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On the technical charts, the RSI of the stock stood at 25.41.

The Nifty 50 index has fallen 11% from its peak, signaling a sharp correction in Indian equities. Despite the decline, Kotak Institutional Equities remains cautious, citing stretched valuations, limited earnings growth, and unfavorable global conditions. The brokerage predicts modest earnings growth and warns that mid-cap, small-cap, and narrative-driven stocks could face deeper corrections.

The stock quoted a 52-week high price of Rs 2843.00 and low of Rs 1867.15.

The SME IPO of Sat Kartar Shopping, offering 41.72 lakh shares to raise Rs 34 crore, has been oversubscribed 12.7 times by January 11, with strong participation from retail and non-institutional investors. The price band is Rs 77-81 per share. The issue closes on January 14, with shares likely to be listed on January 17.

On the technical charts, the RSI of the stock stood at 63.35.

​We have seen over the years like there are so many companies who multiply in value despite such phases of underperformance.

Adani Wilmar share price: The company is a joint venture between the Adani Group and Wilmar International, is a prominent FMCG player in India, known for its essential kitchen products. Despite its strong market presence, the stock has faced challenges, declining by 26% over the past year.

Oil prices surged to their highest level in over three months, fueled by concerns that U.S. sanctions on Russia could reduce its oil output. Goldman Sachs indicated that Brent prices could exceed $85 per barrel if Russian production continues to decline.

I tend not to think about it in terms of triggers. The fact of the matter is, we are in currently a slightly weak patch in terms of economic growth. Certainly, there will be some improvement that should come through in terms of growth in the second half of the year.

The stock traded at a P/E multiple of 55.77, while the price-to-book value ratio stood at 14.15.