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We believe the slowdown impact would be more broad-based, and could be more in the hi-tech segment where clients may not opt for upgrades and rather continue with the current processes,” said Mitul Shah, head of research at Reliance Securities.

The stock quoted a 52-week high price of Rs 451.35 and low of Rs 312.05.

On the technical charts, the 200-day moving average of the stock stood at Rs 201.57.

However, the growth did not drive up its advertising revenue. Businesses, including funding-strapped startups and online brands, kept a lid on their marketing budgets due to high fixed costs.

Nykaa is trading below all its major moving averages, and we are facing massive selling pressure there. Unless the stock crosses Rs 142-143 levels, we can see further downside in this stock below Rs 120 levels. So if anyone is holding the stock, Rs 130 has to be at stop loss below which, we could see deeper cuts in this counter," said Sudeep Shah, SBI Securities

The brokerage expects healthy loan growth, coupled with stable margins and contained provisions to support profitability of the lender. However, slippages are likely to remain elevated, given residual stress recognition in CV, MFI books. The brokerage expects net interest income to grow 18% to Rs 4,468 crore.

Few crypto tokens have benefited more than bonk, which was launched at the end of December on the Solana blockchain and had rocketed 5,000% by early January. It has since fallen back, though remains up 910% since the start of the year.

"Paytm’s FY23 lending volumes are tracking 90% higher than our earlier estimates, and this, coupled with stronger payment margins, has resulted in the company’s profitability continuing to surprise to the upside," Goldman said in a report.

As of 30-Sep-2022, promoters held 0.0 per cent stake in the company, while FIIs held 7.22 per cent and domestic institutional investors had 2.09 per cent.

The Relative Strength Index of the stock stood at 55.39 on Tuesday.