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“One can expect some kind of a roadmap from the government on capital account convertibility at this juncture.”

"Sentiment was weakened by rising U.S. Treasury yields. Investors thought the U.S. market would fall this evening," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, adding mixed messages from the Bank of Japan after its policy meeting also weighed.

The S&P/ASX 200 closed 0.1% lower at 7,408.80 after rising 0.3% earlier in the day. The benchmark had added 0.3% on Monday.

Promoters held 0.0 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 14.66 per cent and 6.56 per cent, respectively.

“We expect to be able to sell a lot of service line offerings from Tech Mahindra into the client base at CTC as well as take forward the deep domain expertise in the insurance industry from CTC into our client base. ”

The Relative Strength Index of the stock stood at 55.21 on Tuesday.

Promoters held 69.44 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 11.66 per cent and 4.42 per cent, respectively.

Tata Power is well placed to capture the opportunities across the green portfolio where electricity demand is surging and supply is short.

“One needs to have more modest expectations from the market at this point of time. The medium term growth outlook for India corporate earnings is looking fairly robust and solid, but really there is no scope now at an aggregate market level for valuations to expand.”

“We believe AGS provides an opportunity to invest in a cash-cum-digital play from a long-term perspective,” said Anand Dama of Emkay Global, adding that the IPO is fairly priced in line with peers. He gave a ‘subscribe’ rating for the issue.