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In an advertisement posted on Tuesday, the 1875-established BSE said it is looking for a results-oriented leader having an experience of 20 years, with the "highest ethical standards".

The portion reserved for retail bidders was subscribed 4.2 times, whereas HNI allocation was booked 47 per cent. The quota for qualified institutional buyers was not even off the mark.

The Relative Strength Index of the stock stood at 60.15 on Tuesday.

As of 31-Dec-2021, promoters held 0.0 per cent stake in the company, while FIIs held 18.02 per cent and domestic institutional investors had 2.86 per cent.

A total of 32,117 shares changed hands on the counter till 12:38PM (IST)

"There is a good possibility of the 17,000-17,500 range for Nifty50 getting broken on the upside with a surge in Bank Nifty. The fourth-quarter financial results can provide the ammunition for this breakout. Stability in global markets, softening crude and chances of a ceasefire in Ukraine can also provide the positive backdrop for a breakout," Dr VK Vijayakumar said.

MSWI has been carved out of MSS after a recent restructuring. The shareholders were issued one share of MSWI for every share of MSS. With the restructuring, MSS controls the overseas business while MSWI is focused on the Indian wiring harness business.

A total of 12,387 shares changed hands on the counter till 11:11AM (IST).

Promoters held 0.0 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 5.4 per cent and 2.72 per cent, respectively.

“Companies like Reliance are consuming crude largely for refining purposes, producing derivatives in the form of polymers, polyesters and whatever materials they produce. In the near term, some of the benefits will go to companies like Reliance for sure but if one has to look at a balanced approach, crude oil prices should be in the range of $75 and $85.”