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Earlier this month, the company had sub-divided its equity shares in 1:2 ratio. The stock with a face value of Rs 10 each was divided into two shares with a face value of Rs 5 each.Dev Information Technology is an ITeS company, providing digital transformation to its customers, leveraging its expertise on cloud, automation, and data.

Promoters held 50.73 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 19.21 per cent and 9.18 per cent, respectively.

A total of 105,530 shares changed hands on the counter till 12:44PM (IST)

Bitcoin was holding the $16,000 mark while Ethereum continued to march towards $1,200 once again. Market participants were seen in no hurry to buy tokens at lower levels, awaiting more bad news.

The Nifty Bank index was trading 0.56 per cent up at 43259.8.

The stock rose more than 9% in a week and over 10% in a month. It has rallied more than 20% in the past 6 months. In terms of price action, the stock is trading well above the short- and long-term moving averages of 5,10,30,50,100 and 200-DMA which is a positive sign for the bulls.

For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1756.69 Crore, down -10.51 % from last quarter Total Income of Rs 1963.06 Crore and up 9.15 % from last year same quarter Total Income of Rs 1609.36 Crore.

“When it comes to the target price our SOTP on RIL is close to Rs 3,000 and the way we are valuing each of these businesses is we take the common normalised earnings growth as well as normalised margins rather than being carried away by what is happening in the near term. While the cracks on petrol and diesel and GRMs are extremely volatile, instead of giving these peak earnings a peak multiple, we are taking a more calibrated view.”

In the NSE list of stocks with a market cap of over Rs 3,000 crore, six stocks crossed their previous 5-year high values at close on November 28.

Time period given by analyst is 2 quarters when Mishra Dhatu Nigam price can reach defined target.