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The company last month demerged its flagship brand RedTape into a separate entity. As per the demerger agreement approved by the National Company Law Tribunal, shareholders of Mirza International received one fully paid-up equity share of RedTape, with a face value of Rs 2, for each unit they held in Mirza International.

Companies with high promoter holding stocks are considered to be safer to invest in, compared with those with relatively lower stakes.

The current rally in the Indian market will be driven by the domestic sector, according to a statement by Rahul Chadha of Mirae Asset Global Investments. Investors should take a medium-term view as the next three to four months would be challenging due to the US economy slowing down which would affect the export sector. Although India’s luxury market is on an uptick, there are not many plays in that segment. Rremain invested in the Indian market by looking for entry points in the challenging times.

A total of 133,023 shares changed hands on the counter till 12:19PM (IST).

Aarti Industries, incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 20041.04 Crore) operating in Pharmaceuticals sector.

HDFC Life Insurance shares surges to Rs 554.6 after the Reserve Bank of India permitted HDFC Ltd or HDFC Bank to hike their shareholding in HDFC Life and HDFC ERGO above 50% before the effective date of the merger. HDFC Bank CFO Srinivasan Vaidyanathan states that there were no guidelines on whether this action had to be achieved through fresh fund infusion or purchases from the market.

The stock quoted a 52-week high price of Rs 112.8 and a 52-week low of Rs 83.0.

The Nifty Bank index was trading 0.58 per cent up at 42362.2.

Brokerage Sharekhan estimates the topline to decline 11% quarter-on-quarter, while margins are seen contracting by 72 bps. However, revenue is expected to rise on a year-on-year basis, led by higher ASP on the back of a higher share of three-wheelers in the product mix.

"For markets to move higher, we need to be convinced that the interest rate cycle has peaked out. Once I am convinced about that. There are still people who doubt that because of the RBI commentary, but I think the bar for them to increase rates further is so high now that it will be virtually impossible for them to do that. So that should be supportive overall."