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The research firm further stated that "we had been concerned about their post moratorium capital structure, ability to improve their liability franchise and retaining their existing employees, given that the organization needs time to recover."

The quota for employees was subscribed 2.41 times, whereas the retail portion was booked 44%. The allocation for non-institutional investors was subscribed 91% but the portion for qualified institutional bidders was booked only 30%.

A total of 363,791 shares changed hands on the counter till 02:11PM (IST)

The stock quoted a 52-week high price of Rs 115.63 and low of Rs 83.0.

As of 30-Sep-2022, promoters held 46.83 per cent stake in the company, while FIIs held 13.81 per cent and domestic institutional investors had 16.44 per cent.

U.S. stocks closed lower in volatile trading overnight, following a policy announcement by the Fed that raised interest rates by an expected 50 basis points, but its economic projections see higher rates for a longer period.

Poonawalla Fincorp, incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 22831.08 Crore) operating in NBFC sector.

The stock traded at a P/E multiple of 73.19, while the price-to-book value ratio stood at 17.88.

“Going forward, one has to be extremely mindful of the valuations that one is paying for companies that we are buying or even the companies that are in the portfolio of people. People should take a hard look at the valuations, cash flows in the near term and not just depend on future promises. If we keep these two points aside, things are pretty normal.”

A total of 7,709 shares changed hands on the counter till 01:14PM (IST)