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The issue, which kicked off for subscription earlier today, can be subscribed till Thursday, May 12. The company is selling its shares in the range of Rs 595-630 apiece.

Damodaran feels Fed now finds itself between a rock (more inflation) and a hard place (a recession), and the truth is that everyone will suffer and feel the pain as a result.

Promoters held 45.0 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 19.88 per cent and 8.28 per cent, respectively.

Santosh Meena, Head of Research, Swastika Investmart, said the company’s muted listing can be attributed to volatile and negative market sentiments and a lack of investor interest in hospital businesses.

“When the rupee depreciates, given the fact that we still import large volume of oil, that will impact oil price and directly as well as indirectly – through transport – we are going to see the impact of that on inflation. It is never good news because inflation will start hitting not just our export competitiveness but also our growth potential. So sharply depreciating rupee is not good news at all,” says Mythili Bhusnurmath.

Revenue from operations of the company went up by 42.62 per cent during the quarter under review at Rs 2,075.62 crore compared to Rs 1,455.25 crore in the same period of the previous fiscal, PTI reported.

A total of 19,198 shares changed hands on the counter till 10:45AM (IST).

The partially convertible rupee opened at 77.3660/$1 as against the record closing low of 77.4650/$1 on Monday. Yield on the 10-year benchmark bond was last at 7.37 per cent as against 7.46 per cent at previous close. Bond prices and yields move inversely.

The company’s share price climbed to a high of Rs 824.40 as against Rs 757.20 at previous close on the BSE.

While crypto enthusiasts view Bitcoin as a hedge against inflation, an influx of more traditional investors tend to view it as a riskier asset, particularly to its fall in tandem to the tech-heavy Nasdaq, leading to correlations between the two.