Domestically, high frequency data seems to indicate continuing pick up in industrial activity. Markets expect rising gross margins for consumption-oriented companies from Q1 FY24 onwards, thanks to moderating inflation data.
The government will sell a 3% stake in Hindustan Copper through an OFS at Rs 514 per share, with an option to divest another 3%.
Iran’s currency has plummeted to a staggering 2.02 million rials against the US dollar, reflecting deepening economic strain as Washington gears up for more sanctions.
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