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Tesla shares jumped 4% after the automaker reported stronger-than-expected earnings but shrinking automotive gross margins.

The momentum readings on the lower time frame chart have reached the overbought zone and, the 50 percent retracement resistance on the daily chart is seen around 16,650, said Ruchit Jain of 5paisa.com.

The company is setting up a greenfield project in Chennai which is expected to be commissioned by the third quarter of this fiscal. The plant will have a capacity of 1,47,000 tonnes of carbon black and produce 24 MW of green power.Another 40,000 MTPA brownfield project at Mundra in Gujarat, is also under execution in two phases. The first phase is expected to be operational by the end of the current fiscal, the PCBL said.

“With raw materials prices coming back to normal hopefully in the coming months, the margins should go up and lead to profitability in Lloyd. We are looking at Lloyd as a long-term investment. Even in this quarter, most of the EBIT loss is contributed by the fact that we had a high amount of advertising and our focus will continue to remain on distribution and brand building.”

Its revenue from operations rose to Rs 981.40 crore in comparison to a lower base of Rs 59.39 crore in the corresponding quarter last fiscal, when the screening business was disrupted due to the second wave of the coronavirus pandemic.

“Our ticket pricing is up 23% compared to pre-pandemic levels. But if one were to break it down, cinemas have been shut for two years. We have really caught up on inflation. The line-up of films that we are seeing and the demand that we are seeing at theatres, make us extremely confident that we will be able to sustain these levels of ticket pricing growth at our cinemas.”

According to the data available on Trendlyne and the latest shareholdings of the companies, Kacholia picked fresh stakes in Barbeque-Nation Hospitality and Repro India during the April-June 2022 period.

Total income of the company rose by 10.4 per cent to Rs 4,544.51 crore as against Rs 4,116.14 in June 2021. Consolidated revenues from operations, meanwhile, grew by 5.1 per cent year-on-year to Rs 4,311 crore compared with Rs 4,102.79 crore.

Continuing its gaining streak for the 5th straight session, the 30-share pack Sensex advanced 284 points to close at 55,681.95. The index has advanced over 2,200 points (4.24 per cent) in the last 5 days of the rally. Its broader peer, Nifty50, also settled above 16,600. The benchmark closed above the 16,600 mark for the first time since June 2.

The Nifty Bank index closed 0.64 per cent up at 36201.0.