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"Its payments consumer and merchant base offers a large addressable market, thereby providing a long runway for growth. We continue to work with our partners to remain focused on the quality of the book," the company said.

Data Patterns (India), incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 6851.11 Crore) operating in General sector.

The stock quoted a 52-week high price of Rs 919.5 and low of Rs 597.5.

Silicon Valley Bank’s technology startup clients and investors fled last week, spurring the second-biggest bank failure in US history. The swift collapse of the lender sent ripples through the tech and finance industries, prompting the government to protect client deposits.

As recently as last week, markets were braced for the return of large Fed hikes but the swift collapse of SVB has changed those expectations, with market pricing in an 80% chance of a 25 basis point hike next week.

In the last month, the price has once again moved in the range of Rs 2,125-2,250 odd level and in the current week with relatively high volume the price broke the range and closed below the Rs 2,125 odd level.

The stock has outperformed the Nifty50 over a 12-month period giving returns of more than 34% against 2.6% returns given by Nifty50 and negative 11% returns given by the Nifty Small Cap 100 according to a data sourced from Trendlyne. The stock is a constituent of Nifty Small Cap 250.

Matthews says the world of investments is seeing different asset classes reacting significantly and in a sharp manner. This is an old fashioned bank panic, and in this day and age, it is not something that a lot of people would have expected. Technology has been the catalyst for it because with social media and various messenger platforms, news spreads at lightning speed and people can withdraw their money at lightning speed. The mood obviously is still very fragile.

All three major U.S. stock indexes closed sharply higher, with the S&P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.