Provisional data available on NSE for May 31st suggest another Rs 1,003.56 crore-worth of FPI selling in Indian stocks, taking the May outflows to Rs 40,996.56 crore.

Earlier in May M&M reported a 427 per cent jump in its standalone profit after tax (PAT) at Rs 1,292 crore, for the quarter ended March 2022. The auto major had clocked an of Rs 245 crore in the same quarter last year.

Given the urgency shown by the RBI amid major inflationary pressures, speculation was rife that the central bank would follow up the 40-basis-point rate hike with a rate hike of around 50 bps in June and then more rounds of rate increases.

Deutsche Bank economists now expect the European Central Bank to raise interest rates by 50 basis points in September as rising prices squeeze economic growth.

Promoters held 45.25 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 19.8 per cent and 17.64 per cent, respectively.

The company had opened deal book for qualified institutional buyers (QIBs) on Tuesday, which saw strong demand from investors. JP Morgan is the sole banker for the deal.

“The ban always tends to be a very blunt instrument. It cuts out the farmer interest completely. What we can do is perhaps for a short period, impose an export tax to balance consumers’ interest against the farmers’ interest. With some modest export tax, they can still continue to export and take advantage of the elevated oil prices and at the same time, that will help bring the domestic prices somewhat down."

A total of 27,462 shares changed hands on the counter till 12:12PM (IST)

We expect Infosys to deliver margin on the higher side of its guidance band, with strong growth and reduced dependence on sub-contractors as attrition falls. We expect the company to be a key beneficiary of an acceleration in IT spends.

Aurobindo Pharma Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 32411.19 Crore) operating in Pharmaceuticals sector.