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However, NBFCs are unable to borrow from the market or from the banking system. By reintroducing the partial credit guarantee scheme, banks can extend financial support to the NBFCs for onward lending and extend much-needed credit to the MSME sector.

Meanwhile, the net NPA ratio stood at 1.61% for the quarter under review. The provision coverage ratio (PCR) came in at 90.27% at the end of the December quarter against 88.96% in the September quarter.

The brokerage expects EBITDA margin to be in the range of 17-18% in the short to medium term, supportedby operating levers like utilisation improvement.

The stock quoted a 52-week high of Rs 275.0 and a 52-week low of Rs 175.0.

Consumer inflation has been easing for six straight months, raising hopes the Fed could soon consider softening its policy on interest rates, even though it has said it will keep raising rates this year and expects no rate cuts until 2024.

As of 30-Sep-2022, promoters held 0.0 per cent stake in the company, while FIIs held 18.7 per cent and domestic institutional investors had 1.87 per cent.

While some voices state that it is time for the government to moderate its FY24 target given that it has missed its targets the last 3 years, it is likely the Govt would continue to set an aggressive target given the background of growth push with government spending.

The Relative Strength Index of the stock stood at 43.58 on Wednesday.

Eris Lifesciences, incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 8701.37 Crore) operating in Pharmaceuticals sector.