D-STREEt CLOSe WITh MINOr GAINs...!!!

Indian equity benchmarks ended higher on Wednesday amid positive cues from global markets. Investors globally keenly await FOMC decision scheduled to be announced later today.

Bse Sector:

Gainers: Metal, Realty, Capital Goods, IT, Consumer Durables, Industrials, Commodities, Utilities, Power, Teck, Consumer
Discretionary, Healthcare, Telecommunication, Auto, Financial Services, Oil & Gas, Bankex, Services.

Non Gainers : FMCG, Energy.

BEATINg tHe STREEt (Nifty):
Gainers were Hindalco, ONGC, TechM, JSWStl, UPL, EicherMtrs, TataStl, IndusIndBk, NTPC, SBI, PwrGrid, DivisLab

ExPECTATIOn BELIEd (Nifty):
Non Gainers were Nestle, ICICIBk, Airtel, AsianPaints, HUL, SBILifeIns, HeroM, Britannia, UltratechCmnt, RIL, HDFCLife

*News Headlines from Business News Agencies:*

*Business Standard :*

• India-China trade rises 34% in FY22 thwarting Centre's self-reliance goals

• M&M to invest Rs 10,000 cr to set up plant in Pune for upcoming EV range

• ADB cuts developing Asia's GDP outlook for 2023 amid global growth concerns

• US finalising arms upgrade to Ukraine with Patriot missile batteries

• Billionaire Anil Agarwal struggles to get backers for $19 billion chip unit

• Sundar Pichai coming to India; govt to discuss 'Made in India' Pixel phones

• India and UK look to fast-track free trade agreement negotiations

• United Airlines places largest 787 Dreamliner order in Boeing's history

• Bharti Airtel launches 5G Plus services at no extra cost in Lucknow

• Coal India's 7 projects to be developed by MDOs for import reduction

• Govt extends bid submission deadline till Jan 7 for IDBI Bank sale

• Retail firm Lulu Group signs deal to open 6 shopping malls, 1 hotel in UP

• Colgate Palmolive to focus on volume growth in India, says MD Narasimhan

• Amazon faces $280 mn lawsuit from Vietnamese supplier for post-Covid cuts

• CPAI asks Sebi to provide uninterrupted trading in cotton futures contracts

• Israel to consider cooperation in agriculture, tourism sectors with Kerala


*Economic Times :*

• Indian IT to bag a lion's share of $160 billion tech deals in Q1

• India's wholesale inflation eases to 21-mth low in Nov

• Share of SIP AUM hits a record 17% in total MF AUM amid sustained inflows

• India's Rupee only currency which strengthened during uncertain times, says Finance Minister

• Macro headwinds impact performance of textile players across segments in Q2 FY2023

• Inflation, uncompetitive prices hurting Indian cotton spinners: ICRA

• Sales of automobiles continue to grow even after festive season: SIAM

• 9.79 Lakh vacancies in central government departments: Centre

• Crypto firm Binance says deposits returning after heavy withdrawals

• Paras Healthcare onboards MyHealthcare as their digital transformation partner

• UN recognises Ganges project among 10 initiatives restoring natural world

• Byju's staff reveal harsh work conditions at edtech giant

• Paras Healthcare appoints Santy Sajan as the new Group Chief Operating Officer

• AAI issues notice to Delhi airport for providing deficient services, may slap penalty

• Indian households may more than double savings in 5 years, says Crisil

• UK inflation falls from 41-year high giving some relief to BoE


*Mint :*

• Coal India issues letters of acceptance for seven greenfield coal projects

• NTPC plans to raise ₹500 cr through NCDs via private placement
01q

• Two committees set up to reduce delay in crop loss, damage estimation: Jitendra Singh

• Paytm has excess cash, buyback won't hamper growth plans: Morgan Stanley

• IEX becomes India’s first carbon-neutral power exchange

• Infrastructure consultancy firm REPL to prepare master plan for 19 ULBs of Uttarakhand

• Non-life insurers’ gross direct premium up 22.1% in November

• GMR Hyderabad Airport raises ₹1,150 cr for repayment of offshore bonds

• Success rate of Indian startups higher than rest of the world: Piyush Goyal

• HDFC Bank to acquire 7.75% stake in fintech start-up Mintoak

• Delhi MCD presents budgetary proposals worth ₹16,000 crore.

