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“From a bounce back perspective, IT could very well be a surprise. This sector was the first one to get weak and was under bear control. It broke its 200-day moving average earlier than the broader market. Infosys can be bought with a Rs 1,500 as a stop loss. As of now, IT can do well and this bounce back should take us slightly higher both on the Nifty as well as on the Bank Nifty.”

Jhunjhunwala upped his stake in the bank in March quarter to 1.96 per cent from 1.6 per cent in December quarter.

As of 31-Mar-2022, promoters held 43.49 per cent stake in the company, while FIIs held 35.03 per cent and domestic institutional investors had 2.18 per cent.

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A total of 18,541 shares changed hands on the counter till 01:39PM (IST).

Centrum Broking expects adjusted profit after tax (PAT) to decline about 19 per cent compared to the corresponding quarter last year to Rs 1,040 crore. It expects revenue to rise about 14 per cent in the same period. The broker further expects Ebitda to decline over 10 per cent with margins shrinking by about 14 percentage points.

CoinDCX Ventures has already made several investments in the space including a wallet solution, cross chain bridge protocol, Web3 notification protocol, Web3 social engine, as well as distributed storage and computing protocol.

“Our broad view is that 2022 is a tough year and one should protect capital; do not be in stocks where you are not sure of your earnings, high growth and buying stocks at any price have to be avoided. I do not think there is any hiding place but that is broadly the view. However, we continue to be bullish on commodities and financials.”

“Our advice to clients has been to stay away from commodities and those companies which are consuming commodities but are unable to pass on the cost. That policy has paid up because those companies have been going at higher valuations and in this market when the money is taking a dollar flight, a selloff is happening in premium valuation.”