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The ED said it had conducted searches at several premises linked to the company, Yellow Tune Technologies Pvt. Ltd, over three days starting August 8.

"On the back of the developments mentioned above at the Bacheli mine, Kumaraswamy mine and other mines, we target production of 460 lakh tonnes of iron ore in FY23. This volume is about 10 per cent higher than in FY22 and would provide a cushion against possible pressure on pricing and we hope to maintain and surpass the top line again in FY23," NMDC Chairman and MD Sumit Deb said.

Currently, India is positioned as the third largest military spender in the world. The defence needs are largely being serviced by imports. In order to advance and support the domestic defence industries, our defence budget is consistently rising in absolute terms and also as a percentage of GDP.

"At the aggregate index level, a month back market was lucrative with respect to valuations. After a recent rally, it has come to a neutral zone, which still is a good entry point for investors with an 18-24 months horizon."

The crypto market plunged in May and June as worries about high inflation and Federal Reserve interest rate hikes prompted investors to ditch risky assets. Following the collapse of a major pair of tokens, some cryptocurrency lenders froze customer withdrawals, and several crypto firms have cut jobs.

At the G20 Ministerial Symposium on Tax and Development in Bali, she had suggested that G20 should examine the feasibility of bringing non-financial assets like crypto into the ambit of automatic exchange of information among nations to check tax evasion.

The price action indicates that the counter is poised for Rs 350 till the time it is sustaining above Rs 275. Thus, we advise investors to accumulate the stock in the range of Rs 308-300 with a stop loss of Rs 285 for the upside target of Rs 345 in 1 – 3 months.

“Indian macros are firing on all cylinders,” Mayank Khemka, chief investment officer for India at the bank, said in an interview, pointing to economic data ranging from power and fuel demand to auto sales. “When all of this is happening, it has to reflect in corporate performance. From here, the expectations of market returns should be in line with earnings growth, which is likely to be in double digits.”

Among sectoral indices, BSE Metal index zoomed 5 per cent, followed by a 4 per cent rally in Capital Goods and Power indices each. Energy, utilities, finance and industrial stocks added 3 per cent each during the week. In the BSE 500 index, about 290 stocks settled in the green, whereas others dropped during the four trading sessions; 15 stocks were able to register double-digit gains, whereas only two plunged 10 per cent or more.

Some of the big purchases by fund managers in July were UPL, Escorts Kubota, Shriram City Union Finance and Britannia. Among small-cap stocks, mutual funds bought Sapphire Foods, GMR Infra, Minda and Eureka Forbes among others.