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Promoters held 0.0 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 14.66 per cent and 6.56 per cent, respectively.

“We expect to be able to sell a lot of service line offerings from Tech Mahindra into the client base at CTC as well as take forward the deep domain expertise in the insurance industry from CTC into our client base. ”

The Relative Strength Index of the stock stood at 55.21 on Tuesday.

Promoters held 69.44 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 11.66 per cent and 4.42 per cent, respectively.

Tata Power is well placed to capture the opportunities across the green portfolio where electricity demand is surging and supply is short.

“One needs to have more modest expectations from the market at this point of time. The medium term growth outlook for India corporate earnings is looking fairly robust and solid, but really there is no scope now at an aggregate market level for valuations to expand.”

“We believe AGS provides an opportunity to invest in a cash-cum-digital play from a long-term perspective,” said Anand Dama of Emkay Global, adding that the IPO is fairly priced in line with peers. He gave a ‘subscribe’ rating for the issue.

A total of 9,723 shares changed hands on the counter till 01:35PM (IST).

Measures for improving business climate, more medium term plan for manufacturing and infrastructure and a fiscal roadmap could be on the anvil, says Shiv Sehgal, President & Head Institutional Clients Group, Edelweiss Financial Services

On the technical charts, the 200-day moving average of the stock stood at Rs 227.58.