The stock traded at a P/E multiple of 26.95, while the price-to-book value ratio stood at 1.93.

Declines in financial and technology stocks countered gains in basic and defensive sectors, leaving the pan-European STOXX 600 index 0.2% lower.

Housing Development Finance Corporation (HDFC) said the shares were sold on the secondary market through stock exchanges. HDFC said the shares have been sold between July 9, 2021 and March 24, 2022 (including these dates). The sale crossed the 2 per cent threshold on a cumulative basis, on March 24, 2022.

Blinkit Co-founder & CEO keeps silent on merger with Zomoto, says the company is just just executing its game plan and building up the business. They have the financial support to be able to build up the business and are very confident that they will make this business profitable as well.

As of 2.30 pm, the issue was subscribed close to 24 per cent, with total applications coming in for 1,19,79,975 shares against 4,89,46,260 on offer.

On capital, management does not see the need for any capital raise in the next two years, as once the profitability normalizes, the required solvency margin will move to premium from claim.

"With the certainty of the merger being higher given Invesco’s support and recovery in the ad market, the stock can potentially see a re-rating in its valuation. We value ZEE at 25 times FY24 EPS and maintain our Buy rating," Motilal Oswal Securities said while suggesting a target of Rs 410 on the stock.

The brokerage forecasts Rev/ EBITDA/PAT CAGR of 33%/29%/31% over FY22-24E.

SJS has the most comprehensive product portfolio and superior profitability among its peers is well placed to benefit from industry tailwinds.

As of 31-Dec-2021, promoters held 51.5 per cent stake in the company, while FIIs held 7.94 per cent and domestic institutional investors had 3.38 per cent.