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A total of 1,503 shares changed hands on the counter till 11:56AM (IST).

The stock traded at a P/E multiple of 35.51, while the price-to-book value ratio stood at 6.74.

​So, right now, risk reward seems to be favourable for largecaps at least. On the mid and smallcaps, some stocks might be okay, but overall the valuations are still a bit high, so that is where we have to be more careful.

Zinka Logistics IPO GMP Today (Blackbuck IPO): The IPO of Zinka Logistics, operator of the BlackBuck platform, has been subscribed 34% by Monday morning, the final day of the bidding process. By 10:15 am, the issue received 78,26,166 bids out of the 2,25,67,270 shares available.

Goldman Sachs and Morgan Stanley downgraded their forecasts for Hong Kong and Chinese stocks, citing economic concerns and potential political impacts. While bullish on mainland China, Goldman Sachs believes Hong Kong will see limited growth and recommends mainland investments due to lower global sensitivity.

IT stocks came under pressure on Monday after US Federal Chair Jerome Powell’s comments suggesting a slowdown in interest rate cuts. Powell highlighted persistent inflation and a strong economy, allowing the Fed to approach decisions cautiously. Indian IT stocks, sensitive to US market moves, saw declines of up to 5%, with major companies like LTIMindtree and Wipro hit hardest.

As of 30-Jun-2024, promoters held 74.08 per cent stake in the company, while FIIs held 16.65 per cent and domestic institutional investors had 3.36 per cent.

Market braces for familiar governance; Globalisation still intact, says Viswas Raghavan of Citigroup

​But when fund outflows happen and so when there was euphoria, then we did not have to be euphoric and when there is a selloff which has taken markets down 12 odd percent and if it moves down another 2-3%, so these are good levels at least to come into largecaps. I do not think we should be too focused on funds flow. Funds flow can reverse any time.