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“We added some stocks like Ahluwalia Contracts because that is a company in the construction segment where things are falling in place. They have no debt and now they have started getting orders and even that execution pickup is going to happen, margins will improve over the next couple of years. We have been adding to VA Tech Wabag continuously as I believe growth visibility is very strong out there.”

The Nifty Bank index was trading 0.26 per cent down at 37460.8.

The stock quoted a 52-week high price of Rs 141.75 and a 52-week low of Rs 86.7.

BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 7725.05 Crore) operating in Engineering sector.

A total of 5,820 shares changed hands on the counter till 11:46AM (IST)

On the technical charts, the RSI of the stock stood at 51.6.

The stock traded at a P/E multiple of 54.18, while the price-to-book value ratio stood at 6.41.

Indraprastha Gas Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 26673.53 Crore) operating in Gas & Petroleum sector.

Promoters held 59.47 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 26.51 per cent and 2.45 per cent, respectively.

“There are several factors due to which we need to be wary of technology companies because their valuations are much higher than historical valuations and they are very over-owned. In my view, the bigger risk is in the midcap IT where in the past we have seen that small misses and small outlook changes can lead to sharp stock price falls.”