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A total of 134 shares changed hands on the counter till time (IST).

To simplify, we recommend that the tenure be reduced from 3 years to 2 years to classify Debt as long term. This would reduce the complexity of long-term instrument classification and encourage more retail participation in debt instruments.

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The stock quoted a 52-week high of Rs 918.3 and a 52-week low of Rs 557.0.

The brokerage models 17% YoY revenue growth. Three-year revenue CAGR at 12%. Further, it models 100bps sequential improvement in gross margin to 54% while it will be down +300bps YoY.

The Relative Strength Index of the stock stood at 34.01 on Wednesday.

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“A soft landing or a very mild recession means the market has already absorbed a large part of the pain and would lead to a lot of those growth stocks coming back quickly. Nonetheless, whenever we get to that point of terminal rate, there will be a trade where core economy sectors like banks would start showing bigger underperformance compared to many in the technology space.”

Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 21.09 per cent, DIIs 34.62 per cent.

Analysts also point that being a forward-looking animal, the market would have already factored in global recession worries as investors were aware of this high probability event since the past few months.