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“Everybody will be profitable. I do not see much difference in this cycle in IT. In IT, India is an exporter and we are a very large exporter. IT is eternal. But I am very bullish on metals, infrastructure and hospitality.”

The Nifty IT index closed 1.18 per cent up at 35788.75.

The issue consists of equity shares worth up to Rs 216 crore with a face value of Rs 10 each and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders

"A portion of the IPO would be reserved for anchor investors like we have done in case of IPOs of IRFC and RailTel," Pandey added.

"The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both, the affordable housing segment as well as in high end properties. The increasing sales momentum and new project launches augur well for the housing sector," HDFC said in a statement.

At the interbank foreign exchange, the rupee opened at 74.76 against the American dollar, and later witnessed an intra-day high of 74.71 and a low of 75.02 against the greenback.

“The PE valuations at all points of time do not matter but at this point of time, the market is very wisely selecting a recovering growth at good valuations versus modest growth at very expensive valuations.”

The operating revenue came in at Rs 2,112.64 crore, down 22.59 per cent against Rs 2,729.36 crore in the corresponding quarter last year.

People investing in private crypto should understand that it is does not have the authorisation of the government. There is not any guarantee that your investments will be successful or not, one may lose money and the government is not responsible for this, he said

In the international market, gold was trading lower at $1,799 per ounce and silver was flat at $22.67 per ounce.