A total of 2,506 shares changed hands on the counter till 01:01PM (IST).

"Products that came before Ola S1 had compromises in terms of range, the pricing was not right, they did not have digital features. Indian consumers are very value conscious. More than cost conscious, they are actually value conscious. They did not feel it was a right product for them."

In the spot market, highest purity gold was sold at Rs 46,657 per 10 gram while silver was priced at Rs 62,258 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.

The Nifty Bank index was trading 0.84 per cent up at 37985.25.

Abhay Bhutada resigned from the non-banking finance company (NBFC) a day after the Securities and Exchange Board of India (Sebi) barred him from dealing in securities for allegedly using price sensitive information in trading in the shares of Magma Fincorp before it was acquired by the Poonawalla Group.

Exchanges that have not registered must shut down services after Sept. 24, while those that have registered but failed to secure partnerships with banks will be prohibited from trading in won.

On the technical charts, the RSI of the stock stood at 75.69.

A total of 34,248 shares changed hands on the counter till 11:27AM (IST).

Beta Drugs is a pharmaceutical company specialising in branded generics in niche oncology therapy. The company is listed on National Stock Exchange’s Emerge platform for small and medium-scale enterprises.

“Indian market completely delinked from global market. On a pure size and ratio also, the market is trading at 27-28 times. ”