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Analysts said sugar prices have skyrocketed in international markets as a result of the drought in Brazil. The world was hoping India, which is the second-largest exporter, would fill the gap. To an extent, the country has taken the mettle and thus margins of all sugar export companies in India have surged as well. But, now the government action may play spoilsport, said some analysts.

The company has reserved 50 per cent of the net offer for qualified institutional buyers (QIBs), whereas non-institutional buyers (NIIs) will get 15 per cent allocation. Remaining 35 per cent shares will be given to the retail bidders.

As of 31-Mar-2022, promoters held 0.22 per cent stake in the company, while FIIs held 47.86 per cent and domestic institutional investors had 15.44 per cent.

“The larger cap space, which has seen immediate corrections after the entire selling, will provide more stability to the portfolio. So go for a 50-60% allocation to a largecap, multicap or a flexicap fund. Midcaps and smallcaps could see further volatility. Go into mid and smallcaps with a three-year view. I would recommend 15-20% allocation in the mid and smallcap space.”

The Relative Strength Index of the stock stood at 51.84 on Thursday.

Higher short-term US interest rates and bond yields raise the opportunity cost of holding bullion, which yields nothing. Gold is, however, seen as a safe-haven asset during financial crises.

Revenue from operations during the quarter rose 27.77 per cent to Rs 2,012.48 crore as compared to Rs 1,575.08 crore in the same period of the previous fiscal.

Apollo Hospital’s scrip fell to a low of Rs 3,365.90 as against Rs 3,525.75 at the previous close on the BSE. The stock was last trading 1.5 per cent lower.

As of 31-Mar-2022, promoters held 26.45 per cent stake in the company, while FIIs held 53.88 per cent and domestic institutional investors had 5.3 per cent.

The company had posted a consolidated net profit of Rs 619.92 crore in the quarter ended March 31, 2021.