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In the broader markets, Nahar Polyfilms, Spandana Sphoorty and Jindal Drilling hit the upper circuit. Traders cheered the Budget winners but punished India Inc players who failed to pull off a strong show in the December 2021 quarter.

The issue garnered bids for 212.87 crore shares against the issue size of 12.25 crore shares on the final day of bidding, stock exchange data showed. Investors poured in bids worth nearly Rs 49,000 crore, 17.3 times more than the issue size.

“Everybody will be profitable. I do not see much difference in this cycle in IT. In IT, India is an exporter and we are a very large exporter. IT is eternal. But I am very bullish on metals, infrastructure and hospitality.”

The Nifty IT index closed 1.18 per cent up at 35788.75.

The issue consists of equity shares worth up to Rs 216 crore with a face value of Rs 10 each and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders

"A portion of the IPO would be reserved for anchor investors like we have done in case of IPOs of IRFC and RailTel," Pandey added.

"The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both, the affordable housing segment as well as in high end properties. The increasing sales momentum and new project launches augur well for the housing sector," HDFC said in a statement.

At the interbank foreign exchange, the rupee opened at 74.76 against the American dollar, and later witnessed an intra-day high of 74.71 and a low of 75.02 against the greenback.

“The PE valuations at all points of time do not matter but at this point of time, the market is very wisely selecting a recovering growth at good valuations versus modest growth at very expensive valuations.”

The operating revenue came in at Rs 2,112.64 crore, down 22.59 per cent against Rs 2,729.36 crore in the corresponding quarter last year.