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Roubini expects the US and global recession to last all of 2023, depending on how severe the supply shocks and financial distress will be. During the 2008 crisis, households and banks took the hardest hits. This time around, he said corporations, and shadow banks, such as hedge funds, private equity and credit funds.

A total of 3,856 shares changed hands on the counter till 01:19PM (IST).

The company will also be constructing an integrated warehousing complex and offer first and last-mile road delivery for providing end-to-end multimodal services to the industrial areas of the Jaipur market, including connecting areas.

With the US market in the doldrums and the European market facing soaring inflation, there seems to be little to no respite for global markets experiencing one misfortune after another. The stimulus packages announced by several Western nations in response to Covid have now significantly raised their respective debts.

In the last five years, Gautam Adani’s wealth, fuelled by acquisitions and organic growth, has increased by an astounding 1,440 per cent. The combined market value of the Adani group’s seven publicly traded companies, all of which carry the industrialist’s name, has increased significantly in the past few years.

The Relative Strength Index of the stock stood at 46.58 on Wednesday.

With a wealth of Rs 1.75 lakh crore, the 67-year-old Mumbai-based business magnate moved up two ranks to take the fifth spot in the rich list which is dominated by Gautam Adani and Mukesh Ambani. In the last five years, the wealth of Damani has increased by 280 per cent or Rs 1,28,800 crore. Data from the rich list shows that he earned Rs 57 crore every day and his wealth jumped 13 per cent in the last one year period.

As per Trendlyne data, the highest target for stock goes up to Rs 60, while the average estimate of Rs 46.8 shows an upside of the potential of around 11.4 per cent from current prices. Out of the six analysts covering the stock, three of them have a strong sell rating, one has a strong buy rating and other two have a hold rating.

The stock quoted a 52-week high price of Rs 1081.0 and a 52-week low of Rs 697.05.

"We are not for or against algo trading as long as there is sufficient transparency and disclosures. Business models cannot rely on a black box... therefore any claim that cannot be audited and validated cannot be permitted," Buch said addressing the Global Fintech Fest here this morning.