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The Nifty Pharma index was trading 2.01 per cent down at 12828.75.

The Relative Strength Index of the stock stood at 34.91 on Thursday.

A total of 7,188 shares changed hands on the counter till 11:26AM (IST)

“The market is saying that the tapering and the quantitative tightening that is going to follow is substitute for rate hikes. Consequently, if quantitative tightening or the run offs as it is called in Fed are going to be very large, then the rate hikes will be that much less. But that means the effectiveness of rate hikes on lending rates is that much less and that will force the Fed to move even more aggressively.”

Heritage Foods Ltd., incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 1758.02 Crore) operating in FMCG sector.

As of 31-Dec-2021, promoters held 69.44 per cent stake in the company, while FIIs held 11.66 per cent and domestic institutional investors had 4.42 per cent.

Pankaj Pandey, Head Research at ICICIdirect.com said that the cost of liquidity will go up and the quantum of liquidity is expected to come down, which will create volatility. Pandey said the RBI would be forced to sort of take rate hikes and that volatility is here to stay.

“One needs to wait for a couple of days and be ready with the money they have taken out or have with them and then invest once there is more clarity.”

Total income fell to Rs 355.59 crore in the third quarter of this fiscal, from Rs 756.81 crore the same time a year ago.

In its latest policy update, the Fed said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases in March.