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A total of 17,235 shares changed hands on the counter till 01:09PM (IST).

“It is not only about the Russians destroying Ukraine, everybody’s getting destroyed. The trigger point is going to be this November midterm election and I can promise you that if the Republicans win the Senate and the Congress, you will see a mother of a rally before the year-end. ”

The company reported a consolidated net profit of Rs 83 crores for April – September 2022, an increase of 37 per cent compared to April – September 2021. Total revenue during the same period rose 34 per cent to Rs 272 crore.

On the technical charts, the RSI of the stock stood at 46.06.

"My main worry is the imminent slowdown in the western economies and what impact that will have on IT outsourcing. If these companies remain totally immune to that, then that call was totally wrong and these could become huge performers next year. But I would not bet on it. So what this result commentary and the buyback does is that it reduces downside risk. But it does not open up a very significant upside potential in my view."

As of 30-Jun-2022, promoters held 54.9 per cent stake in the company, while FIIs held 18.21 per cent and domestic institutional investors had 11.55 per cent.

Both its top line and bottom line were above the ET Now poll estimates of Rs 3,320 crore and Rs. 476 crore, respectively.

A total of 4,395 shares changed hands on the counter till time (IST).

The company has been given a four month period for the completion of the order, which is to be executed by February 9, 2023, the company said in the exchange filing.

The stock traded at a P/E multiple of -14.55, while the price-to-book value ratio stood at 2.79.