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"Rupee has been oscillating between 76 and 76.50 for the last six trading sessions. Even after a stronger dollar index, the rupee manages to add gains amid lower crude oil prices, higher equities and corporates dollar selling" Dilip Parmar, Research Analyst, HDFC Securities, said.

Since it would be profitable to sell Ruchi Soya stocks in hand at a higher price and apply for the same at a lower price in the FPO, apparently investors did exactly that. And, they are likely to reap a handsome profit as well.

“We expect the 17-18% growth number to come down. We need to watch how much it will come down. Will it come down to 10% or 12% or 5%? It is difficult to say at this point of time because there are also counter balancing factors in terms of commodities helping certain profit estimates. We have to see whether that 17-18% growth can come down to 10-12% or more.”

​​The index moved above its 50-day and 200-day moving averages as it ended up forming a bullish candle on the daily chart, with a long lower wick, suggesting buying interest at low.

Emami has historically used an inorganic route to growth including the acquisition of Zandu (2009), Kesh King (2015) and German brand Creme 21 (2019). These brands or businesses have over the years emerged as major brands for the company.

The largest IPO in FY22 was from One 97 Communications (Paytm) for Rs 18,300 crore. It was also the largest Indian IPO ever, which will soon be eclipsed by the issue of Life Insurance Corporation of India.

“We have been passing on higher input costs successfully to OEMs and we will continue to do so because nobody can take the kind of growth or the kind of value change that has happened on the raw material side. We will definitely work together with the car marker and the collaborator to find ways and means by which we can deliver more value to the OEMs.”

According to the Draft Red Herring Prospectus (DRHP), OFS comprises offloading of up to Rs 120 crore worth shares by Wajid Ahmed and shares valued at Rs 49 crore each by Gulzar Ahmad, Mohd Mehmood Qureshi, Mohd Ashraf Qureshi and Zulfiqar Ahmad Quraishi. Besides, shares worth Rs 14 crore will be sold by Parvez Alam.

This year, the incremental (not total) EBITDA that Vedanta will generate from the change in aluminium prices (assuming spot prices for full-year) will be higher than the total EBITDA of two of the largest consumer-facing businesses (Hindustan Unilever and Asian Paints).

It is this abundant liquidity, much of which has found its way into the stock market amid dwindling returns from fixed-income instruments, which has equipped the stock market to tackle the largest overseas outflows since the Global Financial Crisis of 2008.