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Promoters held 55.45 per cent stake in the company as of December quarter while FIIs owned 0 per cent and DIIs 14.93 per cent.

Brokerage Motilal Oswal Securities expects private banks to report a 21% year-on-year (YoY) growth in pre-provision operating profit (PPoP) for the quarter and public sector banks to see a 19% growth.

Revenue/PAT are expected to grow 70%/27.1% YoY to INR64.1bn/INR4.7bn, led by higher power demand and increased earnings from LNG trading.

“If you have invested at 100, when it goes to 90, it is only temporary because given time it will come back to 105 or 110. But if you sell the stock at 90, then you have actually converted a temporary loss into a permanent loss. Now this is all assuming that you have done the right kind of investing.”

Promoters held 58.37 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 27.73 per cent and 2.71 per cent, respectively.

The Relative Strength Index of the stock stood at 37.81 on Wednesday.

However rising concern over uncertainties from the large economies and supply-side constraints may create uncertainties over the growth prospects of the company.

The stock hit a fresh 52-week high of Rs 161.90 on 9 January 2023. It witnessed some profit-taking on 10 January, but experts are of the view that the long-term trend is intact.

The Nifty Auto index was trading 0.7 per cent down at 12729.6.

A total of 2,433 shares changed hands on the counter till 11:27AM (IST)