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The Relative Strength Index of the stock stood at 56.11 on Wednesday.

​I think we are undermining what actually happened yesterday. Many stocks were down anywhere from 10% to 25%. So, I think there is not much of a scope for incremental damage except for the sector rotation which may come through.

Adani group stocks rebounded up to 6% on Wednesday after an initial 15% decline, triggered by election result disappointment. On Tuesday, all 10 Adani companies faced losses, shedding around Rs 3 lakh crore. Global brokerage Jefferies recommends buying Adani Enterprises, Adani Ports, and Adani Energy Solutions.

FMCG stocks surged amid falling markets post-election results, with players like Heritage, Marico, Zydus Wellness, and Godrej Consumer Products rallying. Defensive stocks gained favor as the FMCG index rose by over 5%.

Indian Hotels Company Ltd., incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 75484.61 Crore) operating in Tourism & Hospitality sector.

The stock quoted a 52-week high price of Rs 410.0 and a 52-week low of Rs 262.1.

Nifty futures ended down by 6.12% at 21975 levels, with India VIX surging by 27.75%. Options data indicates major Call OI at 23000 and 22500, and significant Put OI at 21000 and 21500 strikes.

According to technical scan data from stockedge.com, on June 4, the closing prices of five small-cap stocks experienced a decline of over 7.5% compared to the Volume Weighted Average Price (VWAP). This movement below the VWAP indicates a potential bearish trend.

A total of 8,112 shares changed hands on the counter till 10:35AM (IST)