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"We have been holding IT for the last several months. They have not been moving up and down. In IT, it is all about the Nasdaq. If the Nasdaq bottoms, IT will bottom; if the Nasdaq does not bottom, IT will again struggle. The Nasdaq is all about interest rates. If the Fed comes and stops the interest rate hikes, they will do well."

A total of 2,120 shares changed hands on the counter till 12:14PM (IST)

Piramal Enterprises, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 19954.67 Crore) operating in Diversified sector.

The World Gold Council Managing Director for India Somasundaram PR said high gold prices and a sharper focus on Current Account Deficit (CAD) to support imports for growth in priority sectors may put gold under policy pressure in 2023.

As of 30-Sep-2022, promoters held 51.2 per cent stake in the company, while FIIs held 11.8 per cent and domestic institutional investors had 3.79 per cent.

The Relative Strength Index of the stock stood at 35.26 on Friday.

The stock quoted a 52-week high price of Rs 971.3 and a 52-week low of Rs 583.05.

The stock traded at a P/E multiple of 9.74, while the price-to-book value ratio stood at 2.85.

The Nifty IT index closed 0.36 per cent up at 28687.2.

At the CMP, the stock trades at 1.9x/1.6x/1.4x its FY2023E/FY2024E/FY2025E ABV,respectively.