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A total of 10,986 shares changed hands on the counter till 10:20AM (IST).

The stock quoted a 52-week high of Rs 1258.75 and a 52-week low of Rs 583.05.

The COAI represents India’s top telcos, Reliance Jio, Bharti Airtel and Vodafone Idea (Vi). The telcos’ stand directly in conflict with the position of the biggest tech companies like Tata Consultancy Services (TCS) and Tata Communications who want the government to directly allocate 5G spectrum to private enterprises, as recommended by the sector regulator.

Biden has also reappointed Jerome Powell to a second four-year term as Fed chair and elevated Lael Brainard to the position of vice chair.

Stocks which were in focus include names like MRPL which rose nearly 9 per cent, ICICI Lombard fell over 4 per cent, and GMM Pfaudler was down by nearly 2 per cent on Wednesday.

The Wall Street watchdog plans to scrutinize growth in recent years of the payment for order flow (PFOF) practice, which is banned in Canada, the UK and Australia.

SEC Chair Gary Gensler said investors might get better prices without PFOF if there was more competition to execute retail orders. He suggested sending orders to auctions, to improve deals for retail investors.

"The uncertainty in the market is likely to continue for a few months. We don’t see any major threats. Rather, there could be upside surprises since all the above factors are already known to the markets. We think the next 3-6 months is a great opportunity to deploy capital from a long-term perspective, both in Indian and global markets."

“The projected GDP growth rate is 7.2%, less than what global agencies are predicting at 7.5%. Similarly, inflation is beyond the stated range that RBI has projected. Add to that,in the first eight days of June, monsoon rain seems to be below normal and the rains have not progressed as much as they were expected to. These are the sudden worries which have come over the market.”

"At present, cloud kitchen and kitchen in kitchen model accounts for 30%. We are primarily a dine-in restaurant company as can be seen from the contribution of around 70% from the same. It was during the pandemic period when the focus shifted to delivery business which has become the new normal. We are continuing with the expansion of this vertical and expect the share to contribute on the same level in the next 2-3 years as witnessed currently.