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As of 30-Sep-2022, promoters held 0.0 per cent stake in the company, while FIIs held 18.7 per cent and domestic institutional investors had 1.87 per cent.

While some voices state that it is time for the government to moderate its FY24 target given that it has missed its targets the last 3 years, it is likely the Govt would continue to set an aggressive target given the background of growth push with government spending.

The Relative Strength Index of the stock stood at 43.58 on Wednesday.

Eris Lifesciences, incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 8701.37 Crore) operating in Pharmaceuticals sector.

The company continued to lose share in this segment, with a share of 13.7% in the third quarter as against 15.7% in the same period of last year. The claims ratio in this segment was high at 73%, up 120 bps year-on-year (YoY).

"Global news flows would continue to dominate the outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive. Post CNY demand would be key for further rerating," said brokerage firm CLSA.

It can be observed that post a strong first leg of the up move from the level of Rs 15.85 to Rs 99.85 (31.30.2020-31.03.2021), this stock witnessed a correction closer to 61.80% of its previous up move at Rs 52.20 level in four back-to-back quarters (30.09.2021 -30.06.2022).

Citigroup Inc Chief Executive Officer Jane Fraser said in an interview with CNBC that the US Federal Reserve could slow rate hikes in late spring or early summer. In a low-interest rate regime, lesser returns on interest-bearing assets such as bonds turn gold attractive.

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The stock quoted a 52-week high price of Rs 784.27 and low of Rs 451.6.