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"The domestic IT sector had seen a strong run in 2020 and 2021 and some reversal was likely given the valuation. Further, domestic IT sector witnessed margin contraction and high attrition. The selling was accentuated by the large drawdown in Nasdaq – tech-heavy index. The sector after almost 30% in CYTD may find some plateauing and offers a strong opportunity to investors."

A total of 176,507 shares changed hands on the counter till 01:19PM (IST)

The stock quoted a 52-week high price of Rs 5930.7 and a 52-week low of Rs 3144.7.

"There are fundamental reasons behind FII selloff. India was relatively expensive to start with and that has added some kind of fuel to the fire to the current account worsening for India as a consequence of the fuel prices rising and the consequent weakness to the currency," Raychaudhuri told ET NOW.

"The exact quantum of increase will be subject to the specific model and market," it said, adding that the price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices.

An analysis of past recessions in 2008 (global financial crisis) and 2020 (pandemic) shows that stock prices override fundamentals as recession fears set in but surges later on as revenue catches up to the pre-recession trend a year or two into recovery.

A total of 12,003 shares changed hands on the counter till 12:17PM (IST).

"Rupee to trade in a range of 78 to 78.40 as foreign portfolio investors (FPI) continue to buy US dollar, along with oil companies while the Reserve Bank of India continues to sell and protect the rupee," Bhansali said.

“As women, we struggle with equity as well as debt fund raising and the number of women founders should go to 30-40% over the next decade. Hopefully we will have a similar ratio in terms of the number of women getting funded as well because without access to capital, it is hard to scale and build large enterprises.”

Navin Fluorine International Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 17893.15 Crore) operating in Chemicals sector.