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Bansal, who has invested Rs 4,000 crore of his own capital in Navi, is expected to retain majority control in the firm even after the IPO.

“Steel exports from India will increase because this is a good market today as far as the spot market is concerned. The opportunity for the Indian steel industry lies in exporting more and more to the European Union and also the Middle East and North African (MENA) countries. The increased input costs can be set off easily because the prices in Europe are much higher than the prices in India.”

“We continue to believe that we are in a back loaded rate hiking cycle. We do not expect rate hikes to commence at least from August onwards. At the moment, given the constellation risks that the central bank is looking at, RBI would probably be thinking of how to sustain growth in such a difficult environment.”

The Nifty Pharma index closed 0.42 per cent down at 12546.85.

Fantom dropped about 22 per cent to hit lows of $1.32 on Monday, according to the data from Coinmarketcap.

Gold prices traded higher with spot gold prices at COMEX trading 1.31 per cent up at USD 1,996 per ounce on Monday.

Hexagon Nutrition, which filed preliminary IPO papers with Sebi in December 2021, obtained its observations letter on March 4 2022, an update with the regulator showed on Monday.

In tandem with the heavy sell-off in equities, the market capitalisation of BSE-listed companies plunged by Rs 11,28,214.05 crore in four days to stand at Rs 2,41,10,831.04 crore.

The idea that such small changes can lead to dramatically different outcomes does not come naturally to us. We often link success (in a highly competitive sport or industry) to making big-bang changes. But as we just saw, that might not always be the case.

“Since a lot of bad things are already priced in most of the prices right now except maybe our yields, probably we will see less depreciation going from here. Technically speaking, 77.19, 77.20 looks a little stable. Basically it may not break above that in this rally itself but the big question is where the oil price is going. ”