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Varun Lohchab of HDFC securities says that they are not overly worried about TCS replacing its CEO. . They believe that the new CEO is equally capable and has a lot of experience with the company. They also believe that the company has a strong leadership pipeline, which means that there are many leaders who are being groomed.

The Nifty Bank index was trading 0.99 per cent down at 39206.6.

Gabriel India, incorporated in the year 1961, is a Small Cap company (having a market cap of Rs 2065.60 Crore) operating in Auto Ancillaries sector.

The movement in crude oil prices also has a bearing on the upstream companies line Reliance Industries Limited, Oil & Natural Gas Corporation Limited. Gupta said that a rising price trend is beneficial for these companies and they gain from unsold inventory as margins go up.

A total of 416,501 shares changed hands on the counter till time (IST).

Momentum indicators RSI and MFI are in a medium range at 41.6 and 34, Trendlyne data further revealed. A number below 30 indicates that the stock is trading in the oversold zone while above 70 suggests it is in the overbought territory.

“We expect the Nifty to consolidate between these two parameters from the next few trading sessions. we believe that the pullback rally has some more steam left and the nifty is likely to carry on this positive momentum next week as well,” the Sharekhan analyst said.

Vivek Bajaj, co-founder of StockEdge, shares his insights on how to trade derivatives in India and why the market is not linear. He also discusses the risks of market volatility and how to navigate through it. His portfolio is adjusted according to market conditions. When the market trades below 200-EMA, he prefers the exit-only mode. He is 90% cash in his momentum portfolio.

The company has 46 work orders in hand having an aggregate order book value of Rs 1,291 crore, as of the December quarter. Out of these, 30 are ongoing and 16 are new work orders, which are yet to start.

Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 87101.26 Crore) operating in Metals - Non Ferrous sector.