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"We are relatively better placed. We are not a closed economy. We are part of the globalised world. So, we will be impacted (by global developments)," the finance minister said on the sidelines of an event here.

“Given Zomato’s sudden desperation to go out and buy the remaining stake in Blinkit and giving away about Rs 6,000 crore is something that the market would not be able to fathom and anyway the risk appetite is clearly missing for people to go in for very fancy business models, no profitability and even the cash getting burned out like this. It will definitely hurt the sentiment.”

The Nikkei share average fell steadily throughout the day and lost 1.54% by the end of trading. The broader Topix index was down 1.20% on the day.The Japanese yen rebounded slightly to trade at 136.17 to the U.S. dollar after hitting a new 24-year low overnight, breaching the key 137 mark.

As of 31-Mar-2022, promoters held 0.0 per cent stake in the company, while FIIs held 38.0 per cent and domestic institutional investors had 32.08 per cent.

“Central bankers all over the world are prioritising inflation over growth. They are resigned about growth concerns completely but in the next four to five months, our belief is that ex of crude, inflation will start trending down and probably the second half, growth concerns will take over, ” says Pankaj Tibrewal.

The STOXX 600 fell for a second straight day after global central bank chiefs said bringing down high inflation around the world will be painful and could even crash growth.Economy-linked sectors led declines in early trading, with basic resources and automobiles down between 1.9% and 2.1%.

Kajaria Ceramics Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 14900.70 Crore) operating in Building Materials sector.

The stock of the food delivery giant has slumped about 25 per cent since Monday after the company acquired the quick commerce delivery firm Blinkit for Rs 4,447.5 crore in an all-stock deal. Currently, shares of Zomato are 28 per cent below the issue price of Rs 76, whereas the counter has taken a big hit of 67 per cent from its 52-week high of Rs 169.10 hit in November 2021.

“ It has not been a protracted two-year bear market in India that we had in the US. We will be back into a recovering market as we finish the third quarter and there is a good chance that indices may end up finishing the year closer to flat rather than down significantly as they are at the moment.”

As of 31-Mar-2022, promoters held 48.76 per cent stake in the company, while FIIs held 20.83 per cent and domestic institutional investors had 10.09 per cent.