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The stock traded at a P/E multiple of -13.53, while the price-to-book value ratio stood at 599.54.

“We have a big overweight position in specialty chemicals; we continue to hold it. We have increased our exposure to IT and a new sector, theme or trend that we have added in this fall is capital markets. And that is how we are planning to navigate the year ahead.”

​​Every investor needs to look at the valuation and, more importantly, the problem a particular coin is solving, and if that can disrupt a sector in the coming years.

The main goal behind the SHIB project is to create one of the strongest communities in crypto history, said Edul Patel, CEO and Co-founder of Mudrex. "Its big announcements of getting into metaverse space and offering more than 100 thousand plots of virtual space have gathered more than 3 million followers, adding to the token."

Portfolio inflows have been more volatile given the COVID-19 panic, but still have been significant with almost $22 billion of net investment in equity and debt since December 2020.

The S&P 500 Index fell 1.2% in the last hour of trading on Thursday, marking the largest hourly drop for the index in more than three weeks. It finished the day down 1.56%, with some attributing part of the weakness to the large options trade that went down earlier in the day.

"The US IPO market remains on life support," said Bill Smith, chief executive of Renaissance Capital.

A total of 20,682 shares changed hands on the counter till 01:34PM (IST)

Promoters held 69.44 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 11.66 per cent and 4.42 per cent, respectively.

The Relative Strength Index of the stock stood at 65.6 on Friday.