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Promoters held 28.06 per cent stake in the company as of 31-Mar-2022, while FIIs owned 18.1 per cent, DIIs 11.38 per cent.

Business trajectory admirable but longish runway still remains for bottomline profitability.

“Steel prices should correct around Rs 8,000 to Rs 10,000 per tonne from the current levels of Rs 69,000 and steel margins for integrated players who have captive iron ore and coal should correct by around Rs 8,000-9,000 per tonne whereas the non-integrated guys who are buying iron ore have an advantage because iron ore prices will come down. So, for them, the margin compression will be Rs 7,000.”

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 623585.90 crore) operating in IT Software sector.

The Nikkei rose as high as 27,047.47 shortly after the open - approaching a one-month peak - but then sank into the lunch break, only to rally back to near the high into the close. It pared some gains to end 0.98% higher at 27,001.52.The broader Topix followed a similar path to end 0.92% higher at 1,894.57.

A total of 21,948 shares changed hands on the counter till 01:24PM (IST)

Analysts noted that OMCs have been losing money on the sale of petrol, diesel, and LPG. They believe the excise cuts should give OMCs a headroom to hike fuel prices and partially recover their under recoveries. The freeze in fuel prices in the March quarter, despite escalating global oil prices, most likely owing to state elections, led to steep under-recoveries for oil marketing companies (OMCs), said Nomura India.

The brokerage maintained REDUCE rating on Shree Cement, with a revised SOTP target price of Rs 22,200/share. In Q4FY22, Shree’s performance disappointed as it missed ours/consensus EBITDA estimates by ~14/11% on lower-than-estimated pricing and higher-than-estimated input costs.

The quota for retail bidders was subscribed 1.25 times, whereas the allocation for non-institutional bidders was subscribed merely seven per cent. The qualified institutional buyers did not participate in the book-building process so far.

Market experts believe that the latest correction in the equity market gives a meaningful entry point to investors. They also suggest investors allocate funds aimed to diversify their portfolios. Domestic equity markets have seen a sharp correction in the last few weeks, following the geopolitical uncertainty, rate hikes and rising inflationary worries.