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As the shares acquired through the secondary market were locked in for a period of six months under the rules, the company instead issued fresh shares in FY 2015-16 against options that were exercised by employees.

However, the rules were not very clear until the Central Board of Direct Taxes (CBDT) issued clarifications on various issues as the Finance Act 2022 inserted a new section 194S in the Act from the coming month.

"All the engines are firing for Reliance Industries within oil and gas and overall. This is our top pick with a target price of Rs 3,050. Overall blended earnings are expected to grow in excess of 21% on the top line and 23% on the bottom line. They could be easily beating the overall Nifty growth for the next two years."

On the technical charts, the RSI of the stock stood at 47.43.

Promoters held 54.9 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 19.9 per cent and 10.68 per cent, respectively.

The stock is Radhika Jeweltech, a gem and jewellery player, which has zoomed as much as 1,250 per cent in a little over a year. However, it has dropped about 20 per cent from its 52-week high amid ongoing correction. Shares of Radhika Jeweltech surged 1,240 per cent from Rs 15 in April 2021 to scale its new lifetime peak of Rs 201 on May 20, 2022. That said, the stock is currently trading near Rs 165.

The Public Enterprises Selection Board (PESB) selected Gupta, 56, for the post of chairman and managing director of GAIL after interviewing 10 candidates, it said in a post-interview notice. He will replace Manoj Jain, who is scheduled to retire on August 31.

“India is going to be the immediate beneficiary of any come down in inflation and probably any kind of resolution to the geopolitical conflict. From that standpoint, there is a fair bit to look forward to as well. We do not really see a situation like we are going to fall off a cliff in terms of earnings delivery.”

"The meme token started to fall on Tuesday with an increase in the bearish sentiment in the market. Further, an announcement by Crypto.com that it is removing DOGE also put pressure on the coin," he added.

The stock quoted a 52-week high price of Rs 724.5 and a 52-week low of Rs 430.0.