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Promoters held 23.5 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 49.78 per cent and 6.04 per cent, respectively.

A total of 241,560 shares changed hands on the counter till 11:07AM (IST)

The Indian rupee has fallen following the downward move in other Asian currencies. The rupee was marked at 82.20 per dollar and fell 0.4% last week, tracking the rise in the dollar index. Forward premiums have now reached their lowest point since February and it is thought there will not be a bigger fall from the current level. If USD/INR hits the 82.40 to 82.50 level, a trader at a private sector bank believes that the Reserve Bank of India will sell dollars.

​So, it is a trend which has to be broken where we used to periodically have good hits, even the big star movies have not worked and that is the challenge the stock is facing and that is why it is near a 52-week low.

The Nifty Realty index was trading 3.32 per cent up at 467.95.

The stock quoted a 52-week high price of Rs 286.9 and a 52-week low of Rs 176.6.

Post-COVID, rapid bounce in equity helped non-quality, high financial leverage or even deep cyclical companies to post robust returns, but we think that the party is over.

Jefferies maintained an underperform rating on Hindustan Petroleum Corporation Limited (HPCL) citing weak marketing and transitory refining weakness. CLSA retained a buy rating on Manappuram Finance as yields fell but growth became visible. Credit Suisse upheld an underperform rating on Dr Lal Pathlabs despite the likelihood of short-term growth favored by geographical diversification and higher pricing.

The Nifty Pharma index was trading 0.48 per cent down at 12427.35.

Adani Enterprises Ltd. and Adani Transmission Ltd., two companies of Gautam Adani’s group, have received approval to raise up to $2.6bn in a Qualified Institutional Placement. The board of the flagship company, Adani Enterprises, approved up to $1.5bn, while Adani Transmission can seek up to $1.1bn via similar means. The shares of Adani Group were hit by allegations of accounting fraud and stock manipulation by US short-seller Hindenburg Research earlier this year. The move to raise funds comes as the group looks to win back investors and continue its comeback strategy.