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Foreign brokerage Nomura India pegs profit at Rs 683.40 crore, down 21 per cent YoY. It sees sales falling to 7,447.10 crore.

The move is part of a larger refinancing plan at the group, people close to the development said. Buying back the debentures will also aid in unlocking value during any potential monetisation of the asset, they said.

Earnings before interest, taxes, depreciation, and amortization (EBITDA), will likely rise 12-13 per cent, they said.

“What happened in Indonesia was not expected by anybody. But I think it is a question of a week or two, before Indonesia releases the oil because after all it is a surplus producing country and 65% of their crude palm oil they produce are to be exported so I am sure the prices will come down. I think the peak is over.”

The company in a regulatory filing said the Board of Directors of the Company will meet on Tuesday, “10th May 2022 to inter-alia consider…issue of bonus shares subject to approval by the shareholders of the company.”

Reduction in asset quality stress resulted in Rs 951 crore write-back of provisions. The entire ECL provision made in the first quarter of FY22 was reversed, the company said.

The order came after Sebi had conducted an investigation in the trade of securities and futures of Ruchi Soya during the last half hour of trading between 15:00 hours and 15:30 hours on September 27, 2012.

​​ The systems and network audit report will be placed before the governing board of the MII concerned.

The Dow Jones Industrial Average rose 1.28 points at the open to 32,978.49.

The company said its income from the sale of goods during the quarter stood at Rs 3,508.35 crore, up 15.47 per cent from Rs 3,038.13 crore in the corresponding quarter year ago.