The rupee strengthened by 13 paise to 95.65 against the US dollar in early trade on Tuesday, supported by easing crude oil prices and positive domestic market sentiment despite continued foreign fund outflows.
An analysis of the cost of acquisition of shares owned by pre-IPO and ex-Blinkit shareholders of Zomato suggests they are currently sitting on substantial gains on their investments, a large chunk of which is, however, unrealised.
According to FPI statistics available with depositories, overseas investors pumped in a net of Rs 19,473 crore into equities but pulled out Rs 4,824 crore from the debt segment between January 1 and January 29.
Jaideep Hansraj, MD and CEO of Kotak Securities said broking and distribution business has become more of a technology play and this has gained further prominence in the new normal.
