Navin Fluorine International Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 18740.75 Crore) operating in Chemicals sector.

The revenue from sales for the period came in at Rs 7,889.94 crore, up 20.60 per cent from Rs 6,541.94 crore that it reported in the corresponding quarter last year.

Technology stocks are down significantly in most countries. Some names in the US have dropped as much as 90 per cent. Many of the recently listed companies in India are also trading below their issue prices. They include names like AGS Transact, Paytm, PolicyBazaar, Fino Payments, CarTrade, Zomato, among others.

But the fall in Nifty500 at 8 per cent in 2022 has been pretty comforting, compared with a 16 per cent drop in the S&P500 index during the same period.

“From a bounce back perspective, IT could very well be a surprise. This sector was the first one to get weak and was under bear control. It broke its 200-day moving average earlier than the broader market. Infosys can be bought with a Rs 1,500 as a stop loss. As of now, IT can do well and this bounce back should take us slightly higher both on the Nifty as well as on the Bank Nifty.”

Jhunjhunwala upped his stake in the bank in March quarter to 1.96 per cent from 1.6 per cent in December quarter.

As of 31-Mar-2022, promoters held 43.49 per cent stake in the company, while FIIs held 35.03 per cent and domestic institutional investors had 2.18 per cent.

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A total of 18,541 shares changed hands on the counter till 01:39PM (IST).