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The stock traded at a P/E multiple of 98.28, while the price-to-book value ratio stood at 19.49.

Jindal Stainless key Products/Revenue Segments include Steel, Sale of services, Export Incentives, Job Work and Other Operating Revenue for the year ending 31-Mar-2022.

The net proceeds from the issue will be utilised towards funding working capital and capital expenditure requirements and for the purchase of specially fabricated armoured vans, other than general corporate purposes.

“L&T has run up and obviously, if the technology derating happens, there could be some impact but I would think that L&T performs more on the behaviour of the core business; the kind of deleveraging they are doing and the fact that on the defence side, their foray seem to be fructifying significantly.”

A total of 210,077 shares changed hands on the counter till 11:47AM (IST).

“The global market backdrop continues to be weak due to the strong economic data from the US. The paradox of good economic news turning out to be bad news for markets is playing out. Data from US on consumer confidence, jobless claims, and Q3 GDP numbers surprised on the upside, indicating continuation of the hawkish monetary stance from the Fed,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 64715.51 Crore) operating in Financial Services sector.

“I think the biggest headwind that still remains is that of inflation. We do not really think that the entire inflation piece, even if we exclude the volatile food and fuel items, is totally behind us because the latest inflation data in India shows that while the headline is showing a visible trend line decline, the core inflation still remains to be sticky.”

FOMO (fear of missing out) was common among many new investors as they lost track of winners while trying to time the market amid the ups and downs led by fears related to Fed rate hikes, Russia-Ukraine war, inflation and recessionary projections.

Nifty50 breached the 18,000 mark on Friday and the next big support for the index is placed at 17,900 levels. Experts advise investors to pick quality socks on dips.