• Airport congestion: Govt asks airlines to deploy adequate staff

• Anti-trust action against the Microsoft-Activision Blizzard deal is overkill


*Economic Calendar_15.12.2022*


*07.30 AM China Industrial Production y/y (Expectations: 3.4%, Previous: 5.0%)*

*07.30 AM China Retail Sales y/y (Expectations: -3.9%, Previous: -0.5%)*

*17.30 PM U.K. Bank of England Monetary Policy (Expectations: 3.5%, Previous: 3.0%)*

*18.45 PM Euro ECB Monetary Policy (Expectations: 2.5%, Previous: 2.0%)*

*19.00 PM U.S Retail Sales m/m (Expectations: -0.2%, Previous: 1.3%)*

19.00 PM U.S Empire State Manufacturing Index (Expectations: -1.1, Previous: 4.5)

19.00 PM U.S Unemployment Claims (Expectations: 230k, Previous: 230k)

*19.15 PM Euro ECB Press Conference*

19.30 PM U.S Industrial Production m/m (Expectations: -0.1%, Previous: 0.1%)

*🌹India Daybook – Stocks in News*


*Torrent Pharma* Company in co-marketing pact with Boehringer for anti-diabetic drug. (Positive)

*Glenmark Pharma:* Company to divest its Cardiac brand Razel (From Agencies) (Positive)

*Kerala Ayurveda:* Company says US regulator awards patent for a herbal formulation (Positive)

*Poonawalla Fincorp:* Company to sell its housing arm to TPG Group for Rs 3,900 cr (Positive)

*Wipro:* Wipro announced the launch of new financial services advisory company, Capco in the Middle East. (Positive)

*Dunseri Tea:* The company has entered into an MOU to sell the Khagorijan tea estate for an amount of Rs 15 crore. (Positive)

*Tata Motors:* The homegrown auto major said it has inked a pact with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs (Positive)

*Shriram Properties:* Company buys Bengaluru plotted development project (Positive)

*Dilip Buildcon:* Gujarat metro contract executed via RBL-DBL JV (Positive)

*Tamilnad Mercantile Bank:* Enters into agreement with Kotak General Insurance for marketing, distribution & selling products (Positive)

*Thermax:* Appellate Tribunal allows company's appeal for demand of Rs 1382 cr from excise department (Positive)

*Ramkrishna Forgings:* Company to buy up to 51% of TSUYO Manufacturing in phases (Positive)

*PEL:* Piramal Capital acquired 100% stake in PRL Agastya for Rs 90 cr (Neutral)

*SBI:* Board approves raising upto Rs 10,000 cr via Basel III compliant debt instrument upto FY24 (Neutral)

*JB Chemicals:* Board approves acquisition of Glenmark’s Razel franchise for Rs 313.7 crore (Neutral)

*AstraZeneca:* Gagandeep Singh Bedi resigns as MD w.e.f December 31, 2022 (Neutral)

*Kamat Hotels:* The company will be issuing up to 58.96 lakh warrants (Neutral)

*SBIN:* Bank to hike lending rates by 25 bps across loan tenures from December 15. (Neutral)

*HDFC Bank:* Bank hikes most retail term deposit rates by 40-75 bps (Neutral)

*Kotak Bank:* Bank increases fixed deposit interest rates up to 7% from Dec 15 (Neutral)

*Power Grid:* Directors panel approves Rs 330.61 cr investment for Rajasthan project (Neutral)

*IRCTC:* Government announces OFS for at Rs 680/share.

*Equitas Holdings:* CDC Group Plc sold 76.04 lakh equity shares or a 2.22 percent stake in the company

*PVR/Inox Leisure:* Non-profit group CUTS has moved NCLAT against the fair trade regulator CCI's order

 
IRCTC - Government will sell an up to 5 per cent stake in Indian Railway Catering and Tourism Corp (IRCTC) at Rs680 a share (CMP 733) – Today HNI and Tomorrow Retail
 
Poonawalla Fincorp: The non-banking arm of the vaccine major Cyrus Poonawalla Group announced sale of its housing subsidiary Poonawalla Housing Finance to private equity major TPG for Rs 3,900 crore
 
Mahindra & Mahindra - M&M has received approval from the Maharashtra government to invest Rs 10,000 crore in an electric vehicle manufacturing plant in Pune. The vehicles proposed to be made at the plant will be based on the company’s INGLO EV platform and will include e-SUVs under the XUV brand – positive
 
NTPC will issue NCDs worth Rs 500 crore on private placement at a rate of 7.44% annually. The proceeds will be utilized for funding capital expenditure, refinancing of existing loans and other general corporate purposes. – positive
 
