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Stocks that were in focus included names like Hitachi Energy, which was up more than 3%, KPIT Technologies, which rose 4% to hit a fresh all-time high, and Linde India, which also rose nearly 3% to a fresh high on Wednesday.
"Companies like Persistent, LTIMindtree, Coforge have delivered a decent set and the management commentaries have been very optimistic. They do not believe that pricing issues will come through and order wins will continue. As EBITDA margins start normalising after the first half where wage hikes and the rest in terms of an increased allocation of operating expenses largely come through on the balance sheet, numbers should probably remain extremely stable even in the second half."
Recently, the company reported its earnings for the first quarter of FY24. It posted an 56.8 per cent year-on-year rise in its consolidated net profit to Rs 133.9 crore.
Tata Tech had filed IPO papers with Sebi in March. The issue is completely an offer for sale (OFS), under which the selling shareholders will offload up to 9.57 crore units representing 23.60% of its paid-up share capital.
KPIT Tech share price: Analysts noted that automotive manufacturers are prioritising investment in new age technologies and KPIT is at the forefront due to its strong domain expertise.