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The Board has approved the strategic investment by the acquisition of 37,498 equity shares - representing 55 per cent of the equity share capital, on a fully diluted basis -- of Datawrkz Business Solutions Private Limited along with its wholly-owned subsidiaries at a total consideration not exceeding Rs 124 crores in two tranches.

Promoters held 60.51 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 11.3 per cent and 1.15 per cent, respectively.

A total of 10,791 shares changed hands on the counter till 12:59PM (IST)

Its market capitalization ranking within the BFSI space has improved to two from five in FY18. Stability of the top management has helped improve its operational performance.

The stock traded at a P/E multiple of 53.95, while the price-to-book value ratio stood at 1.22.

“Given the increase in Crude and US yields and fall in EURO and GBP, USD may now open at 74.38 against the INR and could be in a range of 74.15 to 74.55 for the day. The USD looks stronger and is expected to move higher after finding support at 94.50,” Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors said.

"Look for companies which are benefiting from the China plus strategy in the API, CRAMS segment in the chemical and pharmaceutical segments. Companies likes Supriya, Ami Organics, Anupam Rasayan, Rossari Biotech and even Laxmi Organics," says Deven Choksey

The stock quoted a 52-week high of Rs 1823.0 and a 52-week low of Rs 1393.0.

As of 31-Dec-2021, promoters held 46.53 per cent stake in the company, while FIIs held 15.28 per cent and domestic institutional investors had 13.26 per cent.

On the technical charts, the 200-day moving average of the stock stood at Rs 146.17.