“Valuations are key right now,” Belinda Boa, head of active investments for Asia Pacific at the world’s biggest asset manager, said at a briefing. “Because of the outperformance we’ve seen in India this year, on a relative basis, we are starting to take profits” and becoming more positive on Chinese growth stocks, she said.

“From here onwards, the profit and the cash flow trajectory of some of these growth companies is going to be extremely important. That is where one needs to be careful. If one is in a high PE, high growth company, one has to be very sure about the earnings growth trajectory. If the earnings are growing, everything’s fine, says Hiren Ved.”

On the technical charts, the RSI of the stock stood at 39.65.

A total of 26,133 shares changed hands on the counter till 02:12PM (IST)

Given the digital nativity of these currencies, lack of transparency about trades and traders, and the global ubiquity of the crypto platforms, an unregulated crypto could be a big systemic challenge.

The stock traded at a P/E multiple of 80.87, while the price-to-book value ratio stood at 5.13.

Promoters held 0.0 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 41.47 per cent and 30.77 per cent, respectively.

Half of the $1 billion sum would be converted to bitcoin and the other half used for infrastructure and bitcoin mining.

The S&P/ASX 200 rose 0.78% to close at 7,410.6, marking its best session since Nov. 12, after a 0.59% fall in the previous session.

The blue-chip CSI300 index was flat at 4,913.35, while the Shanghai Composite Index gained 0.2% to 3,589.09 points.