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Swiggy had closed a $700 million funding round led by asset manager Invesco, and a host of new investors such as Baron Capital Group, Sumeru Ventures, IIFL AMC Late Stage Tech Fund, Kotak, also participated in the latest round.

“ The lead of the US market since 2009, especially after 2015 vis-à-vis other markets, has never before been so wide. In other words, the US market has been soaring while the other markets have been moving sidewards or down. Emerging markets and Europe have never been this cheap compared to the US and if the conflict dissolved tomorrow, I would buy Indian shares and not US stocks..”

The latest order comes as a relief to the Future Group, which is in dire need of funds to pay off a mountain of debt. It has been fighting a legal battle with Amazon.com Inc, which has objected to the sale of its retail assets to rival Reliance Industries.

This trend could help stabilise the notoriously volatile crypto market and potentially provide a long-term floor, according to some market watchers who point to the fact bitcoin is up about 5% versus before the Russian invasion.

Oil prices see-sawed on Tuesday with Brent crude futures trading at $125 per barrel, around 10% below a 14-year high struck in the last session.

“The day the war broke out on February 24, the markets fell 5% but our portfolios fell only 1.6%. That is where risk control kicks in. Any time there is panic, that is where you need to be also hedged. So whatever you are playing a) you have to be careful with sectors and b)have your risk control in place.”

The company renewed its operating licence in 2020, with one of the conditions for the new licence being Airtel Uganda to list at least 20% of equity on the local bourse.

A total of 53,627 shares changed hands on the counter till 12:57PM (IST)

The Relative Strength Index of the stock stood at 36.22 on Tuesday.

"We use the funds freed from India to raise China from Market Weight to Overweight. China’s credit intensity still clouds long-term prospects but we like the country’s low oil import bill, insulation from Fed rate hikes, improving macro indicators and wealth of potential policy tools," CS said.