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The Reserve Bank of India did not immediately respond to a request for comment. The sources were speaking to Reuters and declined to be named because they were not authorised to speak to the media. Shares in Adani group of companies plunged on Thursday after the tycoon Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses.

"If borrowings are going to be low, there is nothing wrong with debt. There is a great push for equity. Real estate people were putting money in cycles –. sell one property and buy another. That has been capped for large amounts. So government is pushing towards financialisation. So every asset class is taken care of and every individual has something to take home. "

"Gold and silver traded sharply higher in the domestic markets post the Union Budget announcement, where import duty on gold remained unchanged while an increase in import duty on silver was affected. In the international markets, both the bullions logged gains and closed at their daily highs in view of a slight increase in the interest rate by the Federal Reserve that was widely expected.," said Rahul Kalantri, VP-Commodities, Mehta Equities.

Nomura said the RBI will likely view the budget in a positive light and as growth supportive, owing to an increased public capex and directional fiscal consolidation with low risk for generating fresh inflationary pressures.

Hindustan Aeronautics, incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 79218.07 Crore) operating in Defence sector.

However, delay in ordering of 3rd and 4th Akash regiment is the main risk for order-book accretion.

A total of 3,685 shares changed hands on the counter till 11:12AM (IST).

Following allegations made in the Hindenburg report against the Adani-led conglomerate, ACC shares had hit a record low of Rs 1,733.30 last week. Ambuja Cements, on the other hand, has already fallen 41% from its 52-week high.

The U.S. central bank announced an expected 25 basis points interest rate increase after a year of larger hikes and said it had turned a key corner in the fight against a high inflation rate. But policymakers projected "ongoing increases" in borrowing costs would still be needed.

"For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Adani said in a message to shareholders.