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On the technical charts, the RSI of the stock stood at 59.84.

The stock traded at a P/E multiple of 125.86, while the price-to-book value ratio stood at 15.76.

As of 30-Jun-2024, promoters held 46.64 per cent stake in the company, while FIIs held 14.73 per cent and domestic institutional investors had 1.41 per cent.

A total of 6,343 shares changed hands on the counter till 12:58PM (IST).

The environment is good. Earnings growth this quarter will be probably around 10% and for the next few quarters it will also be in that range and rates are going to come down. And barring a recession, which I do not think is going to happen, the stock market should not fall too much.

The Nifty Bank index was trading 1.09 per cent down at 50757.6.

Akums Drugs and Pharma IPO: Akum Drugs and Pharmaceuticals set a price band of Rs 646 to Rs 679 per share for its IPO, aiming to raise Rs 1,857 crore. The IPO includes a fresh issue and an offer-for-sale by promoters and an existing investor.

And I think it will be good for the system because we have seen that exuberance, we had seen that stretch valuations, and everybody had started extrapolating returns that they have seen so far in the broader market, etc. So, it will be a welcome sign for the market.

On the technical charts, the RSI of the stock stood at 66.76.

Promoters held 43.92 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 13.67 per cent and 1.11 per cent, respectively.