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IT, which was the undisputed leader of the rally in 2020 and 2021, is struggling now on concerns of the probable US recession impacting tech demand. The metals rally has fizzled out following the sharp correction in metal prices. Financials, in spite of their good performance, have been impacted by the relentless FPI selling.

The Nifty IT index was trading 0.66 per cent up at 28333.25.

The stock picked up momentum after the PSU stock saw its total revenue from operations growing 90.5 per cent YoY to Rs 3,140.61 crore in the quarter ended June 2022 compared to Rs 1,648.67 in June 2021.

The board meeting is scheduled for Monday, 25 July 2022 to consider a proposal for bonus shares and standalone as well as consolidated unaudited financial results of the company for the quarter ended 30 June 2022.

A total of 74 shares changed hands on the counter till 11:42AM (IST)

“Mphasis is a good name, Persistent is a good name. Persistent numbers will be fairly decent. They traditionally manage this currency volatility far better than the other guys and their demand is perfectly intact. In metal stocks, against the backdrop of valuation being at historic low, Hindalco looks very good and so does Tata Steel.”

As of 30-Jun-2022, promoters held 50.73 per cent stake in the company, while FIIs held 19.21 per cent and domestic institutional investors had 9.18 per cent.

Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 266467.84 Crore) operating in Auto sector.

Barring the US dollar-pegged Tether, all the top crypto tokens were trading lower on Thursday. Polygon plunged about 15 per cent, whereas Solana dropped 12 per cent. Avalanche and Cardano tumbled 9 per cent each.

VK Vijayakumar of Geojit Financial Services said Nifty50 is likely to consolidate around the present levels before making its next move, which will be influenced by the outcome of the ECB and Fed meetings due on July 21 and July 27, respectively.