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Promoters held 26.06 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 53.15 per cent and 6.29 per cent, respectively.

A total of 21,088 shares changed hands on the counter till 02:10PM (IST).

Technology stocks plunged 5.9%, extending losses from the previous session, weighed down by a 9.8% and 5% slump in Block and Xero, respectively.

It is imperative for public spending to lead the way for a broad capex revival in the system for various reasons.

The Nikkei share average fell 1.06% to 27,241.31, while the broader Topix lost 0.86% to 1,919.92.

“We have been cautious on domestic consumer stocks for some time and the Budget only helps reinforce that view and within that, we prefer infrastructure and lenders over consumer stocks in India.”

​Overall, the Budget gambit hinges crucially on hopes of improved traction in India’s private sector, quick revival in private capex, pick up in employment, wage growth, and leveraging potential of the banking sector.

Most analysts are positive on the issue, while some advise caution. They see its market leading position, growing Indian wedding and celebration wear market and strong supply chain management as positives for the company.

On the technical charts, the RSI of the stock stood at 39.55.

A total of 89,110 shares changed hands on the counter till time (IST).