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Independent Analyst Manish Shah said the lows of the last three days are almost equal at 15,750 and the pattern in play is a tweezers bottom. It suggests Nifty50 is not ready to slip below the support at 15,750, Shah said.

Escalation in geopolitical tensions due to the war between Russia and Ukraine, hikes in interest rates by the US Fed along with its hawkish guidance, volatile crude prices, and surging inflation globally, among other causes, prompted investors to turn risk-averse during the quarter under review, the report noted.

A report said the company’s CEO Ajay Srinivasan was apparently sent packing recently due to a whistleblower allegation of insider trading and frontrunning at Aditya Birla Sun Life AMC, which is the mutual fund arm and is also listed on exchanges.

“If you take a 6 to 12 month view and are very focussed on near term performance, I would say shift to quality largecaps as that would be where you will conserve capital a lot more. But if you take a three to five year view, I am pretty sure that there are a lot of midcap and small cap stocks which will correct quite a bit in this downturn and which will come to levels which would be very attractive.”

“I would say LIC listing is definitely good for the markets. LIC’s product mix is a bit different from other insurers because LIC is into non-linked products and one cannot really compare them. It is not an apple to apple comparison and cannot really extrapolate this listing and the ruboff it will have on other insurance companies.”

Market veteran Hiren Ved, whose experience on Dalal Street spans over 30 years, says he learnt early on to never regret any investment decision and instead learn and move on. Ved, who is tracking market swings from as young as 18 years of age, says he used to visit the stock market after his college classes, and soon got into the habit of attending annual shareholder meetings.

Analysts see adjusted net profits rising in the range of 150-600 per cent year-on-year (YoY). According to their estimates, revenue will likely grow 22-24 per cent compared to the last year.

​​Market participants initially get intoxicated by a given idea and price an asset far higher than its fair value. When realities change, and fair value contracts, markets go into extreme panic mode and price that asset way lower than warranted.

“We are very clear that we will continue driving profitability, we will do growth with profits but we are not going to optimise profits at this stage. So, we are reinvesting a lot of our margins and a lot of the EBITDA that we have into growing faster and you will see that play out in FY23 where a lot of the investment we have made in FY22 will accelerate our growth.”

The company has cut the size of the fresh issue from Rs 200 crore to Rs 161 crore. Besides, there will be an Offer-For-Sale (OFS) of 98.35 lakh shares by promoters and existing shareholders.