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Companies on the SEC list led the slump on Friday. Yum China Holdings, Zai Lab, HUTCHMED (China) Ltd and Beigene Ltd fell between 10% and 16%. In Shanghai, shares of ACM Research Shanghai Inc were down 10%.

“India is an oil importing country and it is not just the direct oil and commodity companies but thousands of other items like tyres and cement and coal and coke, even baby diapers and lipsticks are also impacted. There will be an earnings downgrade for India at the Nifty level of about 10-15% and individual stocks and earnings will fall far more. ”

JM Financial said AU SFB trades at premium valuations of 4.2 times FY23 and 3.5 times FY24 book value per share (BVPS), which adequately captures the positives - superior return profile and a long runway to growth. The brokerage has a hold rating on the stock with a target of Rs 1,400, valued at 4.3 times FY24 BVPS.

The stock quoted a 52-week high of Rs 701.75 and a 52-week low of Rs 469.75.

That prodded Didi to say it would begin the process of delisting from the New York stock exchange just months after its initial public offering and instead look to Hong Kong.

As of 31-Dec-2021, promoters held 48.05 per cent stake in the company, while FIIs held 28.12 per cent and domestic institutional investors had 11.33 per cent.

A total of 10,043 shares changed hands on the counter till 01:08PM (IST).

The Nifty Realty index closed 2.23 per cent up at 428.2.

The stock traded at a P/E multiple of -12.46, while the price-to-book value ratio stood at 599.54.

The company has earmarked an initial investment of Rs 100 crore in NeoSky, which will design, manufacture and sell consumer micro drones across India, RattanIndia Enterprises Business Chairperson Anjali Rattan Nashier told PTI.