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The crypto industry and players cheered the update from the central official and are hopeful of some positive news from the government. Many expect that the government will ensure steps to support the ecosystem.

“The EBITDA per ton will definitely be maintained because of the input costs. The iron ore prices have come down, coking coal prices have come down, some of the other consumables prices have come down and all this will definitely add to overall EBITDA.”

“One of our favourite themes is domestic travel and tourism. What the last two year-three years’ trend has done is especially led by Covid, we are seeing people spending more rather than saving the entire upfront. Whether one looks at hotels, flights or other ancillary to travel and tourism, the outlook is very positive. The third is the auto sector. After three-five years, they are making new highs when the market is nowhere closer to new highs.”

Last hour-selling, lacklustre trend among Asian peers, surge in crude oil prices and inflation worries reigniting pace of monetary tightening also dented sentiments.

Ebitda margins improved to minus 47.2 per cent (minus 14.8 per cent excluding ESOP expenses) in the March quarter, a sequential improvement over minus 86.4 per cent (down 24.8 per cent excluding ESOP expenses) in the December quarter.

“If the government is taking steps to cool down inflation which affects their fiscal position and that leads to additional market borrowing, then unless RBI comes out with open market operations from the demand side to support the bond markets, the 300 bps premium gap will not come off. For RBI, the challenge is that on the one hand they are doing the CRR hike to control liquidity surplus and on the other hand they will do OMO purchases to increase liquidity.”

Top crypto assets to keep you going with your investments amidst a shaky year for crypto.

Analysts tracking the grey market said that lower subscription figures, coupled with muted listings for the recent issues and dented sentiments for the secondary market are the major lags for the next listing contender.

“In comparison, tractor volumes are lower sequentially due to a high base, and there is some hit on farmer sentiments due to the reduction in wheat crop realizations on account of government restrictions on exports,” he added.

Gulf issuers have raised more than $10 billion from IPOs so far this year, Refinitiv data shows, exceeding European flotations even as global markets remain volatile in the wake of the conflict in Ukraine.