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The shareholders have approved "equity capital raising plan of the bank during the financial year FY23 through issue of up to 100,00,00,000 equity shares of Rs 10 each by way of various capital raising options at an appropriate time and premium," the bank said.

"The 16,000-16,275 range is a tight consolidation range. The index is now approaching the lower end of the consolidation range i.e. 16,000 that needs to be monitored closely on a closing basis. A breach of 16,000 on a closing basis will drag the index into a short-term correction mode,"

“IT could face growth headwinds over the next year or so. Purely from a stock market perspective, rotation will happen into financials from IT, where probably financials and banks should lead the next round of recovery or rally in the markets as and when that rally begins. So probably, we are in the middle of one.”

The Nifty Realty index was trading 0.25 per cent down at 416.0.

Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.19 per cent and 17.5 per cent, respectively.

Jain is Executive Director and Chief Investment Officer at HDFC AMC.Data showed the mutual fund house bought a 0.02 per cent stake or 1,97,807 shares in Shriram City Union Finance worth Rs 32.85 crore. It added Sanofi, buying 8,365 shares worth Rs 5.38 crore. It also entered Metropolis Healthcare with 3,600 shares worth Rs 50 lakhs.

“The important thing is to look at good earnings growth, good corporate governance and good ROEs. There is runway for growth for the next three to five years. CY22 is the year to buy to make a high quality portfolio which can have a good mix of large, mid and smallcap names and 2023 onwards will be the year when we start reaping the benefits out of that.”

Silver, however, declined by Rs 648 to Rs 56,120 per kg from Rs 56,768 per kg in the previous trade.In the international market, both gold and silver were trading flat at USD 1,734 per ounce and USD 18.90 per ounce, respectively.

"In 2023 expectations for healthy global economic growth amidst improvements in geopolitical developments, combined with expected improvements in the containment of COVID-19 in China, are expected to boost consumption of oil," OPEC said in the report.