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The stock traded at a P/E multiple of 6.33, while the price-to-book value ratio stood at 0.82.

See, again, it is a tough call. We would ideally like the PVC EDC spread as well as PVC VCM spread to be a little bit higher than what it is right now. The current prices of PVC are at around 75 rupees per kg and the PVC EDC spread also lags behind the PVC prices by a little bit.

Domestic and global investors, retail investors, and HNIs are buying, and supply has not appeared in the secondary market sale, QIPs, OFS, nor IPOs. The buying has overwhelmed selling, but market regulation works, and selling is inevitable. The Indian market is an oasis in the global desert, with the world tackling inflation and struggling with growth; India has regulated inflation and maintained positive growth rates.

Under the two terms of the Narendra Modi-led government, Dalal Street investors had a good time despite implementing demonetization, GST, and the COVID-19 pandemic. The Nifty 50 has doubled in value in 9 years, with foreign and domestic institutional investors pouring in a net of $49.21 billion and ₹7 lakh crore, respectively. Post-pandemic, Indian equity markets increased significantly, making it one of the best-performing emerging markets in the MSCI index. The IT sector gave the best returns to the investors, followed by the financial services and FMCG sectors. Investors remain bullish on India due to its positive macro side improvement and stability.

India is set to see at least four new Real Estate Investment Trusts (REITs) listed on the stock exchange between the second half of 2021 and early 2025, if the performance of the stock market stays consistent, according to Anshuman Magazine, head of CBRE India. The introduction of REITs has been a success in India, allowing retail investors to participate in the real estate market, monetising rent-yielding assets and unlocking the broad potential of real estate assets. Institutional investors are also attracted by the reliability of these assets as REITs offer them a better return on investments.

The Nifty Bank index was trading 0.04 per cent up at 43699.05.

Look at it this way, our same-store sales growth has already been at about 30% plus and frankly, it is difficult to sort of move it beyond 30% in the same store sales growth.

Foreign institutional investors (FIIs) have increased their net longs in Nifty and Single Stock Future (SSF), while domestic institutional investors (DIIs) have sold equities. FIIs pumped in $3.1bn in May while DIIs sold equities worth $372m. HNI and retail clients increased their short positions in the index while reducing their longs marginally in SSF. Bulls maintained their upper hand throughout the May series and continue to hold the grounds. The auto, IT, realty, and FMCG sectors recorded gains in May while the PSU bank and pharma sectors recorded losses. The Nifty can move higher but crossing 18,660 will remain a challenge, according to a Nuvama report.

A total of 439,692 shares changed hands on the counter till 11:33AM (IST).

FMCG sector has seen buying interest from FIIs due to net cash flow companies with high brands and distribution, but the result numbers have not been encouraging. The market is seeing a lot of money coming in due to global inflows. The cement sector is expected to perform well in terms of volume growth and margins. The auto industry is cyclical and dominated by different companies based on introducing new models, making sure new models are successful, and having pricing power.