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"We believe a much closer analysis is required before reaching a decision. This is because price volatility is a given when it comes to equities. But, the important aspect here is that prices of good businesses may fall due to market factors, but eventually will tend to recover. So, the need here is to identify businesses that have been resilient in tough market situations and has the capacity to mitigate the impact of rising inflation and interest rates."

“After the IL&FS crisis, a lot of companies and NBFCs and us in particular, have strengthened capital. Our capital adequacy ratio today is almost 40% so that if there is any uncertainty, we should be able to weather the storm and grow further. Size is becoming more and more important because the operating costs can be spread out and the stronger companies will become stronger, increasing profitability.”

The global cryptocurrency market cap was trading sharply lower at the $1.53 trillion mark, falling about 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 14 per cent to $98.63 billion.

The rupee weakened past the 77/$1 level and was last trading at 77.1325/$1. The Indian currency had closed at a record low of 76.98 on March 7.

“We are in a very good credit turnaround cycle; credit demand should pick up, credit cost will come down and we should have bumper profit growth coming from the banking sector as a whole and valuations are reasonable. We have some kind of tailwind in the economy except for this war and inflation.”

Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 18321.39 Crore) operating in Industrial Consumables sector.

​​The BSE Sensex slipped below the 54,000 mark briefly while the Nifty50 also tested 16,150 before seeing some recovery.

Gold futures on MCX dropped marginally by 0.10 per cent or Rs 54 to Rs 51294 per 10 grams. Meanwhile, silver futures were trading lower by 0.24 per cent or Rs 148 at Rs 62,400 per kg.

"The demerger process of Shipping Corporation of India (SCI) is on. We are going to hive off all the real estate of the company. So they will not be part of the privatisation process," a senior government official told ET.

On Thursday, Reuters cited sources and a document saying the bank was looking to reduce the number of branches by 600, or 13% of the total, by either shutting or merging loss-making branches by the end of March 2023.