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“The cyclicals are better positioned, better valued and there can be better returns over there. But we do not look at it in absolute black and white terms. There are some secular themes and digitisation energy transition that is happening and there’s the China plus one theme as well. ”

​​ The company had reported a consolidated net profit of Rs 41 crore in the quarter ended on December 31, 2020, a BSE filing stated.

The government has smartly sidestepped on the legality of cryptocurrencies while showing its disinclination to support these, by levying a huge tax burden on those making money from such virtual digital assets, as the Finance Bill has tried to define it.

“We are recommending that one should be overweight in the domestic cyclical sectors. We like banks and autos. From a medium to long term perspective returns on the capital goods stocks also would be good. ”

A total of 8,586 shares changed hands on the counter till 01:39PM (IST).

As of 31-Dec-2021, promoters held 66.33 per cent stake in the company, while FIIs held 20.8 per cent and domestic institutional investors had 0.14 per cent.

"Investors realised that they were too risk sensitive and bought back stocks that were oversold," said Ikuo Mitsui, fund manager at Aizawa Securities.

The stock quoted a 52-week high of Rs 512.05 and a 52-week low of Rs 350.35.

The slower pace of retracement applies not only to the benchmark indices but the broader market indices too, and the phenomenon offers an incremental buying opportunity, ICICI Securities said.

Budget 2022 proposals continue to further incentivise business and investments in GIFT, taking it a step closer to becoming a destination that global investors can no longer afford to ignore.