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The rupee closed at 79.9750 per U.S. dollar, down from 79.75 in the previous session. The rupee opened a tad lower at 79.79 and continued to toil lower through the session. The mobilisation of troops by Russian President Vladimir Putin piled on more pressure on the rupee, already weighed by the surging dollar index.

​​The 30-share Sensex declined 262.96 points to end at 59,456.78. Its broader peer, Nifty50, ended at 17,718.35, up 97.90 points.

Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 34.83 per cent and 2.71 per cent, respectively.

“The valuations currently would look extremely expensive. It is quoting at about 50 times forward PE which is definitely very comparable to the existing FMCG companies. People like to participate in niche companies like Patanjali and if they deliver good in terms of growth and capital raising, that will bring in an additional amount of excitement.”

The Relative Strength Index of the stock stood at 72.52 on Wednesday.

A total of 92,075 shares changed hands on the counter till 02:11PM (IST)

The policy decision, due at 1800 GMT, will mark the latest move in a synchronized policy shift by global central banks that is testing the resilience of the world economy and the ability of countries to manage exchange rate shocks as the value of the dollar soars.

“I think IPOs have taken a breather but it will be probably three to six months away from coming back,” Debasish Purohit, co-head of India investment banking at Bank of America, said in a Bloomberg Television interview on Wednesday. Some of last year’s IPO activity has more recently given way to sales of secondary shares, which are quicker and give holders a chance to monetize their stakes, Purohit said.

The encumbered shares account for Adani Group’s 57 per cent stake in ACC and a 63 per cent stake in Ambuja Cements.

“Nifty, Sensex and midcap whatever my allocation is there in the passive portions. If I got Rs 100, I will allocate Rs 30 to Rs 40 overall into the passives; remaining I will keep in the actives because I still firmly believe that active will continue to outperform the index funds.”