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As on June-end this year, the Asset Under Management (AUM) of the company stood at Rs 32,961 crore, growth of 15 per cent over same period last year.Anand Rathi Wealth, which got listed on the Indian bourses in December, operates in the financial services industry with a focus on mutual fund distribution and sale of financial products.

The company had clocked a net loss of Rs 76.02 crore during the April-June period of 2021-22 financial year (FY), it said in a BSE filing.Its total expenses increased to Rs 1,568.92 crore, from 1,313.94 crore in the year-ago quarter.

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The shareholders have approved "equity capital raising plan of the bank during the financial year FY23 through issue of up to 100,00,00,000 equity shares of Rs 10 each by way of various capital raising options at an appropriate time and premium," the bank said.

"The 16,000-16,275 range is a tight consolidation range. The index is now approaching the lower end of the consolidation range i.e. 16,000 that needs to be monitored closely on a closing basis. A breach of 16,000 on a closing basis will drag the index into a short-term correction mode,"

“IT could face growth headwinds over the next year or so. Purely from a stock market perspective, rotation will happen into financials from IT, where probably financials and banks should lead the next round of recovery or rally in the markets as and when that rally begins. So probably, we are in the middle of one.”

The Nifty Realty index was trading 0.25 per cent down at 416.0.

Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.19 per cent and 17.5 per cent, respectively.

Jain is Executive Director and Chief Investment Officer at HDFC AMC.Data showed the mutual fund house bought a 0.02 per cent stake or 1,97,807 shares in Shriram City Union Finance worth Rs 32.85 crore. It added Sanofi, buying 8,365 shares worth Rs 5.38 crore. It also entered Metropolis Healthcare with 3,600 shares worth Rs 50 lakhs.

“The important thing is to look at good earnings growth, good corporate governance and good ROEs. There is runway for growth for the next three to five years. CY22 is the year to buy to make a high quality portfolio which can have a good mix of large, mid and smallcap names and 2023 onwards will be the year when we start reaping the benefits out of that.”