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As of 30-Jun-2023, promoters held 50.53 per cent stake in the company, while FIIs held 20.03 per cent and domestic institutional investors had 7.29 per cent.

"We expect the overall positive momentum to continue especially in the large cap while sectoral rotation is likely to be seen in the broader market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

The Relative Strength Index of the stock stood at 56.89 on Monday.

Secondly, a lot of times we keep getting carried away because 20,000 is a new level and a big milestone, that market is at a new high, market is at a new high. We have never seen headlines which says corporate profits are at a new high.

“When decadal trends start changing, it does not end in a year. It actually gets elongated. The whole PSU basket is not just banks, it is also defence stocks, infra-type plays. So, going with the trend, being humble, accepting what the market is telling you, is what I have learnt.”

The stock quoted a 52-week high of Rs 1974.95 and a 52-week low of Rs 1147.05.

Do not look at us one quarter from the next because the order book is such that the revenues might be lumpy and if you look at our fiscal performance, EBITDA margins have been around 40% plus and PAT margins have been 30% plus. I would say strong financial performance but yes, not something to look at quarter-on-quarter but year-to-date year on year.”

“I believe this quarter is the sickness season. As we come into Jan-Feb-March, we move into the wellness side. But I am definitely seeing a big pickup in fever and related testing for the sector as well. But the primary headline is on the price front. I am definitely seeing an easing off of price competition.”

The price action in the stock was accompanied by significant volume action as more than 24.93 crore shares changed hands on the NSE around 11 a.m. The stock fell after hitting its 52-week high of Rs 12.50.

On the technical charts, the RSI of the stock stood at 53.44.