Mahindra and Mahindra Financial Services said on Wednesday the Reserve Bank of India lifted curbs placed on the company last year that had prevented it from using third-party services for loan recovery.
Euro zone government bonds likewise extended their rally from the first two trading days of 2023, with the benchmark German 10 year yield sliding 10 basis points on signs central banks are making progress against inflation.
However, Marico expects gross and operating margins to improve in the quarter as key input costs and consumer prices across key franchises saw some stability.
The Nifty Auto index closed 0.81 per cent down at 12512.05.
The 30-share BSE Sensex closed down 636.75 points at 60657.45
Option data suggests a broader trading range between 17,800 and 18,500 zones with an immediate trading range between 17,900 and 18,250 zones.
The Nifty IT index closed 0.98 per cent down at 28677.8.
The company’s clients include foreign, private, and public sector banks, and the end-user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, according to information available on the firm’s website.
The 30-share BSE Sensex closed down 636.75 points at 60657.45
Meanwhile, Brent crude futures dived for a second straight session, to a two-week low, on growing concerns about weak global economic conditions hitting demand. [O/R]