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The stock traded at a P/E multiple of 22.03, while the price-to-book value ratio stood at 1.47.

A total of 100,088 shares changed hands on the counter till 12:33PM (IST).

The dollar continued its decline, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.

After the steep rally, the stock is now trading near the overbought zone and a pullback could be in the offing. It is trading above all the crucial short and long-term moving averages of 5,10,20,30,50,100 and 200-DMA. The Relative Strength Index (RSI) is at 75.7. RSI above 70 is considered overbought. This implies that stock may show pullback, Trendlyne data showed. MACD is above its centre and signal Line, which is a bullish indicator.

However, road transporters will be required for first and last-mile operations. The impact will be visible in bulk commodities like steel, cement, and coal. Segments like FMCG, Consumer, and Pharma may not see a very large shift towards rail.

The Nifty Realty index was trading 1.03 per cent down at 448.0.

"Markets have already factored in 35 basis points hike by the RBI on Friday, and expectations of not many hikes after this one has led to strong receiving interest in swaps, especially the five-year part," another trader said.

Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 101195.02 Crore) operating in IT Software sector.

The stock quoted a 52-week high of Rs 929.2 and a 52-week low of Rs 503.4.

The airline will revert to advance payment mechanism for its daily operations, it added, days after the aviation regulator ordered the low-cost airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags.