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On the technical charts, the RSI of the stock stood at 64.17.

Newgen Software Technologies Ltd., incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 4270.80 Crore) operating in IT Software sector.

The stock traded at a P/E multiple of 76.54, while the price-to-book value ratio stood at 7.32.

​​ The initial public offering (IPO) is purely an offer-for-sale (OFS) of equity shares worth Rs 680 crore by promoter and other selling shareholders. As a part of the OFS, promoter Ravi B. Goyal will sell shares worth up to Rs 677.58 crore.

AGS continues to focus on developing customized in-house solutions, infrastructure and technological capabilities, and has a long-standing relationship with global technology providers, said Reliance Securities.

The stock quoted a 52-week high price of Rs 1955.9 and low of Rs 860.2.

“We are looking at a modest downside to our forecast of 9% GDP growth in FY22 with the impact of Omicron likely to be limited within this quarter and not really spilling over into FY23.”

"For now, 17,950 looks to be a base case scenario for Nifty50. Alternatively, a pullback above 18,250 could render the trend neutral. It would be prudent to look for a Nifty50 close above 18,330 or dips to 17,950 before reconsidering longs," said Anand James - Chief Market Strategist at Geojit Financial Services.

Following the update, shares of Bajaj Finance jumped about 4 per cent to Rs 8,043.50, its new 52-week high, before giving up all the gains and trading a per cent lower at 7,655 at 10.25 am. The scrip settled at Rs 7,747.15 on Tuesday.

Revenue from operations of the company during the quarter under review grew by 26.5 per cent year-on-year (YoY) to Rs 2,730 crore compared with Rs 2,159 crore in the same period of FY21, DCM Shriram said in a statement.