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“The margins for us is not an issue because edible oils typically are a pass through sort of process and so in the short term, for next quarter, we do not anticipate any challenge because we are adequately covered with the imports and supply chain has been established. The question is how does it run going forward?”

Nirmal Bang maintains a Buy rating on Indian Hotels (IHCL), Chalet Hotels and EIH with target prices of Rs 335, Rs 378 and Rs 192, respectively.

A total of 39,357 shares changed hands on the counter till 12:58PM (IST)

Following the update, shares of Britannia Industries tumbled about 6 per cent to Rs 3,150, before paring up half of the losses during the session.

The shares will be listed on the NSE SME Emerge platform post allotment. The issue is lead managed by Fedex Securities, and Bigshare Services is the registrar of the issue.

Bharti Airtel Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 431879.29 Crore) operating in Telecommunications sector.

Promoters held 74.99 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 8.83 per cent and 6.25 per cent, respectively.

The current management is working tirelessly to restore REL to its rightful position as a leading player in the BFSI domain and closing these legacy issues remains a top priority as the company embarks on a new journey with new businesses and fresh funding on the horizon, it said.

“Near term overall market outlook seems to be a bit risky given what is happening globally and people are just starting to recognise the threat of inflation and the impact of monetary policy on stock valuations. It will be tough for index stocks like ICICI Bank to stand alone and up when the overall market is down. But on any deep correction, ICICI Bank will be the best bet in banking.”

Among Sensex stocks, Tata Steel, Tech Mahindra, HUL, Wipro and IndusInd Bank were the top losers, shedding between 2-3 per cent. Other IT biggies like Infosys, TCS and HCL Tech also fared among laggards, down over 1 per cent each.