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The Nifty IT index was trading 0.81 per cent down at 29989.15.

"We have delivered a stable performance in this quarter on all parameters despite the pressures of commodity inflation and demand slowdown in the latter part of the quarter. EPC has delivered positive EBIT for the current quarter coupled with a strong focus on the collection of receivables," Bajaj Electricals Chairman and Managing Director Shekhar Bajaj said.

“We have been adding names in the financial sector, domestic retail sector as well as the QSR story in the last six months or so. The only place where we are leveraged to global demand is perhaps on the chemical side. Some of the stocks are doing well on that front.”

The PBT was Rs 38.2 crore, up 31% over the same quarter, last fiscal. Despite inflationary pressures and ongoing geopolitical tensions resulting in surging commodity prices and supply chain constraints, the company continued its growth across the Hard Metals and Machine Tools segments.

“We are experimenting with a new model in matrimony business. The chat on the side is now free which was not the case earlier. This is helping us differentiate from the other players in the market. As a result, we are likely to sacrifice revenue for some time. In fact, the revenue billing growth this time in Jeevansathi was minus 30%. But that is part of the plan.”

"We believe that the group earnings may have peaked out for the near term, with our FY23E-FY24E estimates factoring in 1) moderation in NRL GRMs, 2) moderation in Brent crude price to US$90-95/bbl vs >US$110/bbl currently, and 3) net realisations capped at US$75/bbl thanks to the new additional duties imposed by the government," it said..

The partially convertible rupee traded in a tight range all day to end 0.03% lower at 79.6550 per dollar, compared to its previous close of 79.6350. The currency failed to capitalise on a weak dollar and shed 0.6% this week.By comparison, improved risk appetite and soft U.S. inflation print helped Asian peers perform better, including the onshore Chinese yuan

The companies, in similarly worded statements issued within 30 minutes of each other, cited the small trading volume of their shares in New York. They said shares still would be traded in Hong Kong, which is open to non-Chinese investors.

The 30-share pack Sensex advanced 130.18 points to close at 59,462.78. Its broader peer, Nifty50, added 39.15 points to close above near the 17,700 mark. The benchmark rose 1.5 per cent this week.

“In season two and season three (of PVR’s journey), the mainstay continues to remain the exhibition business but we can build an ecosystem of various things around movies, around the consumer that comes from 12 to 34. That could make the company a little more diversified into entertainment space, lifestyle space, food and beverage space than only being an exhibition company.”