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The proceeds from the proposed offering will be used by the company to purchase drones and other accessories, and for other general corporate expenses.

Both net profit and revenue were above the ET Now poll estimate of Rs 256 crore and Rs 3,341 crore, respectively.

Both net profit and revenue were above the ET Now poll estimate of Rs 256 crore and Rs 3,341 crore, respectively.

The Nifty Bank index closed 0.68 per cent down at 40099.55.

“I do not think there is any momentum pick in the next three-four months at least from an IT perspective. But considering that valuation is only one factor, if we have a view for next year plus or so, a lot of companies in the midcap as well as the largecap IT space remain very good picks.”

“While the festive season sale surge in shipment volumes will spill over to Q3FY22 as well, we anticipate moderate growth in shipment volumes through the rest of the financial year," Delhivery said in a BSE filing.

Among global brokerages, BofA Securities and CLSA both have given target prices of Rs 1,400, which signals an upside potential of 20%

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“There are lots of ideas and it is very hard to pick one idea. Companies like L&T, ICICI Bank, IndusInd Bank, Aditya Birla Capital all of them according to me will be very well placed. We recently added Aditya Birla Capital and we think from this Diwali to next, Diwali also, it can surprise us and deliver superior returns. ”

He said a momentum investor will have a tough time managing volatility.