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The estimated numbers have come down from the official second advance estimate of 8.9% released on February 28, owing to third-wave of Covid-19 and surging global prices.

This has converted the level of 16,700 into an immediate resistance point for the index. For any sustainable extension of the up move to happen, moving past 16,700 will be crucial and moving past this level comprehensively will open up some more upside for the markets.

The rupee depreciated 12 paise to close at 77.66 (provisional) against the US dollar on Tuesday, tracking a negative trend in domestic equities and surging crude oil prices

Sebi noted that loan agreement and pledge agreement, enabled Vintage to avail loan from EURAM Bank for subscribing to GDRs of Commex. Further, the GDR issue would not have been subscribed, had Commex not given such security towards the loan taken by Vintage.

NXT Digital and Thaicom Public Company made a joint announcement of having signed a binding Memorandum of Understanding (MOU) to form a strategic partnership to enter the Broadband-over-satellite (BoS) market and related services in India.

The quarterly profit was on account of a rise in the recovery of loans which helped total income to grow and a sharp fall in expenditure. Total income stood at Rs 795 crore against Rs 595 crore while expenses fell to Rs 482 crore from Rs 3986 crore.

The price action for the last couple of sessions is developing as a Flag pattern on the hourly chart, said Gaurav Ratnaparkhi of Sharekhan, who believes the sideways action can continue in the range of 16,500-16,700, before the index prepares for the next leg up.

“The operating leverage is kicking in and as we get larger, the margin will only expand. It has no implication on capex whatsoever. We have very low capex and along with the IPO, we have Rs 2,600 crore odd from the last year plus the proceeds of the IPO. We are by far the best capitalised company in the space.”

The crypto industry and players cheered the update from the central official and are hopeful of some positive news from the government. Many expect that the government will ensure steps to support the ecosystem.

“The EBITDA per ton will definitely be maintained because of the input costs. The iron ore prices have come down, coking coal prices have come down, some of the other consumables prices have come down and all this will definitely add to overall EBITDA.”