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The company has reserved 75 per cent of the net offer for qualified institutional buyers (QIBs), whereas non institutional buyers (NIIs) will get 15 per cent allocation. Remaining 10 per cent shares will be given to retail bidders.

Promoters held 48.76 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 20.83 per cent and 10.09 per cent, respectively.

“Fundamentally as things start to look bad, we start cutting exposure. We are completely out of metals. We have reduced a lot of IT because they were going out of our screeners and we follow a very strict risk management framework and we do not go out of it even though we might have other opinions. But markets are never wrong and the opinions often are. We try to follow the market.”

Tata Motors continues to remain our top pick, given its improving India franchise, early leadership in EVs in India, and JLR’s aggressive cost controls, said YES Securities.

Chemplast Sanmar Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 1187.55 Crore) operating in General sector.

“IT and banking are the two sectors which are looking good from a risk reward perspective and post corrections, we like most of the tier I names in the IT space. It is very difficult to look at shorts at this point of time and with the kind of decline that we have seen, we are expecting a relief bounce.”

Sheela Foam Ltd., incorporated in the year 1971, is a Mid Cap company (having a market cap of Rs 15425.12 Crore) operating in Consumer Durables sector.

The biggest cut was seen in the most FPI-heavy stock HDFC, which saw a 295 basis points drop in FPI stake sequentially to 69.19 per cent. The investor class has cut its stake by 359 basis points in the HDFC group firm in the last four quarters.

As of 31-Mar-2022, promoters held 74.36 per cent stake in the company, while FIIs held 15.39 per cent and domestic institutional investors had 3.05 per cent.

ICICI Securities said it expects SBI to deliver over 13 per cent core RoE aided by growth build-up, contained credit cost and steady margin profile.