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The stock quoted a 52-week high of Rs 308.65 and a 52-week low of Rs 200.5.

“We have moved up from something like 18,000-19,000 a month in SUVs to over 30,000 a month. So there has been a significant change in the traction by way of converting demand to supply. That is why we are seeing such strong growth and that is why we are number one on SUV revenue market share.”

A total of 2,294 shares changed hands on the counter till 01:32PM (IST).

“One stock which I bought initially and then increased our allocations is a company called Mayur Uniquoters. They essentially are into PU, PVC products. They were big in footwear, then they became big in the artificial leather seat covers for cars, etc. In the next two-three years, we will see very strong growth and valuation-wise, I find it reasonable. So it has moved up lately so people can take the call accordingly.”

Forex traders said the rupee is likely to trade with a slight negative bias amid risk aversion in global markets. Moreover, a sharp pullback in crude oil prices and strong dollar on hawkish tone of Fed may also put pressure on the rupee.

RIL shares are down around 19% from its 52-week high of Rs 2,855. Trendlyne data shows that the stock has buy ratings from 27 analysts out of 32. The average share price target of Rs 2,864 implies an upside potential of 22.6%.

Promoters held 43.92 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 15.17 per cent and 2.47 per cent, respectively.

Still, the total value of India’s market was about 6% lower than Jan. 24, the day before the selloff in Adani stocks began. While steps by the group to restore investor confidence have helped its shares reclaim some value, they remained $120 billion lower than before the rout.

It expects sales to grow by 40% YoY, driven by a 35% growth in beauty and personal care (BPC) category and a 41% growth in fashion gross merchandise value (GMV). EBITDA margin is expected to contract 77 basis points sequentially to 5.5%, but on a YoY basis, it is seen expanding by 55 bps.

While the brokerage assumes a slowdown in recruitment billings over the next 1-2 quarters we also expect a quick rebound supported by stable GDP growth and increase in offshored jobs demand.