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A total of 55,061 shares changed hands on the counter till 12:28PM (IST).

A correction in the stock price may provide a good entry for the long term as Elara remains optimistic on the defence indigenization story, led by the unexplored exports market in the missile space.

The stocks which is part of the restaurant industry is moving from strength to strength. It is now communicating to customers about a 20-minute delivery USP. The domestic brokerage firm continues to remain constructive on the stock. Jubilant enjoys structural strength for providing the fastest delivery, it said,

Top crypto tokens were trading mixed, with minor changes. Polkadot was down 1%, while Shiba Inu, Litecoin and Cardano followed. Tron and Dogecoin led the losers.

The stock quoted a 52-week high price of Rs 2864.35 and a 52-week low of Rs 2002.5.

Buying is seen across the healthcare space and the stock is likely to outperform in the coming sessions. “Looking at overall chart structure on the daily scale we expect the stock to move upwards towards 5050 zones from current levels with a stop loss below Rs 4600 zones on a closing basis in the next 3-4 weeks,” recommends Beriwal.

The stock traded at a P/E multiple of 10.82, while the price-to-book value ratio stood at 1.06.

“We are starting to see a lot of production move to other places and one of the stories for Indian investing over the coming years will be how India can benefit from this move away from China. But in the short term, this is problematic because it raises the problems that a lot of the world’s raw ingredients or a lot of the early stage and even later stage manufacturing is coming from one place.”

MphasiS, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 37176.44 Crore) operating in IT Software sector.

The Nifty IT index was trading 0.17 per cent up at 28813.65.