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The stock generated a negative return of 53.12 per cent as compared to a 21.65 per cent upside seen in Nifty Financial Services over a three-year period.

On the technical charts, the 200-day moving average of the stock stood at Rs 2089.61.

A total of 228,813 shares changed hands on the counter till 02:11PM (IST).

However, on the weekly charts, the stock is still trading below the 50 and 200-WMA, but bulls helped it to surpass the Rs 1,945 high formed on 30 May 2022 week. Short-term traders can look into buying the stock now or on dips for a possible target towards Rs 2,325-2,725 in the next six months, suggest experts.

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Unifarm has a grant from Router Protocol to use their SDK to build ‘Setu’ that comes as a part of a larger round with participation from various blockchain funds and investors.

Grasim Industries saw the maximum addition in the number of shares. The company, where 19 mutual funds own less than a 2 per cent stake, saw a 14.5 per cent addition in the number of shares in June on a month-on-month basis. MFs held about Rs 4,090 crore Grasim shares at the end of June, up 6.8 per cent

“We have been doing this business for 12 years now and if we were to look at our account openings or the overall account openings in the country and we had to map it to the Nifty or maybe even the Nifty midcap index, it was almost a mirror image. It has always been like this. When markets do well, new people come. When markets do not do well, new people stop coming,” Kamath said.

“For the eight to 10 years after the 2008-09 Lehman crisis, the capital goods or engineering stocks were down in the dumps but they have now started emerging out of the gloom and when any sector wakes up after so long being in slumber, it is more likely to be a 3-5-year run up. Real estate is the other theme which will play out over the next few years although unlike capital goods, here the cash flows are not that strong.”

As of 31-Mar-2022, promoters held 0.0 per cent stake in the company, while FIIs held 9.35 per cent and domestic institutional investors had 1.93 per cent.