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Now you would remember that in FY21-22 we had the Omicron and the Delta wave coming in. So, what you are seeing this year as a minus 5% is really not minus 5. It is a total patient because of large COVID base of the previous year

A total of 3,425 shares changed hands on the counter till time (IST).

The Nifty IT index was trading 0.06 per cent down at 28084.4.

Earlier this week, the index provider had come out with an announcement of reducing the foreign investment factors in both the stocks but subsequently, what has happened is the index provider has decided altogether to delete both the names.

Shares of Adani Transmission and Adani Total Gas plummeted by 5% on Friday after they were removed from the MSCI Global Standard Index, effective May 2023. The removal is expected to trigger outflows of $201m for Adani Transmission and $186m for Adani Total Gas, according to a report by Nuvama Alternative & Quantitative Research.

Morgan Stanley has maintained an overweight rating on ONGC with a target price of Rs 218 citing that the company has made two new discoveries. On the other hand, CLSA has underperformed Godrej Consumer with a target price of Rs 1000, retaining the margin improvement and category development. CLSA prefers M&M and Ultratech Cement in the auto and cement sector owing to visible signs of rural uptick. Emkay has a Buy rating on Eicher Motors, expecting a 25% FY23-25E EPS CAGR and setting a target price of Rs 4000.

Buy Godrej Consumer Products at a price target of Rs 1130.0 .

The Nifty Bank index was trading 0.08 per cent up at 43510.2.

IT overall has underperformed both in terms of large caps. Some midcaps have actually done very well like Cyient etc. So I think it has become a question of the drivers of growth for particular companies.

A total of 4,458 shares changed hands on the counter till 10:41AM (IST)