The stock price has corrected around 28% from its 52-week high, while the stock prices of other mid-tier companies have corrected by 10-20% from their respective 52-week peak.

Maruti’s counter fell to a low of Rs 7,440.20 as against Rs 7,556.95 at previous close on the National Stock Exchange.

The Nifty Auto index was trading 0.25 per cent down at 10385.85.

“Cloud gaming as well as the metaverse with the use of hologram is not possible with 4G connectivity because it needs much higher speed and lower latency. These are the use cases, where we will see immersive entertainment, AR, VR kind of entertainment. These will be the B2C use cases.”

CIL is in acomfortable position to meet India’s growing demand, as number of CIL projects are in the development stage and likely to start deliveringin the next two-to-three years.

A total of 344 shares changed hands on the counter till 10:50AM (IST)

As of 31-Dec-2021, promoters held 38.4 per cent stake in the company, while FIIs held 36.37 per cent and domestic institutional investors had 11.04 per cent.

The stock quoted a 52-week high price of Rs 417.35 and a 52-week low of Rs 209.8.

Cup and Handle chart pattern and breakout from resistance zone is very likely in the coming horizon.

“The next three, six months seem to be good as a cycle for the metal stocks but as a pure fundamental long-term investor, there are better sectors to invest in. We have banks which probably are going to be the proxy play. The capex play in capital goods is going to do well for the next three-five years. A lot of building material businesses, pharma, FMCG, healthcare will make a comeback.”