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On quarterly earnings, the brokerage said that despite strong credit growth of 22 per cent YoY, core profit grew 15 per cent YoY on flat margins and higher opex. "This, coupled with higher MTM loss on investments, partly offset by lower LLP, led to PAT growth of 19 per cent YoY," it said while suggesting a target of Rs 1,800 for the stock.

The pan-European STOXX 600 index rose 0.9% by 0716 GMT after posting a 0.8% drop last week. Gains on Monday were broad-based, with miners, energy stocks and banks leading the rise.Sentiment globally was lifted by China stimulus hopes amid COVID-19 flare-ups, and easing fears about a 100-basis-point rate hike by the U.S. Federal Reserve this month.

Shares of Tata Elxsi Ltd. have jumped 37% in 2022, topping a gauge of Indian tech firms that has shed 28% with all but two stocks in the red. The company’s sales and profits have climbed on large deals for cloud-based platforms and artificial intelligence used to improve products and customer experience.

“Among all the food items, the minimum price increase has happened in milk, only 8-9% in the last one and a half-two years. Amul or the other cooperatives or the dairy sector is also paying around 8% to 9% more price for milk compared to previous year. But then the cost of production of milk for the farmer has increased around 15% to 20% because the cattle feed ingredients.”

The stock hit a 52-week high of Rs 1,588 on 17 September 2021 but failed to hold on to the momentum. It closed at Rs 1,177 on 15 July 2022 which translates into a downside of more than 25 per cent.

Altcoins, meanwhile, beat the crypto behemoth as Polygon zoomed more than 13 per cent. Ethereum rallied over 7 per cent to top the $1,450 mark in the last 24 hours.The global crypto market cap rose more than 3 per cent to reclaim the $1 trillion mark. The total crypto market volume over the last 24 hours stood at $70.38 billion, registering a rise of more than 7 per cent

The Navratana PSU said it achieved a turnover of Rs 3063.58 crore during the first quarter of FY 2022-23 as against Rs 1564.34 crore recorded the previous year.

A total of 137,376 shares changed hands on the counter till 01:55PM (IST)

Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 34.83 per cent and 2.71 per cent, respectively.

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