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The firm’s revenue growth at 1.2 per cent sequentially in constant currency terms missed consensus estimate of 3 per cent growth partly due to a one-off client-specific issue, while the EBIT margin of 21.5 per cent also fell below consensus estimate of 23.2 per cent.

Infosys was down 5.7 per cent to Rs 1,649. It also dragged shares of other IT companies such as Tech Mahindra (down 4 per cent), HCL Tech (down 2.3 per cent) and Wipro (down 2.2 per cent), which will soon disclose their quarterly earnings. IT stocks account for substantial weight in Sensex.

Promoters held 59.42 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 25.55 per cent and 2.64 per cent, respectively.

Hindustan Unilever Ltd., incorporated in the year 1933, is a Large Cap company (having a market cap of Rs 505667.28 Crore) operating in FMCG sector.

The insurer’s value of new business (VBN), a measure of profitability, expanded 31 per cent year-on-year (YoY) at Rs 775 crore for the quarter against Rs 591 crore a year ago. This was despite a 6.7 per cent fall in new business premium to Rs 4,788 crore against Rs 5,133 crore.

A total of 270,700 shares changed hands on the counter till 10:50AM (IST)

The Relative Strength Index of the stock stood at 55.05 on Monday.

The yen fell to a two-decade low of 126.795 in early Asian trading, before both Bank of Japan Governor Haruhiko Kuroda and Finance Minister Shunichi Suzuki voiced concerns and caused it to bounce as far as 126.25. But the rally proved short-lived and it was soon back around 126.57.

Edelweiss has a target of Rs 450 on ITC as it expects the change in ESG-related investment philosophy and EPS CAGR of 12 per cent to lead multiple re-ratings for the stock from 16 times currently to 30 times for FY24E earnings.

From a fundamental perspective, Poonawalla Fincorp stock looks overvalued as the ROE is negative 20 per cent and no significant growth in revenue is visible in the last few quarters.