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Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 34.83 per cent and 2.71 per cent, respectively.

“The valuations currently would look extremely expensive. It is quoting at about 50 times forward PE which is definitely very comparable to the existing FMCG companies. People like to participate in niche companies like Patanjali and if they deliver good in terms of growth and capital raising, that will bring in an additional amount of excitement.”

The Relative Strength Index of the stock stood at 72.52 on Wednesday.

A total of 92,075 shares changed hands on the counter till 02:11PM (IST)

The policy decision, due at 1800 GMT, will mark the latest move in a synchronized policy shift by global central banks that is testing the resilience of the world economy and the ability of countries to manage exchange rate shocks as the value of the dollar soars.

“I think IPOs have taken a breather but it will be probably three to six months away from coming back,” Debasish Purohit, co-head of India investment banking at Bank of America, said in a Bloomberg Television interview on Wednesday. Some of last year’s IPO activity has more recently given way to sales of secondary shares, which are quicker and give holders a chance to monetize their stakes, Purohit said.

The encumbered shares account for Adani Group’s 57 per cent stake in ACC and a 63 per cent stake in Ambuja Cements.

“Nifty, Sensex and midcap whatever my allocation is there in the passive portions. If I got Rs 100, I will allocate Rs 30 to Rs 40 overall into the passives; remaining I will keep in the actives because I still firmly believe that active will continue to outperform the index funds.”

The CSI 300 Index ended down 0.7%, hitting the lowest level since May 9, while the Shanghai Composite Index edged down 0.2%. The Hang Sang Index fell 1.8%, and the Hang Seng China Enterprises Index declined 2.2%. Other Asian stocks fell, following a sell-off on Wall Street overnight. The yuan also weakened to a new 26-month low against a rising dollar right ahead of the Fed policy settings.

The Federal Open Market Committee is expected to raise rates by 75 basis points on Wednesday for a third straight meeting, delivering the most aggressive tightening since Paul Volcker led the central bank in the early 1980s.