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​PVR, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 15047.78 Crore) operating in Media & Entertainment sector.

Promoters held 0.0 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 6.74 per cent and 3.33 per cent, respectively.

A total of 8,431 shares changed hands on the counter till 12:50PM (IST).

On the technical charts, the RSI of the stock stood at 58.46.

"While the IT services segment is going through a muted hiring phase, there is a huge amount of captives that are expanding in India which are your GCC frameworks which continue to hire. They have not stopped. They are going maybe a little slow on the basis of budgets but they are still growing and they are expanding with newer captives coming in. Third, Indian enterprises are also joining the bandwagon and ramping up their digital capacity. The fourth segment is startups which again are a little muted."

​So, from that perspective, I think next three to six months besides this kind of a price correction, I think we expect IT to do more of a time correction. But these are good levels to buy and which is why we have a buy rating on both Infosys and TCS. We do not expect near-term price performance. So, things continue to remain lacklustre for IT as overall pack.

The stock has moved in the range of Rs 318 to Rs 356 levels from September 2022 to January with volumes being quite low during this period. The price breached the consolidation phase at 356 and moved upwards with high volumes to make an all-time high of 394 odd levels.

A total of 6,144 shares changed hands on the counter till 10:56AM (IST)

We have seen huge amount of volatility related to market outlook and direction. And typically, whenever that happens, you see defensive sort of playing out better.

The rupee appreciated 1 paisa to 82 against the US dollar in early trade on Tuesday, tracking a weak dollar and positive trend in domestic equities. Forex traders said the upward trend in crude prices and outflow of foreign funds from equities market restricted the gain in the local unit.