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The company had on July 26 announced preferential issue of 62.85 crore shares, being the discharge of total purchase consideration of Rs 4,447 crore for the acquisition of up to 33,018 shares of Blink Commerce Private.

“On the project finance side, here and there, some slippages are there in this quarter. For the entire year – 2022-23 – there will be remarkable improvement in our performance as far as the NPAs are concerned. The provisions also will be more or less stable in the days to come in FY2022-23.”

The Nifty IT index closed 0.64 per cent up at 29973.55.

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However, the total income declined to Rs 3,796.59 crore, as against Rs 4,539.08 crore in first quarter of the previous fiscal, UCO Bank said in a regulatory filing.Interest income during the quarter under review increased to Rs 3,851.07 crore, from Rs 3,569.57 a year ago.

Total expenses of the company also got reduced to Rs 6,556.09 crore in the first quarter of this financial year, from Rs 6,769.62 crore a year ago.In a separate statement, REC said its loan book has increased to Rs 3.88 lakh crore as on June 30, 2022.REC Ltd, under the Power Ministry, is a non-banking financial company (NBFC), focusing on power sector financing and development across India.

The stock traded at a P/E multiple of 4.37, while the price-to-book value ratio stood at 1.08.

"The FMCG major missed expectations on sales with negative volume growth. The promising outlook is already priced in. Inflation continues to hurt the bakery industry," said the brokerage firm.Another foreign broker Morgan Stanley kept its overweight stance intact on the stock with a target price of Rs 3,892 despite the muted results by the FMCG major.

Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1719915.68 Crore) operating in Diversified sector.

"In India transmission of monetary policy takes about two to three quarters and what we have been surprised by is the resilience of the Indian economy. The soft spot for the Indian economy was consumption in the March 2022 quarter end and FMCG sales degrew by about 4.1%, fortunately for the June quarter, that has been negative but only by 0.7%."