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“The selloff has nothing to do with our fundamentals. Our job as sensible investors is to just keep a rational mind and keep buying the same stocks – the high quality, high cash generative, great franchises – which are available even cheaper now than they were two months ago. We are buying as much as we can.”

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A total of 13,709 shares changed hands on the counter till 12:53PM (IST)

Promoters held 49.5 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 28.23 per cent and 0.69 per cent, respectively.

The company reported around 53 per cent revenue growth in Q4FY22 on a standalone basis, the highest among peer retail players as consumer sentiments improved with the gradual reopening of the economy. Brokerage Axis Securities expects this momentum to continue in forthcoming quarters as well, especially when FY23 is likely to be free from Covid-induced restrictions, it said.

The equity strategist doesn’t find the selloff unexpected. “I think this whole year is going to be a weak year from the returns perspective and while the Nifty has corrected to less than 16,000, I really do not think that we will still be making positive returns from here on in the rest of the year,” he told ET Now.

The US inflation print surprised the market by hitting a 40-year high and intensified the fear that the US Fed will be more aggressive in the FOMC meeting scheduled later this week.

The Nifty Realty index was trading 1.83 per cent up at 394.95.

The Relative Strength Index of the stock stood at 46.49 on Tuesday.

Rogers said the ongoing bear market in the US could be the worst bear market of his lifetime, suggesting that US stocks may fall a lot more going ahead.