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The brokerage firm expects gross margins to recover over the coming quarters while maintaining a sell rating and a target price of Rs 2,400 on the counter, suggesting a 20 per cent decline from its previous close.

“In 2021, the banking sector was continuing to underperform and investors were looking for places to invest in. Automobile was not performing as well. Capital goods had just started to perform. So at that time, they were willing to divert a part of their money to new age stock opportunities but now people are looking at profit-making sectors and companies.”

DCX Systems is among the leading Indian players in the manufacture of electronic sub-systems and cable harnesses. It had 26 customers in Israel, the United States, Korea and India as of June 30, 2022.

Aramco joins oil majors such as Exxon Mobil Corp and Chevron that have reported strong or record breaking results in recent weeks, benefiting from surging crude and natural gas prices that have boosted inflation around the world and led to fresh calls to further tax the sector.

Toyota tanked 1.94 percent to 2,019.5 yen after announcing that half-year net profit dropped 23 percent. However, the top-selling automaker kept its annual net profit forecast unchanged as the cheaper yen offsets supply-chain disruptions.

The Hang Seng Tech Index jumped as much as 9.3% Tuesday, while a stock gauge tracking Chinese companies listed in Hong Kong rose more than 6%, bouncing back from its lowest close since late 2005.

The company, in a separate exchange filing, announced its resolution to acquire Hindusthan National Glass & Industries. The Insolvency and Bankruptcy Code (IBC) has been issued a letter of intent by the committee of creditors (CoC).

“As India has benefited from the external front in the past, then it also probably stands to lose on that front and we are already starting to see some bit of that export slowdown come about, imports being relatively stickier, leading to a current account gap which is getting a little wider manifesting in the form of the currency pressures and so on and so forth.”

According to the data, about 4.17 crore shares of Axis Bank worth about Rs 3,718 crore exchanged hands on BSE as of 10 am. On National Stock Exchange (NSE), 1.26 crore shares of the lender worth Rs 1,118 crore were traded as of the given time.

The global cryptocurrency market cap topped the $1 trillion mark during the early hours, after gaining over a per cent in the last 24 hours. However, the total trading volume soared more than 21% to $88.17 billion.