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Prasad said the backward integration will allow Granules to mitigate supply chain disruptions, volatility in prices and also increase expectations of environmental standards. Granules will spend about ₹250 crore on its backward integration and ₹150 crore on its greenfield formulation manufacturing unit in Genome Valley, near Hyderabad.

The government had proposed a ₹4,950-crore capital infusion in state-run general insurers in the third supplementary demand of grants earlier this month.

This will be the first public offer in the last one and half months. Impacted by the sharp volatility in the market and uncertain investment climate, over a dozen firms that earlier planned to raise funds through IPOs this fiscal have postponed their public offerings to next fiscal despite approvals. The Ruchi Soya FPO will close on Monday, March 28.

HSBC said that in December 2021, the relative price-to-earnings ratio of the banking index compared to the other emerging market financial indices was around one standard deviation above its long-term mean but the relative premium has corrected to between the long-term mean and minus 1 standard deviation versus most emerging markets.

Under this expansion, the company plans to set up three manufacturing units at an investment of around ₹300 crore in luxury surfaces and bathware segments.

The Dow Jones Industrial Average fell 201.94 points, or 0.58%, to 34,552.99, the S&P 500 lost 1.94 points, or 0.04%, to 4,461.18 and the Nasdaq Composite dropped 55.38 points, or 0.4%, to 13,838.46.

"Berkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years," Buffett, who has run Berkshire since 1965, said in a statement.

Online food delivery service provider Zomato plans to deliver food to its customers in record 10 minutes, following the footsteps of grocery delivery companies, Deepinder Goyal, the founder said in a tweet.

Nifty50 on Monday fell nearly 1 per cent after two days of back-to-back rise. With this, the index slipped below its 50-day moving average and formed a bearish candle on the daily chart. Analysts are not so worried as they believe strong support for the index is placed around 17,000, which also coincides with the 200-day moving average.

"This very sharp spike in commodity prices is actually having relatively mixed impacts ... because we have some notable commodity exporters in this region, who would possibly stand to benefit," said Manishi Raychaudhuri, Asia-Pacific equity strategist at BNP Paribas.