Jubiant Pharmova - The U.S. FDA has issued eight observations after an inspection of the company’s API manufacturing facility at Nanjangud, Karnataka. Company will soon announce the action plan on FDA's observations. – Any sharp decline will be buying opportunity
 
Coal India has issued LoAs for seven coal projects to be pursued through the mine developers and operators model. The projects have a production capacity of close to 100 million tonne per year cumulatively. Coal India is tracking 15 greenfield coal projects through MDOs. Company’s investment in MDO projects seen at Rs 20,600 crore. - positive
 
Tata Communications Managed Services components to its wholly-owned subsidiary, Tata Communications Collaboration Services Pvt  as a going concern on 'slump sale' basis. The networth, basis the carved out Balance Sheet, as of September 30, 2022, was Rs42.34 crores - positive
 
WPI Inflation Falls To Lowest Since February 2021 - WPI inflations falls to 10-month low at 5.85% in November 2022 compared to 8.39% in October. Bloomberg expectation 6.30% - Expects positive for the interest sensitive sectors like banks, NBFC, auto and real estate stocks due to nearly 1-year low Wholesale Inflation and Retail Inflation.
 
Vip Clothing - Mr. Sunil Kumar Alagh former managing director and chief executive officer of Britannia Industries will be joining as a strategic advisor to VIP Clothing Ltd, the leading innerwear brand in India with a legacy over past 52 years in the innerwear industry. – positive
 
Tata Motors: The homegrown auto major said it has inked a pact with Everest Fleet Pvt Ltd to supply 5,000 units of XPRES-T EVs. As part of the deal, the company handed over 100 units to Mumbai-based Everest Fleet. - positive
 
Power Grid Corporation: A committee of directors of state-owned have approved a proposal to invest Rs 330.61 crore in a transmission project. It said a decision in this regard was taken by the company's 'committee of directors on investment on projects.
 
Cineline India has announced the opening of its first flagship 7 screen multiplex at "AMR Planet Mall" situated at Malkajgiri Mandal, Hyderabad, Telangana  with a capacity of 1,535 seats. – Positive
 
Torrent Pharmaceuticals has entered into a strategic alliance with Boehringer Ingelheim India Pvt to co-market Cospiaq, Cospiaq Met™ and Xilingio® in India. – positive
 
IRIS Business is in receipt of a Letter of Intent from the Royal Monetary Authority of Bhutan awarding the contract for providing consulting services for the implementation of a Data Warehousing and Analytics Platform.- positive
 
Celebrity Fashion - CRISIL Ratings has upgraded its rating on the long-term bank facilities availed by the Company to 'CRISIL BB/Stable' from 'CRISIL BB-/Stable' and reaffirmed the 'CRISIL A4+' rating on the short-term facility. – positive
 
Jubliant Food - Domino's Pizza, India's largest pizza chain, has launched a new range of gourmet pizzas - Viva Roma. The new range of scrumptious pizzas, which defines authentic Italian taste in every sense – positive

News and Impact
 
Expects market to open on a weak note on account of global cues after the US Federal Reserve Chair Jerome Powell reiterated his hawkish stance on its policy-meeting outcome and raised interest rates by an expected 50bps at 4.25 percent to 4.5 percent, its highest level in 15 years. US stocks turned lower over half percent on a highly volatile sessions after the Fed’s latest rate decision and Chair Jerome Powell’s speech signaled the central bank sees work left to do in its battle against inflation. Its updated economic projections published on Wednesday showed that the central bank now sees its benchmark rates rising to a median level of 5.1 percent in 2023, above the 4.6 percent forecast back in September, suggesting a target range of 5 percent to 5.25 percent, or roughly another 75 basis point rate hikes ahead. Asian market declined marginally and US Future is up quarter percent. SGX Nifty slipped by 60 points or 0.3%. However, interesting point that the US CBOE volatility index slipped by 10% and Dollar Index fell to 6-month low to below 104. Back home, positive sentiment in the market on account November Retail inflation fell to 11-month low and Wholesale inflation declined to 21-month. Traders buy on decline strategy in the market and focus on PSU, Metal and Real Estate stocks. Today, ECB and Bank of England will announce interest rate decision.
 
