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The US Fed on Wednesday increased interest rates by 50 basis points on expected lines and signalled more hikes ahead to fight inflation. The US central bank raised the interest rate to 4.25-4.50 per cent to the highest level in 15 years.

"We continue to remain overweight on banks and NBFCs and cement despite the negative impact of USD/INR, primarily due to the expected turnaround in construction," Credit Suisse in its India market strategy report for 2023.

On the daily charts, Dabur formed a Pole and Flag pattern which is also a bullish continuation pattern. Most of the technical indicators suggest that the momentum is likely to continue on the higher side.

The research firm further stated that "we had been concerned about their post moratorium capital structure, ability to improve their liability franchise and retaining their existing employees, given that the organization needs time to recover."

The quota for employees was subscribed 2.41 times, whereas the retail portion was booked 44%. The allocation for non-institutional investors was subscribed 91% but the portion for qualified institutional bidders was booked only 30%.

A total of 363,791 shares changed hands on the counter till 02:11PM (IST)

The stock quoted a 52-week high price of Rs 115.63 and low of Rs 83.0.

As of 30-Sep-2022, promoters held 46.83 per cent stake in the company, while FIIs held 13.81 per cent and domestic institutional investors had 16.44 per cent.

U.S. stocks closed lower in volatile trading overnight, following a policy announcement by the Fed that raised interest rates by an expected 50 basis points, but its economic projections see higher rates for a longer period.

Poonawalla Fincorp, incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 22831.08 Crore) operating in NBFC sector.