The filing said that Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan have been appointed as directors on the board of RRPRH, and Prannoy Roy and Radhika Roy have resigned.

Stocks that were in focus include names like Aditya Birla Capital which was up over 5%, Bank of India which gained nearly 3%, and IDBI Bank which hit a fresh 52-week high to close with gains of over 2% on Tuesday.

With the increasing share of the warehousing model, the company’s inventory days are elevated. In the previous three fiscal years, it had inventory days of 131-145. A high client concentration may affect financials if the business momentum from large clients moderates.

Western sanctions have crippled supplies of some crucial products in Russia. Airlines are experiencing an acute shortage of parts because almost all planes are foreign-made. Car parts are also in demand, with global automakers having left the market.

The Reserve Bank of India and Competition Commission of India had already approved the takeover.

The S&P 500 fell 0.3 points, or 0.01%, at the open to 3964.19​

Despite the year seeing a sharp depreciation in the rupee amid the weak global macroeconomic conditions, the combined wealth of India’s 100 richest people grew $25 billion to touch $800 billion in 2022, according to Forbes India

The 30-share Sensex ended 177 points higher at 62,682, while its broader peer Nifty 50 ended above the 18,600 level after touching a new peak of 18,678

The month of November was not good but for many of its index constituents, as 9 stocks, including M&M, SBI, Bharti Airtel, L&T, and ICICI Bank scaled their respective lifetime highs.

“I do not think we can keep getting PE expansion at the expense of earnings growth. So, earnings growth is one of the key factors. The other key factor would be any kind of move towards peace in Russia and Ukraine because that will bring down oil prices very quickly Continue Reading