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"We have been saying this for a while again that June quarter is when the real poison in the IT sector numbers will come out because during the March quarter numbers, everybody was very euphoric for some reason as the IT players did not call it out in their December quarter numbers. One can expect that probably June quarter will be the worst off quarter."

A total of 23,581 shares changed hands on the counter till 01:17PM (IST)

The stock traded at a P/E multiple of 64.09, while the price-to-book value ratio stood at 4.79.

Rajagopal Menon, Vice President at WazirX said, "Major market indicators point towards a Buy sentiment. The Relative Strength Index (14), one of the key indicators, sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 15 and 29, respectively, further indicating a ‘buy’ and ‘Neutral’ market."

Hindustan Zinc CEO, Arun Misra, has stated that despite the Zinc International deal missing its April deadline, discussions are ongoing and he expects the deal to be completed before the end of the year. Misra also highlighted several factors that are expected to drive cost reductions, including increased availability of domestic coal and digitalisation projects.

The stock traded at a P/E multiple of 54.01, while the price-to-book value ratio stood at 2.59.

On a sequential basis, the net profit rose 4% from Rs 156 crore in the preceding December quarter. Revenue from operations during the quarter surged as much as 48% to Rs 1,751 crore against Rs 1,181 crore in the year-ago period.

The company last month demerged its flagship brand RedTape into a separate entity. As per the demerger agreement approved by the National Company Law Tribunal, shareholders of Mirza International received one fully paid-up equity share of RedTape, with a face value of Rs 2, for each unit they held in Mirza International.

Companies with high promoter holding stocks are considered to be safer to invest in, compared with those with relatively lower stakes.

The current rally in the Indian market will be driven by the domestic sector, according to a statement by Rahul Chadha of Mirae Asset Global Investments. Investors should take a medium-term view as the next three to four months would be challenging due to the US economy slowing down which would affect the export sector. Although India’s luxury market is on an uptick, there are not many plays in that segment. Rremain invested in the Indian market by looking for entry points in the challenging times.