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FII holdings in Nykaa rose to 11.06% at the end of December quarter from 5.98% in the March quarter. Mutual funds have taken their overall holdings to 4.06% at the end of December from 2.0% in March.

The Nifty Pharma index was trading 0.56 per cent up at 12306.2.

Also bring in FY25 forecast and, while the brokerage still remains positive despite the sharp cuts, reckon recovery is firmly delayed by a year; roll over to FY25 forecast and retain BUY with revised TP Rs130, based on unchanged 35x FY25 EPS.

Repco Home Finance, incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 1349.14 Crore) operating in NBFC sector.

Promoters held 29.33 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 47.94 per cent and 10.2 per cent, respectively.

JP Morgan on Tata Steel and SAIL said, "Investor sentiment remains bearish on metals, lacking a meaningful demand recovery in China. Either steel prices need a rally or coking coal prices need to fall. Indian steel mills are well positioned".

On the technical charts, the 200-day moving average of the stock stood at Rs 7721.15.

The B2B e-commerce business would be launched in a phased manner from H1FY2024.

Stocks that were in focus include names like Siemens which was up over 3%, Jindal Saw rose nearly 5% and Torrent Power rallied more than 10% on Wednesday.

“IT is now a market performer if not marginal outperformer for many of the frontline companies. Overall, the earnings season has been particularly good in terms of surprises on the upside. In fact, downgrades were reasonably large and merit attention. One has to keep focus on the sectors where growth is expected and that will keep banks among the large ones.”