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The Nifty IT index closed 0.07 per cent up at 35080.1.

Its net interest margin (NIM), a key profitability parameter, was lower at 2.27 percent against 2.58 percent a year earlier. Its net interest income (NII) fell 19 per cent at Rs 3,407 crore against Rs 4,190 crore.

The current provision of sub-section (8) of section 94 of the Act contains an anti-avoidance provision to deal with bonus stripping transactions. The provision, as of now, is applicable only to mutual fund units. But in this Budget, the government has made an amendment to the definition to include even securities or ‘units’.

“We have not gone for an aggressive price hike and have only taken routine price increases.”

The stock quoted a 52-week high price of Rs 442.95 and a 52-week low of Rs 261.1.

Its sales during October-December 2021 jumped 46.68 per cent to Rs 476.83 crore, compared with Rs 325.06 crore in the year-ago period.

The Relative Strength Index of the stock stood at 42.43 on Friday.

Budget policies give a boost to new-economy businesses as well as MSMEs

The Nikkei ended the day up 0.73% at 27,439.99. For the week, it booked a 2.71% advance, its best performance since mid-October, tracking moves in global shares on overall healthy corporate earnings, led by U.S. firms.

The stock traded at a P/E multiple of 7.72, while the price-to-book value ratio stood at 10.07.