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Analysts of IIFL Capital Services cut their EPS estimates by 2% for FY25/FY26 to factor in the slower-than-expected margin recovery, as the company intends to increase its brand investments to 8-10% range in medium term

Spot gold was dormant at $1,924.29 per ounce. At $1,946.10, U.S. gold futures were stable.

Analysts of IIFL Capital Services also highlight runaway growth in Personal loans (27% 4yr Cagr and 36% YoY in FY23) as an area of concern.

Brent crude futures had increased by 5 cents, or 0.1%, to $93.98 per barrel, while U.S. West Texas Intermediate crude had increased by 15 cents, or 0.2%, to $90.92 per barrel.

The euro increased by 0.11% to $1.0667 while the dollar index was slightly lower at 105.23. Sterling last traded at $1.2397, up 0.06% for the day.

During the IPO subscription period, which ran from September 6-8, the offering garnered significant interest from investors, with an overall subscription rate of 63.72 times.

Investors with very high risk appetite and want to invest for 5 to 7 years to diversify the portfolio in pharma sector should invest in HDFC Pharma and Healthcare Fund.

It looks like the enthusiasm on the start-up lane is building momentum; and it is building really fast.

In the latest weekly coverage on mutual fund NFOs, we cover the Bandhan Retirement Fund..

FPIs again net sellers in week to September 15, 2023