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“If the RBI or rather the MPC is not able to keep inflation within that 2% to 6% band for three consecutive quarters, the RBI will have to call a meeting of the MPC to discuss the letters to be written to the government explaining three reasons why the MPC failed, what are the measures it plans to do and how soon will it be able to restore inflation to back within that 2% to 6% band.”

Nifty Bank rolls were at 77% (below the past 5-month average) and on weekly expiry option chain reflects on PE writers building positions at 40,000 strike - overall more than 40 thousand contracts, with CE writers adding up equal and fair exposures at 41,500, followed by 43,000 strikes - fresh additions of more than 20 thousand contracts each, which reflects on the broad range in between 40,000-43,000 zones for the Index.

"The concern that we see is that post IPO there was a huge run-up in the stock prices. The valuation is difficult to project or justify based on traditional metrics because these are new-age businesses. There was a huge demand from some global funds. Now global tech is not doing well.

The Indian market opened higher on Friday, led by gains in banking, financial and auto stocks. S&P BSE Sensex was up over 200 points in early trade while Nifty 50 was above the 17,800 level.

Indus said it had agreed to the customer’s proposal for softer repayment terms. “During the last quarter, the customer had informed the company that a funding plan was under finalization with its lenders and had proposed…to pay part of the monthly billing till December 2022 and 100% of the amounts billed from January 2023,” Indus said, adding that it had agreed to the proposal.

Axis Bank is the sixth largest bet in the largecap space for mutual funds. For Nippon Life Asset Management, Kotak Mutual Fund and SBI Mutual Fund, the bank is among their top 5 holdings.

In the domestic equity market, the 30-share BSE Sensex was trading 220.59 points or 0.37 per cent higher at 59,977.43. Similarly, the broader NSE Nifty rose 60.50 points or 0.34 per cent to 17,797.45. Foreign Institutional Investors (FIIs) turned net buyers in the capital markets as they bought shares worth Rs 2,818.40 crore on Thursday, according to exchange data.

Finolex Cables Ltd., incorporated in the year 1967, is a Mid Cap company (having a market cap of Rs 8025.49 Crore) operating in Consumer Durables sector.

The Nifty Realty index was trading 0.47 per cent down at 435.9.

Kacholia has investments in over twenty stocks and has a varied portfolio that includes hospitality, education, infra and manufacturing stocks. Kacholia publicly holds 42 stocks with a net worth of over Rs 1,885.5 crore as per the latest corporate shareholdings filed.