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A total of 13,737 shares changed hands on the counter till 11:38AM (IST).

From the Sensex pack, HCL Tech, Infosys and TCS were the top gainers, rising 1-2%. Titan, Reliance, Sun Pharma, Wipro and Axis Bank also opened with gains. Meanwhile, only Tata Steel opened with the cuts.

India VIX moved down by 6.09% from 12.97 to 12.18 levels on Friday. Volatility has been cooling off from the last seven sessions and paved the way for bulls at support zones. On the weekly options front, the maximum Call OI is placed at 18000 and then towards 17900 strikes while the maximum Put OI is placed at 17500 and then towards 17400 strikes.

Promoters held 68.69 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 9.21 per cent and 5.99 per cent, respectively.

TechM’s wallet share in top-5 clients has been reducing for past four quarters and this is likelyto continue over the next two quarters as well due to increased level of automation and cost-reduction programmes undertaken by these clients.

Despite the gravity-defying rally in the last few years, value investors have stayed away from Adani stocks citing expensive valuations. "Classic PE is not the correct yardstick to value Adani stocks," Jain said, adding that the recent events made the investment opportunity attractive.

The consensus recommendation from 17 analysts for the stock is a Buy. Out of the 17 analysts covering the stock, fourteen have strong buy and buy ratings, while only one has a sell rating, and the other two have hold ratings.

The Nifty Auto index was trading 0.95 per cent up at 12908.6.

Treasury yields slipped on Friday, after hitting new highs earlier in the week, following comments from Federal Reserve officials that temporarily calmed fears around the direction of inflation and interest rates.

On the technical charts, the RSI of the stock stood at 44.04.