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The statement assumes significance in the wake of Vedanta earlier committing to reduce carbon emissions to zero by 2050 or sooner and pledging USD 5 billion over the next 10 years to accelerate the transition to net zero operations.

The surge in gold imports during the last financial year contributed to the widening of the trade deficit to $192.41 billion, against $102.62 billion in 2020-21.

BSE midcap and smallcap indices rallied 4 per cent each. On the sectoral front, energy and power indices emerged as the winners during the week, whereas IT remained under pressure. “Momentum was seen in several broader market themes like defence, power, realty and tyre sector stocks. The Q4 FY22 earning season will kick off from next week and would be the key factor for market direction going forward,” said Siddhartha Khemka, Head - Retail Research, MOFSL.

According to Chandan Taparia, ahead of the Q4 earnings from IT behemoths including Tata Consultancy Services (TCS) and Infosys, more strength is seen in second rung IT players compared to their larger peers. Outside IT, Hindustan Aeronautics, Siemens, India Cement and SRF are the counters looking attractive for the upcoming week.

According to the latest regulatory filing by the company, the ace investor bought roughly about 12,000 equity shares of VST Industries during the January-March period. The purchase via his investment arm, Derive Trading and Resorts.

HDFC Securities said that in the case of TCS, it factors USD revenue/EPS CAGR at 12 per cent each over FY22-24E supported by scale and breadth of services including industry platforms, market-share gains from deal bookings in the core vertical (BFSI)/core geography (North America), superior execution and operational track record and superior balance sheet.

​​ While the market valuation of Reliance Industries, TCS, Infosys and Bajaj Finance declined, HDFC Bank, ICICI Bank, HUL, SBI, HDFC and Bharti Airtel emerged as the gainers with a combined addition of Rs 51,628.12 crore.

“We remain positive on large private sector banks within financial space as a large part of asset quality issues are behind us while focus on credit growth takes the centerstage. We also prefer life insurance companies, healthcare companies focusing increasingly on specialty drugs, telecom for its improved pricing power and chemicals with strong export tailwinds.”

Taking a closer look at the dominant drivers of gold prices, they are currently providing both tailwinds and headwinds, ultimately resulting in a rangebound price pattern. In terms of tailwinds, safe-haven demand sticks out.

The ITAT had observed that tax authorities ought to have accepted the voluntary action by the trusts to surrender their registration in March 2015 - the trusts essentially gave up their tax-exempt status - and that the tax department should not have embarked upon fresh proceedings to cancel their registration in October 2019.