US stocks turned lower after the Federal Reserve’s latest rate decision and Chair Jerome Powell’s speech signaled the central bank sees work left to do in its battle against inflation.v
The S&P 500 and the Nasdaq 100 erased earlier gains after the Fed raised its benchmark rate by half a percentage point and Powell restated his hawkish stance. Dow and Nasdaq Composite slipped over half percent each.
 
Asian stocks followed US equities lower after the Federal Reserve signaled interest rates will climb higher than anticipated next year.Japanese, South Korean and Australian shares marginally decline nearly 0.2% each.
 
European stocks were marginally in the red at close of trading on Wednesday after the U.S. Federal Reserve signaled that it plans to continue raising interest rates next year. UK, Germany and France Index slipped quarter percent each but fell 1% from the intra-day high.
 
Brent Crude surged 4% to $82/bbl concern of bad weather in US delayed initial efforts to restart a key pipeline. The IEA warned that oil prices could rise next year as the full impact of Russian sanctions is absorbed by the market.
 
Gold prices edge marginally at $1803/ounce down after the U.S. Federal Reserve signaled that it plans to continue raising interest rates next year
 
Actionable -   SBI, Bikaji Foods, RVNL, Hindalco, Poonawalla Fincorp
 
Brokers Radar – LIT-Mintree TGT by CLSA at 4900, CLSA TGT on Insurance sectors -  HDFC Life at 710, SBI Life at 1650, MAX Life at  970.
 
Events – Weekly Nifty and Bank Nifty expiry. PVR and Inox Board meeting for merger
 
Corporate Action  - RCF Ex-dividend Rs2.50 and Sukhjit Starch & Chemicals ex-dividend Rs8, Take Solution Board Meting
 
Global Data – Retail sales, initial jobless claims, Manufacturing Production and Empire Manufacturing (US). ECB Interest Rate decision (Europe Central Bank),  CPI (France). WPI (Germany). Bank of England Rate decision (UK).  New Home Price, IIP, Retail sales (China)
 
Market Summary – Government to sell up to 5% stake in railway unit IRCTC
, Poonawalla Fincorp to sell its housing arm to TPG for ₹4k cr, Tata Communications Ltd enters into BTA to hive off non-network IoT business, Mahindra to Invest $1.2B to Set Up EV Plant in Pune, WPI Inflation Falls To 21-Month low, HDFC Bank Buys Minority Stake In Fintech Startup Mintoak Innovations, Deadline For Submitting EoIs For IDBI Bank extended, BSE and NSE approve HDFC, HDFC Bank merger

Profit booking in Markets ahead of Christmas vacations by some Fii's. Need to keep watch on the Exit plans of open positions either by profit booking or hedging or trail sl.
@AlliesFin

MARKETS TODAY 😅

Cues for tomorrow

-
Sharp slide in US #Markets, #Jobless claims lower than expected

#ECB, #BOE rate decision on expected lines, commentary hawkish

#Accenture Earnings tmrw post mkt

#Sensex Semi Annual Rejig exp

Archean Lock-in opens

Block Deal: GMM Pfaudler

*SGX Nifty -46 pts (18400) from last trade 18446 ,*


Nikkei -444 pts ,
Hangseng -25 pts ,
Around @ 6.54am .


Dow -764.13 pts ,Nsdq -360.36 pts, S&P
-99.57 pts , Bovespa -8 pts , Ftse -69 pts , Dax -473 pts , Cac -208 pts , Crude @ $76.25 brl (+0.14), Brent @ $81.45 brl (-1.25) , Gold @ 1786.40 (-1.40), Silver @ $23.255 (-0.04), Euro @ $1.0634, JPY @ $137.74, INR @ 82.845



*Today's Corporate Action*
*16th Dec Ex Date*



APCL
Right Issue of Equity Shares 
CLEDUCATE
Bonus issue 1:1  
GLOSTERLTD
Bonus issue 1:1  
LANCER
Stock  Split From Rs.10/- to Rs.5/-
STARHFL
Bonus issue 1:1  
STARHFL
Stock  Split From Rs.10/- to Rs.5/-
STCORP
Stock  Split From Rs.10/- to Rs.2/-
THAMBBI
Right Issue of Equity Shares 




*Today's Key Results/Board Meetings*
*16-Dec-22*



ADVANIHOTR
Interim Dividend;General
EVANS
Increase in Authorised Capital;General
JAIHINDS
General    
MURUDCERA
Issue Of Warrants  
SHREESEC
Stock  Split



