical situation, Abans Holding was able to grow at PAT levels in the last two years." The company operates in a highly competitive environment and a crowded space where there is little differentiation in terms of product offerings.

Colgate-Palmolive (India), incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 43059.41 Crore) operating in FMCG sector.

In a regulatory filing, the company said that the company has received approval from a US company to buy a mass quantity of flanges, forged fittings and other components.

Later, MCX informed that it is in process of modifying the cotton contract specification and no fresh position would be permitted in cotton January 2023 contracts and the subsequent expiry contracts till such time the revised contract specification gets finalised.

“The reason we think next year is going to be worse than this year is because that is when we really see the consequences of all the monetary policy tightening that has happened around the world because as we know empirically it affects it with the lag and we will see that happening next year; but there is still a lot of uncertainty.”

The board of directors of the company, at its meeting held on November 2, 2022, had approved a proposal of the buyback of fully paid-up equity shares of the company through the tender offer route, at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 190 crore.

According to the data from BSE, investors made bids for 20,21,184 equity shares or only 23% compared to the 80,41,805 equity shares on offfer by 12.40 pm on Wednesday, December 14.

The Federal Open Market Committee is widely expected to raise rates by 50 basis points and bring its benchmark target rate to a range of 4.25% to 4.5%, the highest since 2007. Fresh quarterly economic projections released after the meeting will also shed light on how much further policymakers expect rates to go.

A total of 10,655 shares changed hands on the counter till 01:45PM (IST)

In its report, Morgan Stanley said YES Bank is moving in the right direction post 2020 NPA crisis. It stated that the bank has focused on reducing asset quality challenges by accelerating provisions and cleaning up its balance sheet organically as well as via asset sales. It expects gross impaired loans to fall to 9% by end of FY23 from a peak of 22% in March 2020.