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The stock traded at a P/E multiple of 46.47, while the price-to-book value ratio stood at 2.59.

The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday.

Joshi joined Infosys in 2000 and has since worked in different capacities for the firm. In his previous role, he was responsible for leading the financial services business in Europe. In 2007, he was appointed as CEO of Infosys Mexico and was instrumental in setting up the first subsidiary in Latin America.

Despite the sharp correction that stocks have seen recently, most of them are trading way above industry average price-to-earnings multiples. Given the risks to earnings growth, stocks are likely to remain out of favour, feel analysts.

In the domestic equity market, the 30-share BSE Sensex was trading 262.24 points or 0.44 per cent higher at 59,397.37 points. The broader NSE Nifty rose 79.50 points or 0.46 per cent to 17,492.40 points.

The Nifty IT index was trading 0.0 per cent at 29546.2.

​Akzo Nobel India, incorporated in the year 1954, is a Mid Cap company (having a market cap of Rs 10541.90 Crore) operating in Building Materials sector.

A total of 10,545 shares changed hands on the counter till time (IST).

A constant maturity fund, unlike a target maturity fund is most likely an open-ended fund. So, there is no end period for this. It can, in theory, go on forever. The important thing here is that the portfolio of a constant maturity fund will hold instruments of a constant duration.

Religare broking said the company has a strong opportunity in the international market and its new products and designs would aid growth and increase operational efficiency. The brokerage has a "neutral" rating on the public offer.