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Promoters held 41.94 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 39.77 per cent and 9.54 per cent, respectively.

A total of 69,697 shares changed hands on the counter till 02:04PM (IST)

The brokerage believes PSYS is well-positioned to continue driving industry-leading growth and surprise the Street on its growth trajectory.

IIFL said that the company is looking to cut the debt to $5 billion, within three years, largely via up-streaming of cash from Vedanta. It noted that Vedanta can pay nearly $2 billion dividend annually, including pass-through of Hindustan Zinc dividend receipts within six months, as a policy.

Analysts at the brokerage house believe that the stock is perfectly priced now. They have a ‘neutral’ rating with base case March 2023 target price at Rs 367 on the stock, which is nearly 6 per cent below the last closing price.

Maruti has multiple new models lined up for launch in the coming 12-18 months. If these are successful and helpthe company gain share, there would be upside to our vol. assumptions.

The pan-European STOXX 600 edged up 0.2% after a lacklustre start to the week. The European oil & gas sector index gained 0.8%, while banks rose 1.1%.

“In the last decade, financials and consumer stocks led the bull market. It is very different this time. We are seeing that leadership move to commodities and the IT companies. So, where everybody is focussing may not be the place to focus. One needs to change the way to look at these companies and start looking at some of the old economy and the metals and the oil companies.”

Promoters held 50.05 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 13.76 per cent and 8.85 per cent, respectively.

As per the latest order, Zee Entertainment Enterprises can approach the Supreme Court against the High Court order within three weeks. If the company fails to do so, the Mumbai bench of NCLT can resume the hearing in the matter.