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“One has to be picky over here and stick with the banks or NBFCs where there is some semblance of under ownership or where the earnings can really surprise investors. A broad-based allocation to financial services may not be sensible. So it is wiser to be a picker rather than an allocator.”

Its consolidated total income also declined sharply from Rs 480.3 crore in Q4FY21 to Rs 299.1 crore in Q4FY22. Its business operations were impacted in the second half of FY22 by the resignation of its Managing Director on November 2, 2021.

The smallcap FMCG firm reported income from operations at Rs 158.27 crore for the April-June 2022 period, about 120 per cent higher than the income of Rs 72.36 crore reported in the same period a year ago.

Promoters held 0.0 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 13.34 per cent and 15.31 per cent, respectively.

On the technical charts, the RSI of the stock stood at 61.89.

A total of 6,025 shares changed hands on the counter till 12:54PM (IST).

As of 30-Jun-2022, promoters held 50.05 per cent stake in the company, while FIIs held 12.11 per cent and domestic institutional investors had 9.38 per cent.

Indian market snapped a 3-day winning streak on Monday to close marginally in the red following muted global cues. The S&P BSE Sensex was down by nearly 100 points while the Nifty50 managed to hold on to 16,200 levels. Sectorally, buying was seen in power, utilities, oil & gas, energy, and metals while some selling was visible in IT, capital goods, and telecom stocks.

Sectorally, buying was seen in utilities, power, telecom, and oil & gas while selling was visible in metals, consumer durables, and realty stocks. The rupee hit a fresh record low of 79.55 against the USD in the morning trade.

At the interbank foreign exchange, the rupee opened lower at 79.55 against the American dollar and slipped further to quote at 79.58, a decline of 13 paise over its last close.