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Edelweiss expects the cement stock to outperform going ahead given the undemanding valuations of 10.9 times 2022 and 8.8 times 2023 EV/Ebitda. In case the parent’s stake is on the block, ACC deserves a premium over its $100 EV/tonne valuation, for its strong brand and pan-India network, it said.

ACC Ltd. key Products/Revenue Segments include Cement, Ready Mix Concrete, Other Operating Revenue, Scrap for the year ending 31-Dec-2021.

"Looking at the Russia-Ukraine War, Inflation Worries, FED tapering worries, big corporates and countries facing financial stress like Evergrande and Sri Lanka, I would say FY23 is going to be a very volatile year. Indian markets have overlooked all the bad news, showing signs of underlying strength but in my view all these events will have a bearing on the market in the future. There may be a brief period of consolidation in the market. FY23 will not be the same in terms of returns as FY22."

As of 31-Mar-2022, promoters held 38.17 per cent stake in the company, while FIIs held 33.99 per cent and domestic institutional investors had 11.9 per cent.

"Retail investors are just about ~6.8% of the total population. And if we take out the states of Gujarat and Maharashtra, this figure comes down to ~4.5% of the total population. However, we believe that this is likely to grow fast as has been the trend since the pandemic. With better financial literacy, increasing income, and a realization of the fact that to beat inflation one needs to invest in the stock market-- we expect the retail investor community to invest more in the coming years."

A total of 156,228 shares changed hands on the counter till 10:20AM (IST).

Oriental Hotels Ltd., incorporated in the year 1970, is a Small Cap company (having a market cap of Rs 1138.57 Crore) operating in Tourism & Hospitality sector.

The Relative Strength Index of the stock stood at 56.38 on Wednesday.

As of 31-Mar-2022, promoters held 60.51 per cent stake in the company, while FIIs held 11.28 per cent and domestic institutional investors had 0.86 per cent.

The dollar climbed to a fresh two-decade peak to the yen on Wednesday, buoyed by more Federal Reserve officials pushing for sizeable interest rate hikes, while the Bank of Japan stepped into the market again to defend its ultra-low rate policy.