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With over 18 years of experience, Bafna has built a sustainable marketplace revenue model in e-commerce companies such as Myntra and Flipkart as well as led the finance workstreams at IT services major Wipro.

On the technical charts, the RSI of the stock stood at 37.31.

Listed auto major Tata Motors will be hiking the prices of its commercial vehicles from July 1, 2022, the company said in a stock exchange filing on Tuesday.

“The promoters are not participating in the buyback. Given the conditions which we were facing and the way we wanted to present it, from our perspective, the open market buyback option was a simpler one to execute. We have already announced our dividend policy a while back. Come April next year, the board will review the cash positions, the investment requirements, the business environment at that time and declare the dividends.”

The stock with a market capitalisation of more than Rs 63,000 crore hit a 52-week high of Rs 1241 on 28 October 2021 but failed to hold on to the momentum. It closed at Rs 806 on 24 June 2022 which translates into a downside of over 35 per cent.

Edelweiss said Medplus’s sheer scale and value proposition puts it way ahead in the league. "Its integrated supply chain, aggressive store expansion plan, increasing private label share and the potential peak of the discounting cycle should hold it in good stead," it said.

Evidence from every market cycle shows that the market does not wait for the economy to recover, it does not even need to ascertain when or how low could the bottom be for the real economy with any degree of precision.

A total of 77,641 shares changed hands on the counter till 01:30PM (IST).

“When we look at the health parameters, the fiscal and inflation numbers, the trajectory of the economy– in all those cases, India’s position is looking far better and therefore one can expect that unlike in the US, in India’s case, there’s more need to get a haircut rather than something structural.”

On the technical charts, the RSI of the stock stood at 51.01.