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The company has diversified across various FMCG categories with manufacturing competencies in food and beverages, home care, fabric care, beauty and personal care, health care and wellness, leather and sports footwear, and pest control, among others

“The FMCG sector can be selectively looked upon. Recent updates from a couple of companies were quite encouraging, says Pankaj Tibrewal of Kotak Mutual Fund. He also says that they continue to remain positive on the broad overall capex recovery theme and capital goods is a great proxy to play that revival..”

Experts suggest that Larsen & Toubro (L&T) stock is on track to reach a fresh record high in the next 2-3 months, as it has managed to rebound from its 50-daily moving average on the charts. The stock showed positive momentum in the last month and broke out from a falling channel pattern on the charts, allowing it to inch towards the Rs 2400 levels. The stock is now trading above most short and long-term moving averages and has also received bullish indicators from the Relative Strength Index and MACD.

The headline indices have experienced a not-so-tepid correction in valuations, with the small and midcap indices valuations suffering the most.The correction in valuations presents a good opportunity to invest and accumulate businesses that pass the Darwin test - survived and thrived over time and have significant MOATs

The Fed - which has embarked on one of its most aggressive rate hiking cycles in decades to defeat inflation over the past year - has forecast borrowing costs will remain around current levels to the end of 2023. But market participants believe tighter monetary policy is already starting to hurt growth and are betting on rate cuts later this year

Prices jumped by more than 6% on Monday after the Organization of the Petroleum Exporting Countries and allies including Russia, collectively known as OPEC+, pledged voluntary production cuts.

IIFL Finance, which had raised USD 400 million through its maiden dollar bond issue in February 2020, said the money will be used to pre-pay existing higher cost debt, which will help it save significantly on its borrowing costs.

A fine of Rs 55 lakh has been imposed on Indian Bank for contravention of certain Know Your Customer norms. Muthoot Money fined by Rs 10.50 lakh

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The market breadth favours bulls with 30 stocks advancing in the 50-stock Nifty50 at the closing time