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As of 31-Mar-2023, promoters held 38.05 per cent stake in the company, while FIIs held 31.41 per cent and domestic institutional investors had 10.5 per cent.

A total of 10,700 shares changed hands on the counter till 12:46PM (IST).

On the technical charts, the RSI of the stock stood at 53.11.

LTFH’s strong growth in retail and an accelerated rundown in wholesale are positive factors that will make the portfolio granular and improve consolidated profitability.

The stock quoted a 52-week high price of Rs 895.0 and a 52-week low of Rs 594.0.

Indian government bond yields declined on Wednesday, in anticipation of a policy pivot from the U.S. Federal Reserve after an expected rate hike. Traders largely expect the central bank to maintain a prolonged pause amid an improvement in inflation outlook and a sharp fall in oil prices. The 10-year benchmark 7.26% 2033 bond yield fell to 7.0500%, its lowest level since April 26, 2022

As of 31-Mar-2023, promoters held 0.0 per cent stake in the company, while FIIs held 21.5 per cent and domestic institutional investors had 1.58 per cent.

The insolvency of Go First, previously known as GoAir, may impact select banks, resulting in concerns about the net interest income and raising resources. The market has been moving in a narrow range for many weeks, and many months need a good earnings season like this to break out on the upside, says Dipan Mehta, Director, Elixir Equities. InterGlobe Aviation looks like a good trading bet with strong performance and returns.

The Nifty Pharma index was trading 0.04 per cent up at 12594.95.

Airline stocks in India rallied up to 8% following the insolvency filing of Go First, with investors expecting consolidation in the industry. Jefferies analyst Prateek Kumar said the unexpected shutdown of Go First is likely to drive supply constraints, which could benefit air fares, especially with recent strong traffic trends in the Indian aviation sector. The Wadia Group-owned airline had not defaulted on its total debt of Rs 65.21bn ($873m) to financial creditors as of 30 April, but had defaulted on payments to operational creditors.