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The stock quoted a 52-week high of Rs 430.7 and a 52-week low of Rs 291.65.

A total of 2,493 shares changed hands on the counter till time (IST).

"It is not so much a question of levels. Right now, they have cash on their books and it does seem like finally they may at some stage stop losing money. These are the two major things – a business which is not losing money and cash on the books. There will be a floor at which Paytm will stop falling."

“We are already one month into the process or the news flow on the Adani group. A lot of water has flown under the bridge. I do not know whether this is the end of the news flow but I would say that markets over a period of time, as has been the history and I would say experience earlier, tends to sort of make it less and less relevant as we move forward.”

The Nifty50 index rose 103 points or 0.60% to 17,407, while the S&P BSE Sensex surged 346 points or 0.59% to 59,308, as of 9.22 am.

“We cannot say the worst is behind because still there is a lot of uncertainty but it is coming to an end, so maybe things like chemicals, pharma where the margin trajectory is likely to improve as the inventory rationalisation happens. In metals, there will be slight improvement because again their inventory cost will go down. In certain sectors like autos, we have already seen where the cost rationalisation has already happened.”

Based on the idea of Graham, a custom screen made by MarketSmith emphasizes securities that are cheap on a PE and price-to-book basis but still show signs of financial stability.

"Only Bitcoin and Ethereum are two tokens which have survived more than one bull market and that is very interesting. That means when the bear market comes, the previous heroes do not remain heroes anymore. This time, barring Luna and FTT, we have not seen the demise of any major tokens and that worries me."

The auto components maker has fixed a price band of Rs 560-590 per equity share and at the upper end, the public issue is expected to fetch around Rs 412 crore. The shares are expected to get listed on the exchanges on March 14.

As of 31-Dec-2022, promoters held 50.53 per cent stake in the company, while FIIs held 18.32 per cent and domestic institutional investors had 9.26 per cent.