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The Relative Strength Index of the stock stood at 49.52 on Tuesday.

The issue is entirely an offer for sale (OFS) by the existing shareholders of the company who will offload 85.49,340 shares with a face value of Rs 5 each. The company will not receive any proceeds from the issue.

The smallcap sugar player posted a net profit of Rs 35.49 crore for the quarter ended March 31, 2022, up nearly 900 per cent against a net profit of Rs 3.55 crore reported in the same quarter the previous year.

Inflation impacts the broader economy and so affects all sectors with varying degrees of intensity. Most impacted would be consumer-facing sectors like FMCG, consumer discretionary, and auto. While their input cost is directly linked to underlying commodity prices, market competition does not allow cost pressures to be passed on easily. Also, during periods of high inflation, purchasing power of consumers comes down, thus impacting demand.

“A lot of commodities currencies are giving early signs, which is the first reflection that something is much better in the emerging market as compared to developed markets. We remain very constructive on the emerging market as a theme. It is a theme which can play out for the current decade and India should be a decisive winner in that theme.”

“A big trigger will be the listing of Reliance Retail and of Jio Platforms. Second is the entire green initiative. There are three, four major players which will come into battery manufacturing and Reliance will be one of those. I am holding the stock. I am not giving a buy call on this but there are multiple triggers.”

Zensar Technologies saw retail holding rising to 13.75 per cent from 10.89 per cent sequentially. This scrip is down 22 per cent in the last one month and 42 per cent year-to-date.

Jindal Stainless Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 8738.99 Crore) operating in Metals - Ferrous sector.

“Look at some of the commodity consumers and have a bit of a contra strategy in place rather than go for the commodity producers. Go for auto, FMCG appliance space, building material, banks and midcap IT. But most importantly, go for good solid companies which are leaders in their particular field or who have got a slightly differentiated business model and have a solid track record of delivery on the financial front and good corporate governance standards.”

Infosys and Reliance Industries led the Sensex gainers falling 0.8 per cent each. Tata Steel, ICICI Bank, Bajaj Finance, Wipro and Titan Company edged lower.