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“We are more positive on the B2B themes rather than the B2C themes. We are also looking at more value focussed plays which we think will outperform. Overall commodity as a space will continue to do well. Metals, mining are areas which will do well. Even agri commodities will do well.”

On the technical charts, the RSI of the stock stood at 43.03.

Mobikwik had reported a net profit of Rs 7 crore in the third quarter of 2021-22, after losing money in the first and second quarters.

A total of 5,651 shares changed hands on the counter till 01:39PM (IST).

Companies on the SEC list led the slump on Friday. Yum China Holdings, Zai Lab, HUTCHMED (China) Ltd and Beigene Ltd fell between 10% and 16%. In Shanghai, shares of ACM Research Shanghai Inc were down 10%.

“India is an oil importing country and it is not just the direct oil and commodity companies but thousands of other items like tyres and cement and coal and coke, even baby diapers and lipsticks are also impacted. There will be an earnings downgrade for India at the Nifty level of about 10-15% and individual stocks and earnings will fall far more. ”

JM Financial said AU SFB trades at premium valuations of 4.2 times FY23 and 3.5 times FY24 book value per share (BVPS), which adequately captures the positives - superior return profile and a long runway to growth. The brokerage has a hold rating on the stock with a target of Rs 1,400, valued at 4.3 times FY24 BVPS.

The stock quoted a 52-week high of Rs 701.75 and a 52-week low of Rs 469.75.

That prodded Didi to say it would begin the process of delisting from the New York stock exchange just months after its initial public offering and instead look to Hong Kong.

As of 31-Dec-2021, promoters held 48.05 per cent stake in the company, while FIIs held 28.12 per cent and domestic institutional investors had 11.33 per cent.