“The actual impact of EVs on the financials will be seen probably in FY26. Yes, we have to look at the future and analyse the company and that is the reason why we are trying to identify the winners but at this stage, I will still go with Mahindra & Mahindra.”

For the quarter ended June 30, 2022, the company reported consolidated net sales of Rs 71,934.66 crore, up 8.32 per cent from the year-ago quarter's net sales of Rs 66,406.45 crore. The company reported a net loss of Rs 4,987 crore for the latest quarter.

With the launch of AIF, we move a step closer to realizing our dream of offering investment solutions to all categories of investors, right from Gulaq portfolios (Brain Child of Estee Advisors) for retail investors to PMS & AIFs for large, sophisticated investors. The key differentiator in all these products is the quant drive approach in which we take great pride in being the market leaders," he said.

“Hiring new trainees, training them, putting them on the job reduces the impact of attrition and that is being seen. However, it is still at the higher end. A good sign is this time it seems to be stabilising or going down but we need to still work on to see that attrition comes to a normal level. Otherwise, the impact of attrition on wages and margins will remain,” says Ashank Desai

The Nifty Pharma index closed 0.85 per cent up at 12705.4.

Those reserves are forecast to fall another $23 billion to $523 billion by the end of this year, according to the median forecast from a Sept. 26-27 Reuters poll of 16 economists. If realised, that would be the lowest level in over two years.

The US 10-year Treasury yield hit the 4 per cent mark before easing a bit while the US Dollar index touched a new multi-year high of 114.78. The rupee hit a record low of 81.94 against the greenback.

The Nifty IT index closed 0.24 per cent up at 27067.65.