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Promoters held 48.04 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.88 per cent and 11.47 per cent, respectively.

The Relative Strength Index of the stock stood at 65.67 on Friday.

The portfolio benefits from a stable mix of annuity and toll cash flows, with the projects located strategically across India including in the most prominent North-South highway corridor, said an Actis statement.

“After dividend payout, there will be Rs 16,500 in cash and cash equivalent at the end of June with the company. Annual capex is not very high at Rs 500-600 crore and Rs 10,000-12,000 crore cash in the balance sheet is more than sufficient. All this calculation leads to roughly Rs 3,000-5,000 crore in buyback value and the price is right now at around Rs 3,900. So buyback would be somewhere in the range of Rs 4,000-4,500.”

Gold futures on MCX were trading lower, declining 0.21 per cent or Rs 105 to Rs 50,900 per 10 grams. However, silver futures plunged 0.50 per cent or Rs 301 to Rs 61,101 per kg.

The Nifty Bank index was trading 1.24 per cent down at 34648.9.

Top 10 stocks filtered where the value of the fixed asset is greater than the current market capitalization include names like ONGC, IOC, Tata Steel, HPCL, Apollo Tyres, GE Shipping, etc. among others.

A total of 2,572 shares changed hands on the counter till 10:50AM (IST)

The company saw the highest monthly card additions in March 2022 since July 2019. Industry spending rose sharply by 48 per cent year-on-year in March, and 54 per cent YoY for SBI Card.

The company in a filing said the Ministry of Environment accorded environmental clearance for the proposed Greenfield project for manufacturing of speciality chemicals and chemical intermediates by Oriental Aromatics & Sons, a wholly-owned subsidiary of the company.