Ajay Bijli, Chairman, PVR says, “We were in the rescue phase earlier; we are in the revival phase now, and then comes the reimagination phase, where we will definitely look for the diversification.”  

On Monday, concerns over the weakening rupee, global interest rate hikes, and tightening lockdowns in China forced the markets to take a downward trend. Sensex closed down by 364.91 points or 0.67 per cent at 54,470.67 while Nifty settled 109.40 points or 0.67 per cent lower at the 16,301.90 level. 

On Monday, the benchmark indices remained in the negative region. The barometers fell further for the second day in a row. During the day, metal and FMCG were among the major losers. Dow Jones index futures in the United States were down by 398 points, implying a bad start to the day for US stocks. On Monday, the European markets fell along with most Asian markets as investors worried about the country's chronically high inflation rate. 

BSE Smallcap index significantly underperformed broader markets by sinking 1.67 per cent to close the session at 26,641.21.

On such a volatile day, Nifty closed lower by 0.67 per cent at the 16,301.85 level. Sensex tanked about 364 points while Nifty Midcap and Nifty Smallcap closed lower by 1.78 per cent & 2.52 per cent, respectively.    

Out of the net proceeds, Venus intends to use around Rs 108 crore to fund ongoing capacity expansion and Rs 25 crore for working capital requirement and general corporate purposes.

Axis Mutual Fund, the seventh-largest AMC in terms of assets under management (AUM), banned two fund managers for front running. Continue reading to learn more.

Equitas Holdings Ltd, HCL Technologies Ltd and HIL Ltd are today’s mid-day movers.

Delhivery is a fast-growing logistic solutions provider company primarily engaged with e-commerce players. 

The market opened on a negative note thereby, reflecting the worldwide market weakness caused due to the selling pressure from foreign institutional investors (FIIs), who were concerned about growing inflation and interest rate hikes. Tech Mahindra, Reliance, JSW Steel, Tata Steel, and Induslnd Bank are among the worst performers.