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The company and its shareholders plan to raise Rs 472 crore from the primary market. The issue consists of issuance of fresh equity shares of Rs 375 crore and offer for sale (OFS) of up to 11.08 lakh equity shares by existing shareholders and promoter aggregating to Rs 97.3 crore.

“Normally people link slippages with the subsequent provisions but in our case we have got a situation where we start providing even before the slippages are reckoned which means that earlier sign of stress is also being very carefully monitored and appropriate actions are taken to insulate the balance sheet from any future shock.”

The profit figure was sharply lower compared with an ET Now analysts’ poll projection of Rs 560 crore.

As of 31-Mar-2022, promoters held 38.17 per cent stake in the company, while FIIs held 33.99 per cent and domestic institutional investors had 11.9 per cent.

While the bottom-up outlook remains positive from most Services, Software and SaaS names YTD, and the tech spending cycle remains buoyant structurally, we feel there are more downside risks to current earnings assumptions

A total of 16,903 shares changed hands on the counter till 01:34PM (IST).

"We are seeing a momentary dip in the NFT market. However, from a 30,000 feet perspective, the industry is unfazed and continues to build. We will see pivots and evolving use cases within the industry. Web 2.0 vs. Web 3.0 take rates vary greatly with Web 3.0 offering fairer economic terms."

On the technical charts, the 200-day moving average of the stock stood at Rs 342.74.

Nikkei is relatively firm as it has not touched a bottom hit in March. That is because in part the weaker yen makes Japanese shares look cheaper and lifted corporate profits.With U.S. shares losing momentum, it was hard for Japanese shares to rise," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute.

Analysts said cigarette volumes and profits were both better than forecasts, and the beat in FMCG was driven by both growth and margin. They find ITC attractive also because of​ solid growth in other segments and 4-5 per cent dividend yield.