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The Nifty IT index was trading 0.4 per cent up at 36588.75.

"(In FY22) total turnover has been Rs 1,436 crore (provisional) registering growth of 22 per cent in comparison to Rs 1,177 crore in the previous year, and marginally lower than the highest-ever achievement of Rs 1,441 crore in FY 2018-19," the ministry said, according to a PTI report.

Zomato’s share price skid to a low of Rs 82.15 as against Rs 86.20 at previous close on the BSE.

The stock traded at a P/E multiple of 85.26, while the price-to-book value ratio stood at 21.99.

Asian stocks ticked up to their highest in more than a month supported by broad gains on Wall Street on Tuesday, while the euro was stuck near a one-week low against the dollar amid talk of more sanctions against Moscow.

Gold inched lower on Tuesday as the U.S. dollar held firm on rising prospects of more Russian sanctions, and bigger interest-rate hikes by the Federal Reserve to rein in inflation. Spot gold was down 0.2% at $1,929.60 per ounce by 0203 GMT. U.S. gold futures were flat at $1,933.60.

Edelweiss said it prefers HCL, Infosys and TCS among largecaps, and Coforge, LTI and Mindtree in midcaps. Among smallcaps, it prefers Zensar, Birlasoft and Firstsource.

“A lot of liquidity can be unleashed from the balance sheet which can be used to push growth especially at a time when the interest rates can harden. We do not know how it is going to play out. There is a huge cross-sell opportunity. Now the balance sheet size would be in excess of Rs 80 lakh crore. There will be a market share gain of 4.5-5%.”

“With credit growth happening, we are seeing initial signs that the best customers are going to be taken away by these banks and the tier two banks will have to go after customers with a slightly riskier profile because the cost of funds is higher. The top four private banks and maybe SBI will garner an increasing amount of market share and grow into larger behemoths.”

Gold prices may see profit booking ahead of de-escalation of tensions between Russia and Ukraine. The rising yields and stronger dollar is denting the bullions appeal, said Ravi Singh, Vice President and Head of Research, ShareIndia.