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“However, HMCL intends to move down the price ladder and capture other price points with future product offerings. The company also expects higher localisation (over 50% currently) over the next 2-3 years and optimization of industry cost structure for EVs which will help offer products at lower price points,” added the report.

"We expect the bank to continue its journey moving forward to further augment its ROA/ROE by leveraging powerful unit economics, incremental retail lending business at an ROE of 18-20%, improving branch productivity with normalized cost-to-income ratio and scaling up its fee income from new business launches like Wealth, FASTag, credit card, CMS, among others.

As part of the rights issue, the company will issue of 240 crore partly paid-up equity shares of face value of Rs 2 each for cash at a price of Rs 5 per rights equity share (including a premium of Rs 3 per rights equity share) aggregating up to Rs 1,200 crore on a rights basis to the eligible equity shareholders of the company

The board approved to issue up to 58,08,080 fully convertible warrants at Rs 198 per share, each convertible into, or exchangeable, at an option of the proposed allottee, within a maximum period of 18 months from the date of allotment, the company said in a BSE filing.

As per the filing with the exchanges, “the second interim dividend, if declared, shall be paid to the equity shareholders of the company whose names appear on the Register of Members of the Company or in the records of the depositories as beneficial owners of the shares as on Tuesday, October 18, 2022, which is the record date fixed for this purpose.”

"We are down actually 14%. The S&P 500 is down 23%, the Dow is 24% and NASDAQ is 31%. So, to that extent, it does appear that we have to some extent decoupled"

The number of loans disbursed grew 224 per cent on a year-on-year (YoY) basis to 9.2 million in the September 2022 quarter, whereas the value of loans grew 482 per cent to Rs 7,313 crore ($894 million), the company said in an exchange filing.

"The strong US jobs data intensified concerns that the US Federal Reserve will be more aggressive with interest rate hikes. Rising rates make gold less attractive as an investment mean," said Dilip Parmar, Research Analyst at HDFC Securities.

The stock quoted a 52-week high price of Rs 298.0 and a 52-week low of Rs 175.0.

The stock quoted a 52-week high price of Rs 298.0 and a 52-week low of Rs 175.0.