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Promoters held 75 per cent stake in the company as of 31-Dec-2022, while FIIs owned 2.97 per cent, DIIs 1.13 per cent.

The stock traded at a P/E multiple of -93.24, while the price-to-book value ratio stood at 2.79.

A total of 138,351 shares changed hands on the counter till 11:28AM (IST).

Smallcap ITeS company Axiscades Tech reported a sales growth of 26% in Q3 but reported a net loss of Rs 10.35 crore in Q3. In the December quarter of the previous financial year, the company had reported 7.8 crore profit. Despite the loss, the stock is up 217% in the last one year.

The stock has given a flag pattern breakout.

From the Sensex pack, Infosys, TCS, Tech Mahindra Power Grid and M&M were the top laggards, falling about 0.5-1%. Maruti, Nestle, Wipro and HCL Tech also opened with losses. Meanwhile, Bajaj Finserv, L&T, Bajaj Finance, Tata Steel and HDFC Bank opened with gains.

“Options data suggests a broader trading range between 17000 -17800 zones, while an immediate trading range in between 17300 to 17600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services, said.

All the remaining 9 Adani stocks were trading in the green zone with 3 of them - Adani Transmission, Adani Green, and Adani Power - locked in 5% upper circuits.

As of 31-Dec-2022, promoters held 30.3 per cent stake in the company, while FIIs held 21.58 per cent and domestic institutional investors had 14.09 per cent.

A total of 1,993 shares changed hands on the counter till 10:15AM (IST)