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The stock with a market capitalisation of nearly Rs 40,000 crore hit a fresh 52-week high of Rs 786.65 on August 4, 2021, and since then the trend went sideways.

Star’s consolidated sales volume surged27% YoY on continued ramp-up of Siliguri plant and healthy demand in the northeast (NE) region.

​The company continued to demonstrate its superior execution capabilities by achieving the highest number of sub adds in the industry for the third quarter in a row, along with the highest flow-through of tariff hike to ARPU. The focus on non-wireless businesses has been reflected in strong revenue growth.

​WLDL reported ~27% growth in revenues, led by 23% SSG and new store additions (up 7% to 326 stores). Compared toQ4FY20, revenue growth was ~35%, led by a complete recovery in the dine-in channel and doubling of convenience sales (48% mix now vs. 32% in Q4FY20).

The company and its shareholders plan to raise Rs 472 crore from the primary market. The issue consists of issuance of fresh equity shares of Rs 375 crore and offer for sale (OFS) of up to 11.08 lakh equity shares by existing shareholders and promoter aggregating to Rs 97.3 crore.

“Normally people link slippages with the subsequent provisions but in our case we have got a situation where we start providing even before the slippages are reckoned which means that earlier sign of stress is also being very carefully monitored and appropriate actions are taken to insulate the balance sheet from any future shock.”

The profit figure was sharply lower compared with an ET Now analysts’ poll projection of Rs 560 crore.

As of 31-Mar-2022, promoters held 38.17 per cent stake in the company, while FIIs held 33.99 per cent and domestic institutional investors had 11.9 per cent.

While the bottom-up outlook remains positive from most Services, Software and SaaS names YTD, and the tech spending cycle remains buoyant structurally, we feel there are more downside risks to current earnings assumptions

A total of 16,903 shares changed hands on the counter till 01:34PM (IST).