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Creating a robust order book is extremely important for an infra company so that it can have revenue visibility for years. On that note, PNC Infratech seems to be doing all the right things.

ET NOW sources said that the incumbent Sebi chief Ajay Tyagi, whose term ends on February 28, may get an extension till the new chief is finalised.

The 30-share pack Sensex declined 68.62 points or 0.12 per cent to close at 57,232.06. Its broader peer NSE Nifty dropped 28.95 points or 0.17 per cent to 17,063.25.

“A resurgent Asia will contribute to a more equal world. This is a most welcome trend. The trend is also reinforced by the fact that India is likely to overtake Japan as Asia’s second largest economy and the world’s third largest economy by 2030. I am very confident that the India growth story will be as exciting if not more than that of China in the coming decades to come. It is India’s time.”

On Monday, after a hiatus of almost two years, the Reserve Bank of India announced a two-year sell/buy swap auction worth $5 billion to be conducted on March 8.

In global markets, gold prices slipped to USD 1,896 an ounce whereas silver was marginally up at USD 24.11 an ounce.

Yaari Digital and Orient bell zoomed 20 per cent each, followed by strong buying in Birla Cables and Bal Pharma. PNC rallied over order win. On the other hand, Dhanvarsha Finvest tumbled.

“From a two-three-year perspective, the outlook has improved from the investment cycle perspective but we need to get past this one year of “valuation adjustment” to higher interest rates. The volatile movements is part of the process and could continue for some more months. But the fundamentals of the economy have never looked better in terms of the investment cycle recovery which we are beginning to see, more so in the private capex side and the real estate side. ”

The Nifty Auto index closed 0.21 per cent down at 11318.7.

The rupee was quoted at 74.59 at 1530 hrs, registering a gain of 25 paise over its previous close. On Tuesday, the rupee depreciated by 29 paise to close at 74.84 against the US currency.