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From the Nifty100 pack, there are 10 stocks that are trading over 40% lower from their yearly highs. The list is dominated by new-age technology and IT companies.

The stock quoted a 52-week high of Rs 817.95 and a 52-week low of Rs 519.6.

Overall, 40 Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 1,18,723 crore (all-time high) mobilized by 63 IPOs in 2021, according to the database. According to Pranav Haldea, Managing Director, PRIME Database Group, Rs 20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone.

Pranav Haldea, Managing Director, PRIME Database, said the momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of the lack of sustained interest from FPIs, he said.

“Our experience in India shows that revenge spending is largely driven towards services, travel which are not very commodity intensive. When we are talking about housing, Chinese companies have huge inventory and the developers are not in a state to really push up construction. So there would be revenge buying which will not be commodity focussed and to that extent I am not that bullish on this thesis.”

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A total of 143,092 shares changed hands on the counter till 02:08PM (IST).

The average daily dollar sales by exporters beyond the spot date rose to about $1.2 billion in November and December after slipping below $900 million in October, according to data from the Clearing Corporation of India."Clearly, relative to October, there is more willingness from exporters to cover," said Dipti Chitale, senior vice president - risk management advisory, at Mecklai Financial.

Assuming a 24% tax rate, UBS estimates RIL’s consolidated net profit to rise 10% sequentially to Rs 15,100 crore but fall 4% YoY.Shares of RIL have given muted returns in the last 5 months as the imposition of windfall gains tax on domestic crude oil and fuel exports clouded the outlook for the mainstay oil-to-chemicals (O2C) business.

“While the Bank Nifty was about to cross its 20 DMA a few days back, Axis Bank has been sustaining above its major moving averages including the shortest 20 DMA. We feel that any dip in this stock should be bought with Rs 935 stop loss and Rs 1,020 target.”