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High raw material costs limited the margin gains even as the company spent less on advertising during the quarter. The raw material cost grew 5% on year and constituted 49.6% of the revenues, driven by inflation in tea and crude palm oil prices. The company's ad spends declined 15% on year with these spends standing at 9.5% of net sales.
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News and Media
Nineteen out of 64 non-banking stocks have plunged between 40% and 55% from their yearly highs, while another 28 have declined by 30% to 40%. Overall, 64 state-owned corporates have lost nearly 8 lakh crore in market capitalisation since August 1, the day the BSE PSU index hit an all-time high.
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News and Media
Traders said the next key level would be 84.15 per dollar. That was the weakest level in the non-deliverable forwards (NDF) market, which was touched a month ago.
Category:
News and Media
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