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The IPO will consist of the issuance of 1.02 crore fresh equity shares, with a face value of Rs 10 each, the company said in the DRHP. Promoters and existing shareholders will not be offloading their stakes via IPO.

Promoters held 68.69 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 11.57 per cent and 4.0 per cent, respectively.

"It is entirely possible that the dollar overshoots on the high side, revisiting levels we saw eight-nine years ago, but we think we are getting pretty close to a tipping point," said Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.

Betting on upside in Treasuries has been a risky proposition this year. Interest rates, which move inversely to Treasury prices, have galloped higher in 2022 as the central bank has grown progressively more hawkish, dealing the U.S. government bond market its worst start to the year in history and gouging investors betting the selloff would abate.

“I do not think the euphoria around the merger is justified. In terms of leadership, that will come from banks which can recognise where the growth should come from and can manage the NPAs better in the next cycle. At the end of a low credit growth cycle, all balance sheets are clean but once the credit growth starts, that is the time we need to control the NPAs on the balance sheet.”

A total of 16,061 shares changed hands on the counter till 12:07PM (IST).

HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 303957.63 Crore) operating in IT Software sector.

"While LTTS is well-positioned to play the ERD theme and grow at premium rates, we do not find the risk-reward favourable. We value the stock at 32x (earlier 34x) FY24E EPS. Maintain REDUCE rating with a revised target price of Rs 3,908 from Rs 4,413," brokerage ICICI Securities said in a note.

On the technical charts, the 200-day moving average of the stock stood at Rs 958.48.

PE ratio is directly proportional to share price and inversely proportional to EPS, which means that a higher share price will lead to higher PE ratio or vice-versa and a higher EPS will lead to lower PE ratio or vice-versa.