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“The fact we have great prospects for the next 3-5 years, should not blind us to what is happening around us right now. Ultimately our market will deliver what our economy and what our corporates will deliver. But that delivery always takes 2-3-5 years to play out. So having patience, having a time horizon is very important right now. But, in the next two-three months, I would be very cautious about making any pronouncements.”

Investors holding the eClerx as of the record date will be eligible for additional shares. Since the announcement of bonus shares on August 10, the stock has gained over 8 per cent.

The RPG Group company, on Wednesday, announced orders worth Rs 1,123 crore across various businesses, including transmission & distribution, railways lines, hydrocarbon segment and cables. Earlier this month, it had announced another EPC order win worth Rs 1,108 crore across multiple segments. The new order wins are opening up revenue prospects for the company but have failed to woo investors.

“We had a huge amount of restructuring going on in India as a result of the reforms that were undertaken in 1991. We are in a similar situation at this point. I would say that this is not a 10-year story but over the next one or two years, it is quite possible that the market does not really go anywhere.”

The rupee closed at 79.9750 per U.S. dollar, down from 79.75 in the previous session. The rupee opened a tad lower at 79.79 and continued to toil lower through the session. The mobilisation of troops by Russian President Vladimir Putin piled on more pressure on the rupee, already weighed by the surging dollar index.

​​The 30-share Sensex declined 262.96 points to end at 59,456.78. Its broader peer, Nifty50, ended at 17,718.35, up 97.90 points.

Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 34.83 per cent and 2.71 per cent, respectively.

“The valuations currently would look extremely expensive. It is quoting at about 50 times forward PE which is definitely very comparable to the existing FMCG companies. People like to participate in niche companies like Patanjali and if they deliver good in terms of growth and capital raising, that will bring in an additional amount of excitement.”

The Relative Strength Index of the stock stood at 72.52 on Wednesday.

A total of 92,075 shares changed hands on the counter till 02:11PM (IST)