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Promoters held 48.76 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 20.71 per cent and 9.82 per cent, respectively.

Promoters held 48.76 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 20.71 per cent and 9.82 per cent, respectively.

The portfolio rejig comes ahead of the September quarter earnings season in which oil and gas and metal companies are expected to drag. “Sectors focused on domestic consumption, investments are likely to outperform the sectors dependent on global demand, cyclicals and commodities,” Motilal Oswal Financial Services said in a report.

The portfolio rejig comes ahead of the September quarter earnings season in which oil and gas and metal companies are expected to drag. “Sectors focused on domestic consumption, investments are likely to outperform the sectors dependent on global demand, cyclicals and commodities,” Motilal Oswal Financial Services said in a report.

The Nikkei share average opened down 0.18% and swung between losses and gains throughout the day, before closing down 0.02% at 26,396.83. The broader Topix lost 0.12%.The biggest loser on the Nikkei was semiconductor equipment maker Tokyo Electron Ltd, which fell 4.39% amid ongoing struggles in the chips industry. The Philadelphia semiconductor index has declined for four straight sessions.

The founder of Pabrai Investment Funds, through his funds, bought more than 14.55 lakh equity shares of Rain Industries in the July to September period

A total of 4,541 shares changed hands on the counter till 12:53PM (IST).

The issue kicked off for subscription on Monday, October 10 and will close for subscription on Wednesday, October 12. The company is selling its shares in the range of Rs 75-80 apiece to raise about Rs 310 crore via its initial stake sale.According to the data from BSE, the investors made bids for 1,66,59,990 equity shares or 78 per cent compared to the 2,12,69,714 equity shares offered for the subscription by 11.35 am on Wednesday, October 12.

Its earnings before interest and taxes margin is likely to expand 30-100 bps sequentially from 17%

“The pick-up in inflation starting in the summer of 2021 was quite obvious to me and I can see certain signs that in six months, we will turn the corner. If that is the case, I am pretty sure the central bank will again change the rhetoric and so that background will have gone. When the Fed policies turn, western markets will probably rally a lot more than India. But until that time, unless there are huge policy mistakes in India, it will stay expensive relative to other markets.”