A total of 160,565 shares changed hands on the counter till 02:10PM (IST)

“We have added some of the export-based companies like SRF. Second is Jubilant Ingrevia. The company is changing its profile and becoming more high margin business. It trades at about 11 times, earnings growth will be north of 20 times. Second, again in the auto pack, we have added Hero MotoCorp and TVS Motors as well as Tata Motors.”

Annapurna will use the funds to grow its loan book, invest in technology and expand geographically, the company said on Friday.With a pan India rural distribution network and a multi-product strategy, it offers micro-credit loans, home improvement, and MSME loans to individuals and small businesses.ET had highlighted in its report on June 15 that Annapurna was preparing to raise equity.

Promoters held 54.8 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 23.54 per cent and 12.8 per cent, respectively.

“Investors’ confidence is far higher than fund managers’ confidence. Normally in a market like this, we will go and tell investors not to worry and keep faith on the long term India growth story. Now investors are passing us this message, markets are volatile but overall we will be fine.”

The stock first hit its first support just below the 200-DMA in February 2022, but the bounce back failed to sustain momentum and the rally fizzled out in April 2022 after hitting a high of Rs 497 on the BSE.

Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 80185.70 Crore) operating in FMCG sector.

"The domestic IT sector had seen a strong run in 2020 and 2021 and some reversal was likely given the valuation. Further, domestic IT sector witnessed margin contraction and high attrition. The selling was accentuated by the large drawdown in Nasdaq – tech-heavy index. The sector after almost 30% in CYTD may find some plateauing and offers a strong opportunity to investors."

A total of 176,507 shares changed hands on the counter till 01:19PM (IST)

The stock quoted a 52-week high price of Rs 5930.7 and a 52-week low of Rs 3144.7.