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A total of 469 shares changed hands on the counter till 01:58PM (IST)

Pledging of shares is one of the options that the promoters of companies use to secure loans to meet working capital requirements, personal needs and fund other ventures or acquisitions.

The IPO market in India has remained steady during Q1 of 2023, with four IPOs taking place during the quarter, one higher than in the same period last year. Despite the fundraising via IPOs dropping 89% YoY to $107m in line with the global trend of reduction in issue sizes, India has remained top in terms of the number of IPOs during Q1. However, most of these are attributed to small-ticket IPOs, and there has been a greater increase in the number of deals and proceeds raised in the SME segment.

Promoters held 25.95 per cent stake in the company as of 31-Mar-2023, while FIIs owned 39.42 per cent, DIIs 21.08 per cent.

Promoters held 25.95 per cent stake in the company as of 31-Mar-2023, while FIIs owned 39.42 per cent, DIIs 21.08 per cent.

On the technical charts, the RSI of the stock stood at 69.31.

On the technical charts, the RSI of the stock stood at 69.31.

Sheer economic challenges may bring inflation down, and, in turn, will force Central Banks to hold and reduce rates. Such an economic scenario does not favour equities and corporate earnings.

Long-term price inflation is no longer an issue, according to Sandip Sabharwal. Although some companies have been affected by higher inflation and lower consumption demand, most expect improvements going forward as they are no longer raising prices, and some have even cut prices in specific categories. The Indian macro is favorable overall, especially in the investment cycle, banking and financial universe and capex-oriented companies.

On the sectoral front, Nifty Financial Services declined 0.42% and Nifty Bank fell 0.21%. Whereas, auto, IT, media, metal, pharma, and healthcare sectors opened with gains. In the broader market, Nifty Midcap 100 advanced 0.52% and Nifty Smallcap 100 gained 0.74%.