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Analysts said a fall in crude oil prices alleviated concerns about imported inflation. "Commodity prices are lower, especially oil, and that is relatively good for India as it is largely an importer. This could positively impact domestic inflation," said Narendra Solanki, head of research at Anand Rathi Investment Services.

Ace investor Rakesh Jhunjhunwala and his wife Rekha owned a total 2.12 per cent stake in IHCL as of March 31, which is valued at Rs 667 crore as of Thursday’s trade.

The stock quoted a 52-week high of Rs 87579.85 and a 52-week low of Rs 62944.5.

“Only three things work in the market; growth, growth and growth. That is all. We are chasing that and at this point of time, growth is available at reasonable valuation. It is a simple mantra one can follow and one cannot go wrong over there. ”

As of 31-Mar-2022, promoters held 51.09 per cent stake in the company, while FIIs held 12.06 per cent and domestic institutional investors had 3.58 per cent.

A total of 5,643 shares changed hands on the counter till time (IST).

The Nifty Realty index closed 2.19 per cent down at 375.9.

Gold futures for August delivery fell 0.22 per cent to Rs 50,791 per 10 grams. Silver futures for July delivery declined 0.67 per cent to Rs 60,243 per KG in early trade.

Momentum investing is a strategy that invests in securities that have momentum (usually upward trending prices) and looks to sell them once they lose momentum. It works under the hypothesis that markets will continue to move in a particular direction for a much longer period than most people assume is possible. It implies that well-performing securities will continue to do so and vice versa.

The stock quoted a 52-week high price of Rs 332.6 and a 52-week low of Rs 181.15.