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From the 30-share pack, Bajaj Finance and Bajaj Finserv were the top losers, falling over 6%. ICICI Bank, Power Grid, Titan, Infosys, Axis Bank, Wipro, and Tech Mahindra were also traded with cuts.

The brokerage likes Astral for its leadership presence in the CPVC segment, strong retail franchise, superior revenue/earnings growth, and healthy return ratios. Astral has also forayed in paints and bathware businesses in FY23.

A total of 5,516 shares changed hands on the counter till 01:43PM (IST)

“During the last decade, they grew at 35% while all the other banks ICICI, Axis grew at 15%. The differential was almost 20-25%. Now even the Axis and ICICI of the world are growing at 20% and Bajaj Finance is growing at 25%. So I will not want to pay significantly higher multiples for this company versus the others.”

Prince Pipes & Fittings, incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 6489.96 Crore) operating in Plastics sector.

The stock quoted a 52-week high price of Rs 7377.6 and a 52-week low of Rs 4299.8.

He said setting right expectations, being transparent and not overselling are great ways to reduce the volatility of the stock price pre and post-IPO. "Doing this well can make shareholders feel like owners & help reduce customer acquisition costs, the biggest cost for B2C businesses."

Corporate bond issuance could have come to a halt for the next two weeks as the government upgrades an online portal used by companies to file regulatory disclosures, merchant bankers had said.

On the technical charts, the RSI of the stock stood at 40.01.

The stock quoted a 52-week high of Rs 115.0 and a 52-week low of Rs 62.29.