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“It is concerning that we have a few customers still buying Sintex shares even after this nudge that the stock price will go to (Rs) 0 and mandating a TOTP. There are so many who decide to buy just because a stock is at 52 week or all-time lows without caring about the reason,” Kamath said.

“The highest disbursement was made in Q3 of last year when we disbursed about Rs 50,000 crore gold loan. On an average, we disbursed about Rs 30,000 crore every quarter. So the number of customers coming for taking a gold loan should be in the range of 50,000-60,000 a day.”

There are 47 BSE500 stocks, where retail ownership was in excess of 20 per cent in the December quarter. Among them, 35 stocks have fallen between 20 per cent 63 per cent over their 52-week highs.

Tata Steel shares have jumped 17 per cent this year. The steelmaker reported 140 per cent YoY rise in profit at Rs 9,415.88 crore from Rs 3,922.56 crore in the year-ago quarter. Median targets of 31 analysts suggest a 27 per cent potential upside.

The stock quoted a 52-week high price of Rs 723.45 and low of Rs 469.75.

The S&P/ASX 200 index closed down 0.2% at 7,278.50, after rising 0.8% earlier in the session.

Promoters held 50.0 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 34.06 per cent and 3.0 per cent, respectively.

A total of 9,708 shares changed hands on the counter till 02:10PM (IST)

In the run-up to the mega IPO, on February 13, the government had filed the draft red herring prospectus (DRHP) with the regulator giving details of financial results till September. The DRHP got Sebi approval early this month.

“Whenever there is a transaction, in the initial year, the cost of doing the transaction and amortisation is reflected before the synergy revenue can start kicking in. For the first year, on the EBIT side, we are expecting this to have a 45 to 50 bps impact but we are very confident that as we go ahead and integrate the organisation into our fabric and take these services to our customer base over next -3 years, we expect this to be much more accretive to the EPS side.”