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The stock traded at a P/E multiple of 32.79, while the price-to-book value ratio stood at 6.93.

The United States financial regulators have stepped up pressure against cryptocurrency companies, with the Securities and Exchange Commission (SEC) charging Binance and Coinbase for selling unregistered securities and failing to register as brokers. Crypto defenders argue that regulations do not fit the likes of Bitcoin or Ethereum and cause uncertainty and confusion. Crypto companies have been caught between "a turf war" as they wish for clear regulation, but political gridlock has stalled any progress. The clampdown could lead to crypto-based companies having to move to more receptive jurisdictions. In March, the White House called cryptocurrencies "too risky" and not an effective alternative to fiat currency.

This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased.​

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Nine stocks including Indiabulls Housing Finance, IEX, and BHEL are under the F&O ban for trade on Friday, with Tata Chemicals and L&TFH being the latest to enter the list. The ban on these stocks is due to their open interest crossing the market-wide positions limit. They can still be traded in the cash market. The Sensex and Nifty50 both closed with declines on Thursday, ending a three-session gaining streak. Analysts say the bullish sentiments could be dampened if there is any further sell-off.

In the recent rally (from the bottom) of March 2023 till date, the major contributors were automobile and banking counters, and considering the technical setup, there is still some steam left for a further upside which also confirms our bullishness in these sectors.

Which way markets would move in the short run is very hard to predict. Even though the India story is looking very promising, there are a host of other factors that can influence the markets in the short run, the most prominent of which is the inflation scenario in the developed world.

From the Sensex pack, ICICI Bank, Tata Steel, Titan, UltraTech Cement, Reliance, and Nestle opened with gains, while TCS, Bharti Airtel, Power Grid, Wipro, NTPC and L&T opened with losses.

The Indian rupee rose above the crucial 82 per dollar mark on Friday morning, tracking gains in most other Asian currencies, as fresh U.S. data indicated the Federal Reserve may not be as hawkish as was indicated in its policy statement earlier this week.

Tech Mahindra, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 105295.60 Crore) operating in IT Software sector.