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On the technical charts, the RSI of the stock stood at 43.58.

Promoters held 38.15 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 17.77 per cent and 6.23 per cent, respectively.

India’s largest mortgage lender will raise 250 billion rupees ($3 billion) selling notes due in a decade at a coupon of 7.97% on Friday, according to people familiar with the matter. The proceeds will be used to support its housing finance business, said the people, who asked not to be identified discussing confidential information

We like the company’s strategy of penetration-led growth, focus on the international market, increasing distribution reach, timely capacity addition to supporting the growth, new product launches, and acquisition of the Kohinoor brand. We expect Adani Wilmar to benefit from the recent uptick in demand," it said.

The Relative Strength Index of the stock stood at 43.64 on Thursday.

On the technical charts, the 200-day moving average of the stock stood at Rs 1563.15.

A total of 567,085 shares changed hands on the counter till 01:22PM (IST)

The Nifty Auto index was trading 0.31 per cent up at 13276.45.

The brokerage maintains its REDUCE rating on the stock with target price of Rs 7.5/share based on EV/EBITDA of 9.5x on FY24E.

However, the telecom operator continued to lose subscribers. Its subscriber base as of December 31 was 228.6 million, compared with 234.4 million a quarter ago. The total number of data subscribers for the company was steady at 135.3 million at the end of the December quarter