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The tenure of the bonds is 9 years and 234 days, and the date of maturity is November 17, 2031.

In the international market, gold traded lower at $1,933 per ounce and silver remained flat at $25.10 an ounce.

The Dow Jones Industrial Average fell 28.21 points, or 0.08%, at the open to 34,833.03.

The Nifty Realty index was trading 0.61 per cent down at 446.4.

Bank Nifty snapped its three-session losing streak. On the downside, it defended levels of 35,000. Mild consolidation is possible, while any major action on either side is unlikely.

"Rupee has been oscillating between 76 and 76.50 for the last six trading sessions. Even after a stronger dollar index, the rupee manages to add gains amid lower crude oil prices, higher equities and corporates dollar selling" Dilip Parmar, Research Analyst, HDFC Securities, said.

Since it would be profitable to sell Ruchi Soya stocks in hand at a higher price and apply for the same at a lower price in the FPO, apparently investors did exactly that. And, they are likely to reap a handsome profit as well.

“We expect the 17-18% growth number to come down. We need to watch how much it will come down. Will it come down to 10% or 12% or 5%? It is difficult to say at this point of time because there are also counter balancing factors in terms of commodities helping certain profit estimates. We have to see whether that 17-18% growth can come down to 10-12% or more.”

​​The index moved above its 50-day and 200-day moving averages as it ended up forming a bullish candle on the daily chart, with a long lower wick, suggesting buying interest at low.

Emami has historically used an inorganic route to growth including the acquisition of Zandu (2009), Kesh King (2015) and German brand Creme 21 (2019). These brands or businesses have over the years emerged as major brands for the company.