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“If you look at the valuation of India, price to earnings or price to book terms is trading possibly at about 10% premium to its long-term average and still slightly lower than one standard deviation. So,it is expensive but not egregiously so compared to its own history. But compared to Asia ex Japan, the valuation premium of India looks relatively egregious.”

The majority of the analysts remain positive on the counter in the longer run suggesting investors to stay put as they see more steam left in the shares. However, a few suggested booking profits after the listing pop.

Short-term traders who missed the rally can look to buy the stock now or on dips for a possible target above Rs 500 in the next 3-4 weeks, suggest experts.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 266262.45 Crore).

HDFC Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

“Coming back to the new age tech story, it is a pretty long play. Near term, the challenges will remain. If we are looking at one or two quarters, then things look a little difficult. But if you look at a three-four year story, then it is a unique listed player, one we can look at and if we have a deep pockets, allocate it. We should look at Zomato for a four-five year play from here.”

The Nifty Auto index was trading 0.17 per cent down at 12753.75.

In its regulatory filing, IEX said, “We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on Friday, November 25, 2022, inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the company.”

"Volatility was always there. It’s just that the size of the market has grown big. When you don’t have money, there is a fear building everyday. But as you become big, you can take on a lot of adversity on your side. India has passed through the poverty phase. Now we are in the prosperity phase. India is not a pushover. "

"We think a lot of Indian companies now have the size, and balance sheet, and have been doing a lot of work in improving their product mix towards more specialised products. We have been selective in choosing businesses we invest in and have tried to avoid businesses with a lot of cyclicality and are focussing on companies where speciality chemicals’ share has been increasing."