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“The Rs 8 decline in excise duty of petrol times the VAT rate of every state will basically be the decline automatically, and not because of any conscious decision. That is the part that has to be clarified. States like Maharashtra, Rajasthan have not consciously cut VAT rates on fuel.”

On Monday, the company announced that it accepted the resignation of Chief Executive Officer Dinesh Kumar Lodha and Chief Financial Officer Ramesh Agarwal. Both resignations will be in effect from May 31. The company reported a 25 per cent drop in the net profit to Rs 49.3 crore in the quarter ended March 31, 2022, as against a net profit of Rs 65.9 crore in the same period previous year.

As of 31-Mar-2022, promoters held 39.99 per cent stake in the company, while FIIs held 34.31 per cent and domestic institutional investors had 4.19 per cent.

Bitcoin is just not attractive to retail investors right now. Nobody really sees that potential for bitcoin to give out 10 times (return)," said Joseph Edwards, head of financial strategy at fund management firm Solrise Finance.

Revenues of the company during the fourth quarter of last fiscal increased marginally to Rs 455.5 crore as against Rs 454 crore in the similar previous corresponding period.

A total of 92,586 shares changed hands on the counter till 11:42AM (IST).

Net-net, a few brokerages tracking IHCL expect 21-28 per cent upside on the stock in the next 12 months, following a 31 percentage points outperformance over the benchmark Sensex so far in 2022.

Losers included Hindustan Unilever, which fell 2.36 per cent to Rs 2,323.85. ITC, Bharti Airtel, TCS Infosys and Titan Company fell up to 0.5 per cent.

Power Grid Corporation of India Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 157680.11 Crore) operating in Power sector.

Gold futures on MCX were trading flat, up 0.02 per cent or Rs 9 up at Rs 50,916 per 10 grams. Similarly, Silver futures added merely 0.03 per cent or Rs 18 at Rs 61,321 per kg.