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Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.

The operating profit during the January-March quarter grew sharply to Rs 158 crore from Rs 57.59 crore in the year-ago period.

Edelweiss sees revenues rising 13.2 per cent to Rs 54,438 crore from Rs 48,088 crore YoY. It sees profit rising 25.8 per cent to Rs 4,299 crore from Rs 3,417.30 crore. Margin is seen at 12.9 per cent from 13.3 per cent in the year-ago quarter, the brokerage said.

“The key channels of impact will likely be higher inflation, weaker consumer demand, tighter financial conditions, the adverse impact on business sentiment, and a delay in capex recovery. On the other hand, a positive resolution of geopolitical tensions and decline in global commodity prices would improve the domestic and external demand outlook.”

Investors returned to lap up the shares following a correction in the stock. In eight sessions, wherein it touched the lower circuit for six, shares of Adani Wilmar tanked nearly 35 per cent.

Bitcoin accounts for nearly $600 billion of that value, followed by ethereum, with a $285 billion market cap.

“Demand destruction is happening at a much faster clip and margins are getting squeezed. Overall, I am not too confident that steel would do too well now. The only plus point is that balance sheets have been repaired and stocks are not looking that expensive. So, a gradual decline is likely.”

The initial share-sale comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of 20,066,269 equity shares by promoters and existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.

Currently, CIS rules do not mandate minimum number of investors, maximum holding of a single investor or minimum subscription amount.

“There are various models for investing in technology and the most relevant one at this moment would be the Gartner model which talks about triggers for innovation. Then the peak of inflated expectations happens and followed by the trough of disillusionment which is what we are seeing now. It is typically followed by the slope of enlightenment. We will finally reach the plateau of productivity,”