However, the company remains vigilant about the implications of the current geopolitical tensions, elevated commodity prices, slowing external demand, supply disruptions, capital outflows, higher inflation in emerging economies and the withdrawal of monetary accommodation in developed economies.

“We are no more vulnerable as we were at some point of time when our capital adequacy was very low, provision coverage ratio was low, bad loan ratios were high, skill levels were low. All those are behind us. We have gained stability but yes, there is scope for further improvement,” Ramakrishnan said.

During their employment with Mindtree, they had transacted in the securities of the company but failed to make disclosures to the firm as required under the (Prohibition of Insider Trading) rules, as per Securities Exchange board of India (Sebi).

The board of directors in its meeting held on Monday approved the proposal of issuing long-term bonds for financing infrastructure projects and affordable housing worth to the tune of Rs 5,000 crore, the bank said in a regulatory filing.

The Sebi letter sent to the company on June 24, 2022 pertains to disclosures made by APL related to Official Action Indicated (OAI) and warning letter issued to it by the USFDA following inspection carried out in August 2021 on the Unit I, an API (active pharmaceutical ingredients) manufacturing facility in Hyderabad.

"To regain some strength, the bulls need a close at least above its 20-day SMA, whose value is placed around 15,984 levels. In such a scenario strength can further expand towards the 16,172 level.

“While shorts make money faster compared to longs because markets tend to fall faster than they go up. But bounce backs like these after a fall makes it really hard to book profits on time or continue holding shorts,” Kamath, who runs India’s largest stock broking platform, tweeted.

The Dow Jones Industrial Average rose 32.92 points, or 0.10%, at the open to 31,533.60.

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At the interbank forex market, the local unit opened sharply higher at 78.24 against the greenback, but paired all of its initial gains to settle at 78.34. It witnessed an intra-day high of 78.24 and a low of 78.36.In the previous session, the rupee had settled at 78.33 against the greenback.