Consolidated revenue grew by 9 per cent year-on-year to Rs 2,413 crore. However, input material costs grew at a much faster rate of 24 per cent on-year, eating into the company’s profitability.

Its revenue from operations during October-December 2021 jumped 10.1 per cent to Rs 628.08 crore, against Rs 570.47 crore in the year-ago period.

The Dow Jones Industrial Average rose 43.83 points, or 0.12 per cent, at the open to 35,412.30.

As we approach weekly options expiry, the session will stay dominated by the expiry-influenced activities

The total value of the transaction was Rs 1,204 crore

The consensus shows revenue may rise in the range of 16-24 per cent during the December quarter

The capital commitment primarily came from family offices, HNIs and Indian financial institutions

Two back-to-back significant red candles on the daily chart indicate weakness that could extend further in the near future, said Rupak De, senior technical analyst at LKP Securities.

The Nifty Auto index closed 0.71 per cent up at 11681.4.

“Industrial clusters and R&D were the two clear demands from the Atmanirbhar Bharat scheme. It got overwhelming support from two industries – automobiles and electronics. They supported it 100% and that really stands out.”