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"The Indian government has taken the cognizance of extraordinary price increases in the global markets and enhanced subsidy for NPK fertilisers to ensure affordable costs for the farmers. We continue to focus on value added crop specific portfolio and help farmers optimise their costs. Long term growth is expected from our continuous endeavour to transform from a commodity to speciality play in each of the product segments."

The company derives 50 per cent of its revenues from the life science chemicals division while the specialty chemicals and nutrition and health solution business account for 32 per cent and 18 per cent of revenues, respectively.

Gold futures on MCX were trading lower, down almost 0.34 per cent or Rs 173 at Rs 50,587 per 10 grams. Meanwhile, silver futures plunged about 1.27 per cent or Rs 781 at Rs 60,490 per kg.

At the interbank foreign exchange, the rupee opened unchanged at 78.13 against the US dollar, then inched lower to quote 78.17, registering a decline of 4 paise over the last close.

The Nifty Realty index was trading 1.21 per cent down at 379.65.

A total of 11,423 shares changed hands on the counter till 10:30AM (IST)

Muthoot Finance Ltd., incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 40487.71 Crore) operating in NBFC sector.

The S&P500 futures were trading 0.99 per cent lower at 3,730, hinting at a weak start for US stocks later in the day. While markets such as Japan, China, and Australia edged up to 0.3 per cent lower, those in Hong Kong, Taiwan and Korea were down up to 2 per cent.

Investors are continuing to assess how worried they need to be about central banks pushing the world economy into recession as they attempt to curtail red hot inflation with interest rate increases.

Bitcoin dipped marginally but sustained above $20,000, whereas Ethereum was also under some pressure. Market experts see the volatility in the crypto market to continue in the near term.