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“The investors who have some liquidity should be using this dip to nimble into some of the names, particularly the categories, which are not so directly affected by the high inflation and the high interest rate environment. We do think that having seen such a sharp selloff in both IT and banks, one could really look to buy into it in a staggered way for investors.”

On Wednesday, the partially convertible rupee opened at 77.2720/$1 as against 77.3300/$1 at previous close. The Indian currency, which was last at 77.2260/$1, moved in a band of 77.1440-77.5750/$1 so far in the day.

Ajanta Pharma Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 13758.77 Crore) operating in Pharmaceuticals sector.

The paint manufacturer reported a decline of 84.49 per cent in its consolidated net profit to Rs 19.17 crore for the fourth quarter ended March. The company had posted a net profit of Rs 123.62 crore in the January-March quarter a year ago.

If the stock manages to hold onto crucial support levels of Rs 1,500, then a bounce back towards Rs 1,640-1,680 is possible, suggest experts.

On the technical charts, the 200-day moving average of the stock stood at Rs 377.76.

According to the data from BSE, investors made bids for 18,78,450 equity shares or merely three per cent of the 6,25,41,023 equity shares offered for bidding by 11 am on Wednesday.

As of 31-Mar-2022, promoters held 28.23 per cent stake in the company, while FIIs held 34.31 per cent and domestic institutional investors had 11.22 per cent.

Canara Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.

The principal payment of ₹24 crore and interest of more than ₹2 crore for the NCDs were payable by Monday, the company informed the stock exchanges on Tuesday. "The company is unable to service its obligations in respect of the principal and interest on non-convertible debentures that was due on May 9, 2022," the filing said.