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“There is no hurry in this market. I think wait and watch but I would say we are not far away from the bottom, because there is one silver lining to all this that India is importing most of its inflation and it is a very imported commodity dependent market. If the prices are falling, this is good for the country.”

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 11234.94 Crore) operating in Tyres sector.

"With this reorganization, we would like to enable both these businesses with independence to pursue their individual growth trajectories so that they are unencumbered in their pursuit to create value for their key stakeholders – customers, NIITians and investors. Each business has a remarkable opportunity to grow and be a leader in their space. "

Earlier this month, the company had stated in a filing that the cost of acquisitions were Rs 280.10 crore for SPPL and Rs 329.30 crore for EREPL. The consideration for the acquisition was cash.

Elsewhere the Japanese yen remained under pressure at 135.1 yen per dollar, not far off a 24-year low of 135.58 yen hit early last week, after the Bank of Japan on Friday dashed any mild expectations of a change in policy and renewed its commitment to ultra-easy monetary settings.

Barring the USD Coin, all crypto tokens were trading with gains on Tuesday. Solana zoomed 9 per cent, whereas Avalanche and Polkadot gained 8 per cent and 7 per cent, respectively. Ethereum, Bitcoin, BNB and Cardano gained up to 5 per cent.

"The interest rate hike is in line with the market scenario. If compared historically, the rates are still at a very competitive level. Therefore, we will see sustenance in demand for home loans," its Managing Director and Chief Executive Officer Y Viswanatha Gowd said.

“We have to get back to the pre-Covid level when PAR was slightly below 1%. That should be the target,” Davis told ET in an exclusive interview. “Based on the business model we have, we cannot sustain a high level of PAR, but we can sustain a little higher than the pre-Covid level.”

This diktat by the banking regulator is being seen as an effort to clampdown on card fintech and firms operating as neo-banks who have tied up with banks to offer credit lines.

Palm oil is used in making products such as soaps, biscuits and noodles while crude is a key input for detergent and packaging, among others. Palm oil has dropped below $1,300 per metric tonne from highs of $1,800-1,900 while crude oil has retreated to less than $107 per barrel, down from a peak of about $130.