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"RBI is doing a lot of buy/sell swaps to prevent showing a fall in spot foreign exchange reserves I guess. This is amplifying the signal from the interest rate spread between India and the U.S.," said Vivek Kumar,"The situation is really bad. There is dollar scarcity which is getting compounded by RBI taking delivery of maturing forward contracts," the head of forex trading at a private bank said.

“New investors think that the stock which has fallen the most is probably the most attractive. But it is not necessarily so. This is the time to completely reset your thought process and see which are the stocks that will do well going forward. Forget about how much they are down by or which are the most beaten stocks in your portfolio.”

Even in this terrible market situation, if you work hard enough, if you go kicking the tires, looking under the hood of companies across the country, rolling up your sleeves, going underneath the car, you may find 10 stocks that are good enough for the next 2-3 years, Sharma said.

With this acquisition, Greenlam now has four laminate manufacturing facilities in India, situated at Behror in Rajasthan, Nalagarh in Himachal Pradesh, Naidupeta in Andhra Pradesh, and the recently acquired facility at Prantij in Gujarat.

Asian stocks struggled and Wall Street ended lower overnight, after Federal Reserve Chair Jerome Powell said the U.S. central bank is "strongly committed" to bringing down inflation and policymakers are not trying to cause a recession in the process.

Promoters held 59.47 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 24.44 per cent and 3.63 per cent, respectively.

"When global markets are facing rate increases and recession, Japan is positioned differently," said Shuji Hosoi, senior strategist at Daiwa Securities."The Bank of Japan decided to keep its monetary policy unchanged, and the economic activities have started picking up since the COVID-19 restrictions were lifted."The Nikkei share average was up 0.08% at 26,171.25 when markets closed, continuing to trade above the psychological 26,000 mark after having dipped as low as 25,520.23 on Monday.

The stock quoted a 52-week high price of Rs 2739.95 and a 52-week low of Rs 772.95.

A total of 22,400 shares changed hands on the counter till 01:55PM (IST)

“I personally believe that right now we are getting the short end of the stick for global reasons. Whereas our own causes for concern are relatively transitory, I cannot say that for the US or for the rest of the world. I am looking forward to one year out rather than worrying about what is happening right now.”