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The zone of 17,200-17,300 remains a strong resistance zone for the markets

Revenue from operation grew 56 per cent to Rs 3,346 crore during the third quarter of this fiscal year from Rs 2,146 crore in the corresponding period of the previous year, PTI reported.

At the interbank foreign exchange market, the local currency opened at 75.18 against the greenback and witnessed an intra-day high of 75.07 and a low of 75.31 during the session.

“Ours is a deleveraging cum growth story which is not easy to pull off but we find that we are able to deliver on both fronts. Our cost of debt has moderated by 120 bps or 1.2% over the last nine months and we expect this to significantly fall going forward.”

The Nifty Realty index was trading 3.2 per cent down at 455.55.

The 30-share pack Sensex dropped 581.21 points or 1 per cent to 57,276.94. Its broader peer Nifty50 tanked 167.8 points or 0.97 per cent to 17,110.15. The broader markets plunged as BSE midcap and smallcap indices shed a per cent each.

“As India’s economy goes towards $10 trillion, look at companies which can grow their earnings by 10 times.”

A Hammer has bullish connotation, provided the market witnesses a follow through buying in the next session

“We have contracted the fiscal deficit quite substantially this year, but next year we might not have the legs to bring it down in the same manner.”

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