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India's corporate earnings for Q2FY25 showed an 8% YoY PAT growth for the BSE500, excluding oil marketing companies. However, weak demand and fading margin tailwinds have led to a 3% cut in FY25 EPS estimates. Cement, metals, and energy sectors faced challenges. The outlook for H2FY25 hinges on government spending and rural demand recovery.
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Nifty opened positive but faced profit booking, closing at 23,519. Analysts expect support at 23,350 and resistance at 23,780, with increased volatility from geopolitical tensions.
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The fund house had an AUM of Rs 7.84 lakh crore in October 2024, managing 132 mutual fund schemes.
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