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Investors also followed developments around the looming energy crisis in Europe. European Union energy ministers on Friday tasked Brussels with drafting proposals within a few days to cap the revenues of non-gas energy producers and help power firms stay afloat.​

“We are always trying to maintain the EBITDA margin at 16-17%. We have seen a good drop in the EBITDA margin in the first quarter because of the prices of the raw materials coming down and we had a good stock as well and we could not hike the prices of our final products which were expected to be done by June 15. But now we are hopeful of maintaining this guidance of 16% to 17% EBITDA by the end of this year.”

Between 2003 and 2007, a different breed of investors romanticised individual stocks in the capital goods complex (the index was up nineteen times during that period). However, when the sector peaked in 2008, it took eleven years for the index to come back to the same level. That breed of investors is probably now extinct.

The correction in crude prices was on account of a possible recessionary scenario in the west, weak economic data from China (world’s second largest oil consumer), coupled with anticipated interest rate hikes, hinting at lower fuel demand ahead.

Hindustan Aeronautics, incorporated in the year 1963, is a largecap company operating in the Defence sector. The company’s key products/revenue segments include the sale of services, engineering goods, spares and others, development projects, miscellaneous and other operating revenue for the year ending 31 March 2022.

“It is quite clear that only a fortune teller can forecast whether the market will be 5% higher three months from now or not. For us, the game is very clear; if you have money for three to five years, this is as good a time as any to invest in markets, if you have shorter time frames, I think you need to be probably much more wary.”

“We will have some great numbers for September. Whether it will be in line with Q1 is a bit early to say but looking at the trend of July and August, it may not be so. We are in the last two or three slog overs and we have three weeks to go for this quarter to finish and let us see how Brahmastra performs. Also Avatar is being released again and we have got Vikram Vedha.”

Kotak Institutional Equities, which sees arm listings in the next 2-3 years, said this is among issues that the group will have to grapple with over the next 1-2 years as it prepares to list its retailing and telecommunications subsidiaries and induct members of the third generation of the founding family into more prominent roles in the group.

Adani Group is likely to infuse more funds into DB Realty, which would result in a fresh equity issuance to new investors. Earlier, DB Realty was in talks with Godrej Properties, which could not produce fruitful results.The real estate firm has a portfolio comprising over 100 million square feet and 628 acres of prime property, mostly in Mumbai. Also, the company tied up with Adani GoodHomes in various projects

The 30-share Sensex advanced 322 points to end at 60,115.13. This is the first time the index closed above 60,000 since August 18. Its broader peer, Nifty50, ended at 17,936.35, up 103 points.