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“Maybe in two quarters, attrition will fall but do not expect it to go below pandemic level because if it goes to pandemic level or pre pandemic level, I will downgrade the whole sector because then it is a negative sign. It means that demand is not good. I want good attrition but not this level of attrition. ”

One worry for the company is its high attrition rate -- the rate of employees resigning in a year -- that some believe may be peaking. The company said IT services attrition continued to climb, reaching 17.4 per cent in Q4.

"With the substantial easing of restrictions on movement of people and functioning of offices, it has now been decided to restore the opening time for regulated financial markets to their pre-pandemic timing of 9 am," the release said.

The rupee finally settled at 75.94 against the dollar, down 1 paise from the previous close.

With this launch, the company aims to scale up its ambition in the financial services sector. GCL will be the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC).

The Nifty IT index closed 1.41 per cent down at 34895.9.

Nagaraj Shetti, Technical Research Analyst at HDFC Securities said a small negative candle was formed with gap down opening, which was placed beside the long positive candle of Friday. Technically, this pattern reflects ongoing sideways movement in the market at the support of 17,600 level, he said.

Though, the dividend might not be much for shareholders, given it is one of the most expensive stocks in the market. The stock ended flat at Rs 18,450 on BSE on Monday.

In the international market, gold was trading higher at USD 1,953 per ounce and silver flat at USD 24.93 per ounce.

“We are in for an exciting period. Godrej Properties has its best ever year for sales in the year that has just completed. Overall, this is going to be an excellent few years for the property market and consequently a great opportunity for housing finance players as well where scale in the industry is set to double quite quickly over the next few years.”