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“From one earnings season to the other, we are definitely seeing some progress being made in terms of better operating profits. These are great times for investors who have weathered the correction which took place over the past few months and now the next few weeks and months look quite interesting. I see a lot of reversion to mean and maybe the indices can cross the previous highs.”

The stock with a market capitalisation of more than Rs 26,000 crore hit a record high of Rs 1,146 on August 16, 2022, on the BSE. The stock has rallied more than 20 per cent in a month which helped it to climb above 50 and 200-DMA on daily charts.

“One of the stocks is NCC, which paid out a Rs 2 dividend. It is a 3% dividend yield on a stock. They have cut down their debt. The order book is strong and they will do well. The second is Ahluwalia Contracts, which is a debt-free company. They have cash on their balance sheet and have been getting decent orders.”

Comex gold prices declined due to improved initial jobless claims data from the US, said ICICIDirect. "Rising dollar index and optimistic sentiments in global markets weighed on precious metal prices."

According to the filing, BSNL will provide all telecom services in Delhi and Mumbai through leasing of operational assets or other appropriate models and MTNL will monetize its land assets to reduce its loan and other liabilities.

The rupee opened weaker on Friday after the dollar index reached a 1-month high following comments from US Federal Reserve officials over the quantum of rate hikes, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

JPMorgan maintained its neutral rating on Britannia Industries with a target price of Rs 3,930. The stock closed at Rs 3,692 on 18 August. The global investment bank revised FY23/24E EPS downwards by 4/2 per cent. Gross margin bottomed out in Q1FY23. The company expanded its product portfolio (wafers, croissants, cakes, biscuit variants) which is a positive sign.

The company had recently announced an acquisition of a substantial interest in a rice processing facility located in Bareilly, Uttar Pradesh through a joint-venture agreement, in which it holds a 66 per cent stake in the JV agreement.

Vijay Shekhar Sharma’s role as the chief executive officer is among the items to be voted on at the company’s annual general meeting held virtually this afternoon. A proxy advisory firm last week recommended that shareholders replace the founder as CEO, citing concerns about his ability to reverse losses at the payments provider.

The stock quoted a 52-week high price of Rs 6573.05 and low of Rs 4048.05.