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The company that owned the Walkman brand (synonymous with portable music devices) was nowhere to be found by the time Apple’s iTunes became the industry standard. Sony’s market valuation by 2012 was down 87 per cent from its 2003 highs (when iTunes was introduced) and down 97 per cent from the 2000 highs.

“Rerating as well as derating goes along with the growth cycle. When the growth is good, we get that double benefit of growth being good as well as PE or price to book getting rerated upwards. Similarly, where growth is cooling off or is negative, we see the stocks go through derating.”

IRCTC told stock exchanges that due to the withdrawal of Personal Data Protection Bill 2018 by the government of India, the e-tender for the appointment of consultant for data monetisation of Indian Railway floated by IRCTC on July 29 has been withdrawn.

The stock quoted a 52-week high price of Rs 848.0 and a 52-week low of Rs 595.85.

Investors will be allotted four shares of Piramal Pharma (PPL) for every one share of Piramal Enterprises (PEL) held in their demat account. If any investor wants to reap the advantage of the demerge can buy the stock on Monday to get the delivery of shares.After the demerger, promoters will hold a 44 per cent stake in Piramal Enterprises, whereas the remaining 56 per cent stake will remain with the public and other shareholders.

While the US dollar index has once again shot up above the 109 mark pushing the Indian rupee to a record low level, the US 10-year bond yield has also spiked above 3.1 per cent. Analysts say a surge in these two indicators are signals enough that FIIs would be very reluctant to be net buyers on Dalal Street, at least in the near term.

A total of 32,403 shares changed hands on the counter till 01:55PM (IST)

The Nifty Auto index was trading 0.8 per cent down at 12825.4.

"Historically, midcaps tend to perform well in the month of September as per seasonality analysis. So, we believe this theme would continue to be in play for the coming month. P&F ratio analysis shows a thought-provoking finding i.e. post an anchor column (bullish) it staged a bullish turtle breakout – which implies outperformance of midcaps against Nifty."

The pharma major fell more than 5 per cent in a week which triggered the breakdown from a 50-point range where Rs 700 acted as a stiff resistance while levels of Rs 658-660 and above acted as strong support. The stock closed at Rs 652 on 26 August 2022.