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“As North Asia starts to look a little bit better, you might see a little bit of a pause in inflows coming to India as far as foreign investors are concerned. This is a very short term phenomena. Medium term, in one or two years, the macroeconomic opportunity in India is very compelling and that keeps me very excited about the prospect of India outperforming other opportunities elsewhere in the world.”

JK Cement Ltd., incorporated in the year 1994, is a Mid Cap company (having a market cap of Rs 23450.91 Crore) operating in Cement sector.

Following the announcement, shares of Vikas Lifecare zoomed as much as 6% to Rs 5.05 on Monday, before giving up some gains. The scrip had settled at Rs 4.78 on Friday.The company board determined and approved the issuance of equity shares at a price of Rs 4.65 apiece, which is at a 5% discount to the floor price of Rs 4.88 set by the company.

Brent crude dropped $2.43, or 2.9%, to trade at $81.20 a barrel at 0731 GMT, after diving more than 3% to $80.61 earlier in the session - its lowest since Jan. 4.U.S. West Texas Intermediate (WTI) crude slid $2.16, or 2.8%, to $74.12 a barrel. It fell as far as $73.60 earlier, its lowest since Dec. 22, 2021.

On the technical charts, the RSI of the stock stood at 50.03.

As of 30-Sep-2022, promoters held 63.22 per cent stake in the company, while FIIs held 24.03 per cent and domestic institutional investors had 3.78 per cent.

The company is selling its shares in the range of Rs 216-237 apiece between November 28-30, with a lot size of 60 equity shares. The issue comprises fresh equity shares worth Rs 216 and an offer-for-sale (OFS) of Rs 35.15 crore.

After hitting a 52-week low of 15,183.40 on June 17, Nifty has rallied over 22% in a few months. Excluding Adani Enterprises, which became part of the headline index on September 30 this year, ITC has been the top gainer in the pack of 50 stocks since the last record high.

The stock traded at a P/E multiple of 51.07, while the price-to-book value ratio stood at 19.41.

A total of 9,320 shares changed hands on the counter till 02:10PM (IST).