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“Could equity markets fall further? They may fall further with the different kind of stuff which is happening around us in the global markets but then we would basically be very clear that if we have another 5% fall from here, the markets will be in a significantly undervalued zone. ”

A total of 22,024 shares changed hands on the counter till 12:48PM (IST)

The bidding was majorly driven by retail bidders, whose portion was subscribed 1.11 times. Employee quota was subscribed 73 per cent, whereas HNIs bid for 23 per cent of their allocation. Institutional bidders kept off the bidding process.

According to the data from Ace Equity, as many as 400 stocks from the BSE500 index have tumbled between 20-76 per cent from their respective 52-week highs. BSE500 index constitutes about 95 per cent of the total market capitalization of BSE.

Total standalone income during the January-March quarter of 2021-22 stood at Rs 21,095 crore, down from Rs 21,386 crore in the same period of 2021-21, PNB said in a regulatory filing.

From the April high of 18,115 for Nifty50, a 14 per cent correction would mature at 15,580, the brokerage said.

The firm reported a 55.44 per cent decline in its consolidated net profit to Rs 111.08 crore in the fourth quarter ended on March 31, 2022. It had posted a net profit of Rs 249.33 crore in the January-March quarter a year ago.

“Realisations have further improved compared to the exit price of the quarter largely necessitated by the unrelenting increase in fuel prices. Demand sentiment as well is fairly buoyant, helping sustain the price revision,” Sagar Cements’ Joint Managing Director Sreekanth Reddy was quoted as saying in PTI’s report.

Net interest margin, a key profitability measure, improved marginally at 2.87 per cent for the reporting quarter against 2.34 per cent in the year-ago quarter. Net interest income for the quarter stood at Rs 4255 crore showing a 28 per cent year-on-year rise.

Promoters held 66.33 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 16.62 per cent and 2.0 per cent, respectively.