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The promoters — Agarwal and Goenka families — own 54.27% in the company. About 32% of the promoter shareholding is currently pledged. Emami’s hospital business, run under Amri Hospital brand, is in the process of getting sold to Manipal Group for about Rs 1,800 crore.

Some investors define a bear market more specifically as a decline of at least 20% in a stock or index from its previous peak, with the peak defining the beginning of the bear market, which is only recognized in hindsight following the at-least 20% decline.

According to preliminary data, the S&P 500 lost 3.19 points, or 0.08%, to end at 4,207.05 points, while the Nasdaq Composite lost 74.73 points, or 0.58%, to 12,780.08. The Dow Jones Industrial Average rose 32.20 points, or 0.10%, to 33,341.71.

About 14 stocks from the Nifty, including ONGC, UPL, HDFC Life, SBI Life, Axis Bank, and Hindalco, could gain over 15% in a year, according to Motilal Oswal Financial, based on Bloomberg consensus estimates.

"Those results are consistent with our view that inflation is peaking but remains too high," said Ed Yardeni, founder and chief investment strategist at Yardeni Research, in a note to clients. "So, we expect that the Fed will hike the federal funds rate again by 75 bps in September then pause rate-hiking for the rest of this year."

"The market will come to a realization that the FOMC has a lot more work to do and they will have to increase the funds rate to as high as 4% at the end of this year," said Carol Kong, a Sydney-based senior associate for currency strategy and international economics at Commonwealth Bank of Australia.

​​​​It came a day after news that consumer prices (CPI) were unchanged in July due to a drop in gasoline prices. San Francisco Federal Reserve Bank President Mary Daly said a 50-basis-point interest rate hike in September "makes sense" given the recent economic data including on inflation, but that she is open to a bigger rate hike if data warrants.

It also formed long bullish candles on daily and weekly charts which is broadly positive. We are of the view that as long as the stock is trading above 20-Day SMA (Simple Moving Average) or Rs 560, the uptrend formation is likely to continue. Above which, it could move up to Rs 600-625.

OPEC in a monthly report said it expects 2022 oil demand to rise by 3.1 million barrels per day (bpd), or 3.2%, down 260,000 bpd from the previous forecast. The IEA raised its forecast by 380,000 bpd to 2.1 million bpd.

Healthcare services vertical clocked a revenue of Rs 2,032.07 crore as compared to Rs 1,941.24 crore in the same period last year, while the clinics segment revenue was lower at Rs 293.01 crore as compared to Rs 309 crore in the year-ago quarter, the company said.