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“EM central banks should do stress tests to gauge potential negative impact of crypto. Could money seek to fly out of the country through these cross-border transactions at a very quick notice? Could that put pressure on the currencies? Could that put pressure on the banks if they try to counter this through the introduction of central bank digital currencies?”

The stock traded at a P/E multiple of 77.14, while the price-to-book value ratio stood at 4.74.

Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 41870.93 Crore) operating in Pharmaceuticals sector.

On the technical charts, the 200-day moving average of the stock stood at Rs 3863.12.

The Nifty Realty index was trading 0.71 per cent up at 559.55.

Bitcoin and Ether made record peaks in Asia trade on Tuesday as enthusiasm for cryptocurrency adoption and fears about inflation lent support to the asset class.

In stock-specific moves, shares of Britannia plunged 4 per cent to Rs 3,562 on reporting a 23 per cent decline in consolidated PAT for the September quarter.

The Relative Strength Index of the stock stood at 70.49 on Tuesday.

A day before the IPO, Sapphire Foods India raised about Rs 933 crore from anchor investors, who were allotted 7,906,473 equity shares at the upper price band of Rs 1,180 per share.

Promoters held 0.0 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 16.19 per cent and 13.52 per cent, respectively.