Further in another development, M&M acquired 21,14,349 equity shares constituting 17.41% of the paid-up equity share capital of Swaraj Engines from Kirloskar Industries. Consequently, the shareholding and voting rights of M&M in Swaraj Engines stand increased from 34.72% to 52.13% and Swaraj Engines now becomes M&M’s subsidiary with effect from 27 September, 2022.

“The valuations are rich but it holds for smallcaps and midcaps too. These are companies which are offering growth and probably many of them might have decadal opportunities to become much larger companies than what they are today. Some of these are in sectors which lend themselves to discretionary consumption, to the unorganised to organised shift. Some are benefiting from PLI schemes for manufacturing.”

The International Monetary Fund (IMF) and ratings agency Moody's criticised Britain's new economic strategy announced on Friday, which has sparked a collapse in the value of British assets. Investors braced for more havoc in bond markets that has already forced the Bank of England to promise "significant" action.

Shares of Vijaya Diagnostic Centre, listed on September 14, 2021, at Rs 542.30, have since then fallen around 30 per cent from their 52-week high of Rs 672.50.

In a simple language, the move to renewables and EVs will mean that the demand for certain metals and minerals from copper to lithium will move up, for some, by an order of magnitude.

Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.

Yet the Portuguese government may throw a wrench in the country’s status as a crypto hub. In May, Fernando Medina, the finance minister, said the government was considering taxing crypto earnings like regular income and “intends to legislate on this matter.” A decision could come next month when Portugal releases its annual budget.

“Things are challenging on the external front. India is going to be running a higher current account deficit this year. There is a little bit of pressure on the rupee at the moment and some inflationary pressure globally and also in the domestic economy in India. We expect growth to be pretty strong going forward still. We see the economy growing at a rate of 7.3% this year and then over the next few years, staying above 6.5% on a real basis per year.”

In an exchange filing, the firm said, Four fully paid up equity shares of Rs 10 each of the resulting company shall be issued and allotted to the equity shareholders of the demerged company for every one fully paid up equity shares of Rs 10 each held by them in the demerged company as on the record date.