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"The immediate focus of the company is to continue to build on this momentum and increase penetration in our existing client base as we look at building an end-to-end digital marketing platform which will allow hotels to get a unique platform. 74 per cent of our business comes from subscription-based revenue which are with some of the leading brands of the industry – that are stable businesses, and any seasonality does not impact the business immediately. "

Ebitda for the quarter jumped 30 per cent YoY to Rs 7,597 crore from Rs 5,845 crore, up 30 per cent. The results were driven by positive macros and focus on downstream value-added products along with better-operating efficiencies, the company said in a BSE filing.

At 9.27 am, the BSE Sensex was trading 435.93 points or 0.80 per cent higher at 54,688.46. Nifty50 was trading at 16,314.50, up 144.35 points or 0.89 per cent. Midcap and smallcap indices rose up to 1.5 per cent.

"The US dollar index has slipped to near 1-month low amid some disappointing US economic data, reduced safe-haven demand and increasing debate about Fed’s monetary stance after FOMC minutes," he added.

Damani owned over 1 per cent stake in at least 14 listed companies as of March 31, which are valued at Rs 1.55 lakh crore today, down 23 per cent year-to-date, as per Trendlyne. This included the value of his ownership in DMart.

“The government’s measures and steps are actually very welcome. Of course, it will create additional demand for some of these products while bringing down inflation and that in itself might lead to its own consequences of higher oil consumption and so on, which is fine because it will allow the economy to grow faster. ”

Two-wheelers, tractors, consumer durables, FMCG and fertilisers are some of the sectors that are favourably impacted by a good monsoon. All eyes will be on these sectors as the monsoon progresses next month, analysts said.

The Relative Strength Index of the stock stood at 28.95 on Friday.

“Absolute earnings continue to trend towards recovery in Q4FY22 and FY23. On a longer-term basis though it is encouraging to note that the continuous slide in corporate profits to GDP ratio has been arrested and the trend has likely reversed for the better,” SBI MF said in a note.

According to the data from BSE, a total of 98 brokers have surrendered their membership in the last two fiscal years.