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“We have to be careful, though we do not paint everything with the same brush, we will take a look at each of the companies separately and then decide. Mostly we are holding in our portfolios if there is any PSU, that would be mainly into banks. We have not entered other PSUs in our portfolio.”

When Nykaa was listed Zomato, Paytm, all of these were highly loss-making and none of them had a clear path to profitability. Nykaa, Info Edge and EaseMyTrip were the very few digital platforms that could actually make money. When listed market participants were trying to value companies, it was a lot easier to value a company which was profit making.”

“We are also looking at some of the diagnostic companies, because we believe that the worst is behind now. They had seen a crash in their margins over the last one and a half years and now with all this competition so many players have come in finally, it seems that companies are settling down.”

From the Sensex stocks, Tata Steel, JSW Steel, Wipro, SBI, and Tech Mahindra opened with gains, while only HUL, ITC, and UltraTech Cement opened with cuts.

On the weekly options front, the maximum Call OI is placed at 20100 and then towards 20200 strikes while the maximum Put OI is placed at 20000 and then towards 19900 strikes.

On Comex, Gold futures were trading at $1,934 per troy ounce on Thursday, down by $1.10 or 0.06% while Silver futures were at $23.215, higher by $0.187 or 0.800%.

The issue, which closes on September 18, comprises a fresh issuance of equity shares worth Rs 1,200 crore and an offer for sale (OFS) of up to 1.35 crore equity shares.

The whole transaction with Sumitomo will be completed in two phases including the first tranche of Rs 4,675 crore.