Highlights of 9th January '23 Fundamental Weekly Podcast

- BSE-30 and Nifty-50 witness some correction.

- BSE IT index declined by ~2% this week, ahead of the start of Q3FY23 results from the coming week.

- FII continues to be net seller to the tune of Rs. 7813 crore, till date in Jan’23.

- GST collections for November (collected in December) stood at Rs.1,495 bn (October: Rs.1,459 bn).

- PICK OF THE WEEK – M&M - TARGET - Rs. 1435 - M&M + MVML reported 2QFY23 EBITDA of Rs. 25 bn (+50% yoy), which was 7% above our estimates due to better-than-expected gross margins.

- We believe the company is well-positioned to deliver strong EPS CAGR over the coming years.

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