As of 31-Dec-2021, promoters held 50.05 per cent stake in the company, while FIIs held 13.76 per cent and domestic institutional investors had 8.85 per cent.

"Some of the stocks that probably will stand to gain a lot from a largecap perspective will include companies like Reliance Industries which have been taking significant steps on the new energy side. We have seen the string of acquisitions that they have done over the last six to eight months. Clearly that is one company which is to be watched out for in the new energy side."

India splurged a record $55.7 billion on gold imports in 2021, buying 1,050 tonnes - the most in a decade, and far more than the 430 tonnes imported in 2020.

The Nikkei 225 index rose 3.46 percent or 890.88 points to close at 26,652.89, while the broader Topix index added 2.47 percent or 45.76 points to 1,899.01.

On the technical charts, the 200-day moving average of the stock stood at Rs 1459.62.

“Today’s markets rally and the ferocious rally that we have had in the last two, three days would still happen in a bad environment because it is about positioning. But I would still bet that this boom cycle in the economy and stock markets perhaps have already ended and we are staring at sharply slower growth not just in the US and world but also in India over the next six to 12 months, with the risk of double dip and a significant risk that asset markets continue to underperform for the next six to 12 months. ”

A total of 16,563 shares changed hands on the counter till 01:39PM (IST).

Even though the correction in Nifty by 15 per cent from the peak had cooled valuations a bit, the recent recovery has again pushed the valuations up. Therefore, investors should prefer value to growth in these times of uncertainty. Preference for value over growth is a global trend now.

When the country’s central bank boasts of $632 billion worth of FX reserves, speculating against the currency is fraught with risk.

Consumer stocks in India enjoy a significant premium given the growth runway and this should likely continue for Nykaa although the question remains on the fair valuation multiple, the brokerage said.