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Singapore is a popular location for cryptocurrency companies due to a comparatively clear regulatory and operating environment and is among the forerunners globally in developing a formal licensing framework.

“We are not seeing an across-the-board price hike over the next few months unless things take a turn for the worse.”

The Relative Strength Index of the stock stood at 74.78 on Monday.

Analysts do not see any change in capital gain tax on equity as equity taxation was introduced recently and the government would want to maintain continuity.

“Earnings are plateauing at very high levels which translates into very strong free cash flow generation and this in turn allows the companies to reduce debt very sharply.”

The stock quoted a 52-week high price of Rs 1063.75 and a 52-week low of Rs 620.55.

“I am sceptical about Reliance given the new capex they keep on announcing and what that could do to their strategy to achieve zero debt on the balance sheet. . We need to watch it. I do not see a significant upside in Reliance from current levels.”

A total of 8,645 shares changed hands on the counter till 01:40PM (IST)

The stock quoted a 52-week high price of Rs 2037.85 and a 52-week low of Rs 400.0.

The stock traded at a P/E multiple of 102.23, while the price-to-book value ratio stood at 16.45.