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The valuation of India’s largest online pharmacy, which has grown aggressively through VC money and 11 acquisitions so far, has dropped and could be at almost half its October 2021 pre-IPO valuation.

Crude prices on both sides of the Atlantic have surged more than 15% this year due to uncertainties stemming from the Russia-Ukraine conflict. Energy costs have also soared with Moscow slashing gas supplies to Europe amid Western sanctions imposed over its invasion of its neighbour.

U.S. inflation data is due at 1230 GMT and the consensus is for the core inflation rate last month to have risen 0.3% month-on-month, the same as in July. Recent dollar gains have slowed on market expectations that peaking inflation will mean less aggressive interest rate hikes from the Federal Reserve.

The shift in expectations for the larger hike has pushed the dollar to a two-decade high against a basket of currencies. The U.S. currency was forecast to extend its dominance for the remainder of this year and into early next.

Bajaj Finance shall trade ex-bonus as well as ex-split in trade today. The NBFC company announced bonus share issuance in the ratio of 1:1 i.e. 1 share for every 1 share held by the investor. Likewise, the company announced the stock split from an earlier face value of Rs 5 to its new face value of Re 1.

Stocks that were in focus included names like Navin Fluorine which closed with gains of more than 6 per cent, Hindustan Aeronautics closed with gains of over 7 per cent, and Lemon Tree hit a fresh 52-week high closed with gains of over 2 per cent on Monday.

"The Nifty Midcap index has rallied smartly from the recent swing low and has surpassed the April 2022 swing high by a small margin. But given the uncertainty in the global markets, we could see a rise in volatility in the near term in the midcap basket. Thus, it is better to be very stock specific and focus on companies that have focused on domestic growth opportunities and have seen consistent earnings growth."

“By and large when the market is super bullish on looking for new ideas, holding companies come up and one can see some of their discount narrow. One can look at Tata Investment as that has always been a stock which has traded at almost 40-50 discount to its holding. One could look at that as a closed-end mutual fund,” says Anand Tandon.

“For something that grows at 10-11%, we are paying 27-30-40 times earnings and it is the rainy season. So a lot of demand will come in the December season, for the Diwali. That expectation plus the price hikes are making cement stocks go up, but overall I feel it is a very temporary move. These stocks are overvalued. This is not the greatest time to buy into a five-year cycle. I am avoiding the sector for now.”

La Opala RG Ltd. key Products/Revenue Segments include Glass & Glassware, Export Incentives, Scrap and Electricity for the year ending 31-Mar-2021.