*Stock under F&O ban on NSE*
*16-Dec-22*




1 BHEL
2 DELTACORP
3 GNFC
4 IBULHSGFIN
5 IRCTC
6 PNB

India Daybook – Stocks in News


*Deepak Fertilisers:* Board gives in-principle approval to the scheme of arrangement between STL, DMSPL & MFTPL (Positive)

*SJVN:* IREDA signs Rs 4,450 cr loan pact with SJVN Green Energy for 1,000 MW solar project at Bikaner (Positive)

*Wipro:* Company has been selected by Mazda Motors Logistics Europe for application transformation in a five-year, multi-million Dollar deal (Positive)

*Reliance Industries:* Reliance Consumer Products launches FMCG brand ‘Independence’ in Gujarat. Reliance Digital Health to buy 2.25% stake in Synchron (Positive)

*Shriram Transport:* Company’s board to consider interim dividend, fund raising on December 24. (Positive)

*Alkem Labs:* Company gets US FDA nod for Lurasidone Hydrochloride used to treat the symptoms of Schizophrenia. (Positive)

*KPI Green:* signs long-term Power Purchase Agreement (PPA) for sale of 7.50 MW solar power with Tata Motors (Positive)

*Hindustan Foods:* To Acquire a pharmaceutical factory further expanding its Health Care & Wellness Division (Positive)

*Max India:* Ace investor Porinju Veliyath bought 2.3 lakh shares in the company (Positive)

*Kajaria:* The company has executed a joint venture agreement between subsidiary Kajaria International DMCC, UAE, and AL Rathath Marble Factory LLC, UAE (Positive)

*HDFC AMC:* Life Insurance Corporation of India has increased its stake by buying additional 2.03 percent stake (Positive)

*Ramkrishna Forgings:* Company to buy up to 51% of TSUYO Manufacturing in phases (Positive)

*Oil upstream companies:* Government revises Windfall Tax on crude petroleum from ₹4,900/t to ₹1,700/t (Positive)

*Oil Marketing PSUs:* Government cuts excise duty on petro to zero and cuts duty on ATF (Positive)

*Petronet:* Company will set up a floating LNG receipt facility at Gopalpur port in Odisha at Rs 2,306 crore (Positive)

*Hindustan Petroleum:* Board approves raising up to `10,000 cr via NCDs on a private placement basis (Neutral)

*Delhivery:* To Be Added to the FTSE All Cap Index Adjustment for the same will take place (Neutral)

*Sapphire Foods:* Promoter entity Sapphire Foods Mauritius offloaded 39 lakh shares in Sapphire Foods (Neutral)

*Himatsingka Seide:* Company said its board members have approved issuance of securities in one or more tranches, worth up to $13 million (Neutral)

*Max Healthcare:* Company approved providing funding of up to Rs 300 crore to its wholly owned arm Max Hospitals (Neutral)

*GMM Pfaudler:* Promoter to sell 1.34 cr shares (29.88% equity) via BlockDeal: Media Sources

*FSN E-Commerce:* Foreign investor Kravis Investment Partners II LLC sold 3.67 crore shares

*Repco Home:* Apax Global Alpha sold 3.64 lakh shares in the company

EQUITY FLOWS IN EMERGING MARKETS, FOLLOW TELEGRAM.ME/ALLIESFIN

LAST HALF N HOUR CRUCIAL.
WEEKLY CLOSING,
FTSE REBALANCING,
PROFIT BOOKING,
SECTOR ROTATION,
NEWS LINED UP...

*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 16-12-2022 :*

*FIIS F & O : RS. CRS. :*

*TOTAL NET BUY : +2633* 😄

*INDEX FUT. : +513*

*INDEX OPT. : +1834*

*STOCK FUT. : +266*

*STOCK OPT. : +20*

*SEC. IN F&O BAN FOR, 19 DEC, 2022 :*

*1. BHEL 2. DELTACORP 3. GNFC 4. IBULHSGFIN 5. PNB 6. IRCTC 7. BALRAMCHIN*

*ADDITION : BALRAMCHIN*
*DELETION : NIL*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 16-DEC-22 : (Rs. CRS)*

*FIIS : SELL -1,975 (10,602-12,577)* 😢

*DIIS : BUY +1,542 (7,954-6,412)* 😄

*BSE SENSEX : -461 (61,338)🔽*

*NSE NIFTY : -146 (18,269)🔽*

*BSE MIDCAP. : -376 (25,740)* 🔽

*BSE SMLCAP. : -285 (29,517)* 🔽

*B. CRUDE : $ 78.73* 🔽 😄

*GOLD: $1789=INR 53,850(10gr)* 🔼 🙂

*SILVER : RS. 69,900 (kg) (5pm) 🔼 🙂*

*FOREX : RS. : $ 82.87* 🔽 😔

*7.26% GOI '32 : 7.2768%(99.87)*🔼 😔

*7.54% GOI '36 : 7.3965% (101.20)* 🔼 😔

Scrips moving from A group to B and vice versa.

