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“This strong growth guidance and margin performance (despite wage hikes) in an environment, where the demand for IT services is expected to be incrementally weaker, should help improve investor confidence in its business and lower the valuation gap with larger Tier 1 IT services peers.

The stock traded at a P/E multiple of 99.54, while the price-to-book value ratio stood at 19.49.

On the technical charts, the 200-day moving average of the stock stood at Rs 666.43.

The stock quoted a 52-week high price of Rs 3816.3 and low of Rs 1364.65.

“One should get a bit cautious on largecap IT. The better way to play software would be to buy into the midcap IT stocks which are focussing on differentiated verticals or have a slightly innovative business model. Those will be able to survive and grow even in this kind of a challenging environment.”

G R Infraprojects Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 11783.97 Crore) operating in Construction sector.

The stock hit a fresh record high of Rs 461 on 12th October and most technical indicators suggest a possible uptrend to continue that could take the stock towards Rs 650 levels which translates into an upside of over 50 per cent, suggest experts.

A total of 299 shares changed hands on the counter till 11:37AM (IST).

The stock quoted a 52-week high price of Rs 440.75 and a 52-week low of Rs 206.1.

“We raised rates by 50 bps twice or three times as has been the US. Even now they are trying to really fight inflation by raising interest rates. I do not know when this settles as it is just not peaking out in the US. I do not know what happens in India. At some point, you might even see the RBI raising interest far too aggressively than how they have raised so far and that is my fear that liquidity is likely to dry up in the next 12 months globally as well as in India.”