“There are some stock picking opportunities within the large automobile and auto ancillary space and in the financials universe.”

“For Reliance to suddenly come out and say that the JioPhone Next is not being launched because of chip shortage, sounds very intriguing to me. The last Rs 200 move has been because of the excitement around that.”

The stock has delivered a whopping 2,700 per cent return since hitting its lifetime low in May last year. Such has been the demand for the scrip that in the past 37 sessions, the stock hit the 5 per cent upper circuit in all but one session. Consequently, it has nearly tripled in the past month.

"I see absolutely no reason why we will not be adding more regions. See, now the world is the audience for anyone. It is no longer a domestic-alone revenue game. You go picking up new orders across the world and move alongside your OEMs. Wherever they are present, you also are."

Brevan, more famous for its bets on macroeconomic trends, has been among the most high-profile of major funds moving into the fledgling world of crypto trading, known for its highly volatile markets and scope for outsize gains.

The stock traded at a P/E multiple of 31.9, while the price-to-book value ratio stood at 1.58.

The Vedanta Group company reported a 10 per cent rise in income from operations at Rs 2,933.85 crore for FY2020-21, against Rs 2,675.42 crore a year ago.

A total of 21,708 shares changed hands on the counter till 02:12PM (IST).

Jio has delayed the launch of its ultra-low-cost smartphone it is developing with Google, to Diwali, possibly due to semiconductor shortages that the industry is facing.

On the technical charts, the RSI of the stock stood at 50.36.