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The buyers converged at the stock after heavy selling in the last few days made it appetizing. It still trades down over 13 per cent from issue price of the IPO. The market cap of the firms stands at Rs 5,21,021.69 crore.

The company was on track to lose $15 billion in market capitalization, while shares of major online advertisers and social-media firms were set to lose a combine $200 billion in value from the rout.

​​ Overall, this will likely drive system loan growth to improve sustainably to trend 12-13 per cent levels (from 10 per cent now),” said Anand Swaminathan, Research Analyst at Merrill Lynch, a subsidiary of BofA.

Long-term investors can look at putting fresh money at current levels or on dips for a target towards Rs 310, they say.

Apart from penalising Ramkrishna, Sebi had imposed a penalty on Ravi Narain, who was the predecessor of Ramkrishna, and Subramanian and others.In its fresh notice, Sebi directed Ramkrishna to pay Rs 3.12 crore, which includes interest and recovery cost, within 15 days.

Cryptocurrencies - historically a niche asset favoured by risk-hungry investors, exploded in size during the COVID-19 pandemic. Institutional investors especially were drawn by claims that bitcoin acts as a hedge against inflation and offers high returns in the face of low interest rates.

UNO Minda Group CMD Nirmal K Minda said despite turbulent times for the auto industry on the back of shortage of semi-conductors, rising input costs, geo-political tensions, the company was able to register growth in its revenues and profitability.

“Last year seven million tons of sugar were exported by the industry and this year we are expecting exports to be anywhere between 9 million tons to 9.5 million tons and this is what the government expects. As far as 10 million tons is concerned, we have very serious doubts whether that will be achieved or not.”

The city-based company had registered profit after tax at Rs 65.96 crore during corresponding quarter previous year.For the year ending March 31, 2022 PAT grew to Rs 93.97 crore, from Rs 55.56 crore registered year ago.​

Majority of the IT players have missed the consensus growth expectations and the margin outlook has been moderate. BSE IT index is down by 8 per cent in the current year so far.