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“A sectoral rotation is going on. Pharma and realty are seeing much more delta which has been lagging in the consumer space. I still think the wedding season and the impetus going forward will see these stocks regain their momentum but like I said, earnings may have priced in the best for some time.”

The Relative Strength Index of the stock stood at 61.75 on Wednesday.

Can Fin Homes Ltd., incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 10342.08 Crore) operating in NBFC sector.

At 10:42 am, the Rs 3,042 crore IPO was subscribed 1.21 times. The quota reserved for qualified institutional buyers was subscribed about 2 times, non-institutional investors 1.25 times. The portion reserved for shareholders of parent entity Tata Motors 1.26 times while the retail quota was subscribed 86%.

A total of 3,924 shares changed hands on the counter till 11:01AM (IST)

"If we were to look at consensus earnings estimates for FY24/FY25, this number has been upgraded with each passing quarter depicting the resiliency of earnings. We expect earnings resiliency to continue and be supportive of the markets in general. Banking has been trailed by the broader indices despite strong earnings and trade at reasonable valuation; we expect it to do well."

Tata Tech IPO: Analysts advise investors to subscribe to the issue over fair pricing, strong brand presence and strong financials. "Considering the growth opportunities and strong fundamentals of Tata Tech, we recommend a Subscribe rating for this IPO," said Ventura.

Celsius declined to comment on Tuesday. The SEC did not immediately respond to a request for comment.