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Analysts suggest investors shall be cautious over the Indian markets, considering the outperformance and premium valuations over the global and Asian peers. They also pointed out the 200 bps gap between bond yield and earning yield.

"We regularly track and monitor all valuation parameters of our stocks and execute partial/complete profit booking based on these parameters. But if we believe the growth story is intact and stock has more potential to grow, we stick with our view and continue to hold the stock to generate multifold returns for our clients."

The stock quoted a 52-week high price of Rs 51500.0 and a 52-week low of Rs 31615.75.

Promoters held 50.05 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 12.11 per cent and 9.38 per cent, respectively.

For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 1237.41 crore, down 8.70 per cent from last quarter total income of Rs 1355.34 crore and up 42.99 per cent from last year same quarter total income of Rs 865.37 crore.

Sectorally, buying was seen in metal, consumer durables, auto, capital goods, and IT stocks.

Buying was seen across the market spectrum with auto, metal and realty stocks among top gainers.

“Any organisation’s first preference would be to find a middle ground and some organisations are already looking at setting up hubs closer to where most of the talent is. However, no employer likes to be blackmailed into a situation or cornered into a situation. So, if the resistance is beyond reasonable, the likes of TCS may make choices and decisions which are market leading.”

The US central bank is expected to hike rates aggressively in an effort to curb inflation. Inflation concerns have prompted other central banks across the globe to tighten monetary policy. Gold futures on MCX were trading higher by 0.29 per cent or Rs 143 at Rs 49,445 per 10 grams. Silver futures gained sharply by 0.70 per cent or Rs 399 to Rs 57,083 per kg.

Equity strategist Kranthi Bathini of Wealth Mills Securities opines that the impact of Fed meet’s outcome would be relatively less on India. “We are in a better position fundamentally. We never had zero interest rates and no ultra-loose monetary policies to trouble us. Fed rate hikes impact us as well but to a lesser extent,” he said.