Accenture Q1FY23 results
Accenture Reports Strong First-Quarter Fiscal 2023 Results
-- Revenues are $15.7 billion, an increase of 5% in U.S. dollars and 15% in local currency --

-- Operating margin expands 20 basis points to 16.5%, with operating income increasing 7% to $2.59 billion --

-- EPS are $3.08, an 11% increase from $2.78 for the first quarter of fiscal 2022 --

-- New bookings are $16.2 billion across consulting and managed services with both at $8.1 billion --

-- Company declares quarterly cash dividend of $1.12 per share, up 15% from a year ago --

-- Accenture updates business outlook for fiscal 2023; raises EPS to $11.20 to $11.52; continues to expect revenue growth of 8% to 11% in local currency; and now expects foreign-exchange impact of negative 5% -

New Bookings

New bookings for the first quarter were $16.22 billion, a 3% decrease in U.S. dollars and a 6% increase in local currency from the first quarter last year.

Consulting new bookings were $8.11 billion, or 50% of total new bookings.
Managed Services new bookings were $8.11 billion, or 50% of total new bookings.
Revenues by Geographic Market

Revenues by geographic market were as follows:

North America: $7.62 billion, an increase of 10% in U.S. dollars and 11% in local currency compared with the first quarter of fiscal 2022.
Europe: $5.07 billion, a decrease of 0.5% in U.S. dollars and an increase of 17% in local currency compared with the first quarter of fiscal 2022.
Growth Markets: $3.05 billion, an increase of 3% in U.S. dollars and 19% in local currency compared with the first quarter of fiscal 2022.
Revenues by Industry Group

Revenues by industry group were as follows:

Communications, Media & Technology: $2.98 billion, an increase of 3% in U.S. dollars and 11% in local currency compared with the first quarter of fiscal 2022.
Financial Services: $2.96 billion, an increase of 2% in U.S. dollars and 13% in local currency compared with the first quarter of fiscal 2022.
Health & Public Service: $3.00 billion, an increase of 10% in U.S. dollars and 15% in local currency compared with the first quarter of fiscal 2022.
Products: $4.67 billion, an increase of 4% in U.S. dollars and 15% in local currency compared with the first quarter of fiscal 2022.
Resources: $2.14 billion, an increase of 10% in U.S. dollars and 21% in local currency compared with the first quarter of fiscal 2022.

Business Outlook

Second Quarter Fiscal 2023

Accenture expects revenues for the second quarter of fiscal 2023 to be in the range of $15.20 billion to $15.75 billion, an increase of 6% to 10% in local currency, reflecting the company’s assumption of an approximately negative 5% foreign-exchange impact compared with the second quarter of fiscal 2022.

Fiscal Year 2023

Accenture’s business outlook for the full 2023 fiscal year now assumes that the foreign-exchange impact on its results in U.S. dollars will be approximately negative 5% compared with fiscal 2022; the company previously expected a negative 6% foreign-exchange impact.

For fiscal 2023, the company continues to expect revenue growth to be in the range of 8% to 11% in local currency.

Accenture continues to expect operating margin for the full 2023 fiscal year to be in the range of 15.3% to 15.5%, an expansion of 10 to 30 basis points from fiscal 2022

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GST on husk of pulses reduced to 5%; tax on ethyl alcohol or biofuel down to 5% ##GST Council Meeting Live Updates | GST on husk of pulses reduced to 5%; tax on ethyl alcohol or biofuel down to 5%


-No tax increase on any item was announced at today's meeting. Revenue Secy said GST on online gaming and casinos was not discussed as the report of GoM on the issue submitted its report only a couple of days back. The report of the GoM was not even circulated to GST Council members, he added.


-GST reduction on husk on pulses was announced. Tax on husk reduced to nil from five percent. Ethyl alcohol or biofuel- supplied to refineries for blending with motor spirit (petrol) down to five percent from 18 percent.

Dec 13 post
https://telegram.me/A1GuruKulam/7103
Was it profit booking hint ?
And
Markets too it seriously 😳