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Investors in India’s credit market turned bullish as corporate credit worries faded after companies took advantage of easy liquidity during the pandemic to clean up their balance sheets. Even the bad-loan ratio of Indian banks is at seven-year low following steps to clean up what was once the world’s worst debt pile.

​ "Since yields have eased slightly, companies are going aggressive in their fundraising exercise, and also they would not want to keep a larger chunk towards the end of the fiscal as liquidity is likely to tighten," said Ajay Manglunia, managing director and head of investment grade group at JM Financial.

"Foreigners have begun the year selling, presumably to fund purchases in China triggered by the mother of all U-turns," Wood wrote in his GREED & fear note, adding that high valuations remain the challenge.

A total of 8,030,168 shares changed hands on the counter till 02:08PM (IST)

Asian markets mostly rose again Friday after data showing another slowdown in US inflation fuelled bets the Federal Reserve will take a softer approach to its monetary tightening campaign.

The stock traded at a P/E multiple of 49.42, while the price-to-book value ratio stood at 12.22.

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“Momentum indicators on the technical front show a lot of strength in this particular stock. I believe it has a potential to reach up to Rs 2,380-2,400 level. So, one can take a long position in Balkrishna Industries at the current market price with the stop loss at Rs 2,190 levels on a downside for an immediate target of 2300 to 2320.”

The stock quoted a 52-week high price of Rs 451.5 and low of Rs 312.05.

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 621685.48 Crore) operating in IT Software sector.