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The Nifty Pharma index closed 1.23 per cent up at 13643.65.

Rakesh Jhunjhunwala said 2022 will be a year of positive, not flat, returns in the stocks market as he foresees healthy growth in corporate profits. At present, what we are seeing is a meltdown in hyped value stocks and not IT

Even without the pronouncements in the Budget, most of those who follow the financial sector knew that the focus would be on infrastructure-building, which in turn leads to what economists term as “crowding-in effect”.

“The cyclicals are better positioned, better valued and there can be better returns over there. But we do not look at it in absolute black and white terms. There are some secular themes and digitisation energy transition that is happening and there’s the China plus one theme as well. ”

​​ The company had reported a consolidated net profit of Rs 41 crore in the quarter ended on December 31, 2020, a BSE filing stated.

The government has smartly sidestepped on the legality of cryptocurrencies while showing its disinclination to support these, by levying a huge tax burden on those making money from such virtual digital assets, as the Finance Bill has tried to define it.

“We are recommending that one should be overweight in the domestic cyclical sectors. We like banks and autos. From a medium to long term perspective returns on the capital goods stocks also would be good. ”

A total of 8,586 shares changed hands on the counter till 01:39PM (IST).

As of 31-Dec-2021, promoters held 66.33 per cent stake in the company, while FIIs held 20.8 per cent and domestic institutional investors had 0.14 per cent.

"Investors realised that they were too risk sensitive and bought back stocks that were oversold," said Ikuo Mitsui, fund manager at Aizawa Securities.