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The issue will ensure one rights equity share for every two fully-paid up equity shares held by the eligible shareholders of the company as on the record date.

"COMEX gold edged slightly higher as traders cautiously await highly anticipated US inflation data later today," said Dilip Parmar, Research Analyst at HDFC Securities.

“Near term because China is so cheap and India goes through this kind of a course correction where we are a current account deficit country, it may work to China’s advantage and China may outperform India. For the India funds, we are more defensive from the next 6-9 months’ perspective. Longer term, it is a strong domestic story. ”

"We want to see how the market reacts. The CPI has been making big movements each month of late, and this time it could fluctuate significantly either upwards or downwards, so we expect investors will want to reduce positions in advance," Akino said.

The consumer electronics retailer is commanding a premium of Rs28-30 in the unofficial market

The stock quoted a 52-week high price of Rs 817.95 and low of Rs 469.75.

The company has proposed a buyback of 14,16,666 fully paid-up equity shares of the face value of Rs 1 each at Rs 1,200 per share through the tender offer process

The Relative Strength Index of the stock stood at 41.59 on Thursday.

"Further, we have received consent for operation for 645 KLPD distillery. We will update on the trial run of 645 KLPD Distillery in due course," the company told the bourses in the exchange further.

A total of 36,512 shares changed hands on the counter till 01:19PM (IST)