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“FMCG, after a very long period of underperformance, is looking better. We are most overweight on capital goods, industrial machinery. As we still have the rupee depreciation theme, we are partially overweight on parts of textiles, chemicals and are somewhat overweight on IT services. We have increased our weight in auto four-wheeler space.”

Total expenses the quarter ended nearly doubled to Rs 221.3 crore from Rs 124 crore on a YoY basis. The total comprehensive income of the company as of June 2022 was at Rs 4 crore as against June 2021 of Rs 23.29 crore.

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 358606.75 Crore) operating in Tobacco sector.

A total of 20,209 shares changed hands on the counter till 12:38PM (IST).

This is a fresh case against Ramkrishna, Narain and Pandey who are already being probed in the NSE colocation case. Ramkrishna has been arrested by the CBI and is currently in judicial custody. While Narain has been quizzed, Pandey is yet to be summoned by the agency in the said matter,

On the Multi-Commodity Exchange (MCX), the August gold contracts were trading 0.16 per cent higher at Rs 50,700 per 10 grams at 0930 hours. The September silver futures were trading 0.07 per cent lower at Rs 56,899 a kilogram.

RBI on Wednesday raised overseas borrowing limits for companies and liberalised norms for foreign investments in government bonds as it announced a slew of measures to boost foreign exchange inflows in efforts to curb the fall of the rupee.

The Relative Strength Index of the stock stood at 52.67 on Friday.

“The valuation of Rs 70,000 crore for M&M’s EV business is on the higher side but even if we take on the lower side because there are number of terms and condition and milestone for future investment by all these partners which are based on certain achievement on the EV side, on the lower side, it can be around Rs 40,000 crore.”

The move comes with a broader shift in sentiment on the yen. It fell nearly 16% on the dollar through the first half of 2022, but has lately found support as global growth fears rattle markets, and from the risk of a central bank policy shift.