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The 52-week low is the lowest price a stock has traded during the last one year

“It was a phenomenal comeback by the bulls on the D-Street. The index Nifty is again above 18,000 mark while Nifty Bank index is back above 42,500." Mehul Kothari - AVP, Technical Research, Anand Rathi Shares & Stock Brokers, said.

The company is selling its shares in the range of Rs 94-99 apiece between December 23 and 27, with a lot size of 150 equity shares. The offer comprises a fresh issue of Rs 60 crore and an offer for sale (OFS) of 3.31 crore units.

The board of directors considered and approved to raise capital through an issuance of non-convertible redeemable unsecured Basel III compliant tier II bonds for amount up to Rs 1,500 crore

The overall structure shows that the index will likely witness both-side movements in the coming days

“When we say buy on dips, I am definitely bullish especially on the banking sector and especially on the PSU banks. And 42,000 or 41,700 was a major support for the Bank Nifty. Once it breaks, then only will there be further downside to it. Otherwise, use all dips to buy.”

Gold price traded steady in the domestic market due to lack of cues from the global market due to holiday season," said Dilip Parmar, Research Analyst at HDFC Securities. Gold prices are likely to trade sideways due to lack of market participants. However short-term trend is still bullish in gold, Parmar added.

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Broader markets outperformed benchmarks, with Nifty Midcap 100 ending close to 3% higher. Among sectoral indices, the PSU Bank index was the star performer, with gains to the tune of over 7%.

​​​​The company said that it sees positive signs of recovery going forward in the edible oils business for H2FY23, with softening of commodity prices and the recent uptick in demand on the back of festivities and weddings.