“The BFSI, e-commerce, retail and consumer verticals are seeing much stronger demand. IT is expected to continue with a very strong demand trend for one or two years. On the manufacturing and auto side also, the demand for formal staffing has gone up. In all thse verticals we are expecting a stronger demand in the coming quarters.”

The Nifty may not go beyond the 17,450 level, said Sameet Chavan of Angel One, who added that the ongoing consolidation is likely to continue.

“When it comes to pharma we are not seeing secular growth. While India can be a secular growth story, we believe the US would not be and therefore one can bet on specific names from a long-term perspective – something like a Cipla or a Sun. Cipla because of its complex generic portfolio and Sun because of its specialty generic portfolio. In pharma, one needs to be a bit more picky.”

Analysts said the stock has potential to go as high as Rs 280-285 levels in the short term. They see support for the index around Rs 240-odd levels.

A total of 18,650 shares changed hands on the counter till 01:29PM (IST).

The stock traded at a P/E multiple of 628.66, while the price-to-book value ratio stood at 200.6.

As of 31-Dec-2021, promoters held 54.9 per cent stake in the company, while FIIs held 20.19 per cent and domestic institutional investors had 10.75 per cent.

Stock has crossed above its intermediate high by making higher top higherbottom formation. After consolidation the stock has given a breakout with highervolumes

Mahindra Logistics, incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 3160.92 Crore) operating in Logistics sector.

Dolat Capital, which sees a whopping 200 per cent upside potential in the stock, on Thursday said at a current equity valuation of sub-$4 billion, Paytm is trading at a modest 3.6x on FY23E revenues and offers traditional business kind valuations despite its hyper-growth and inclusion led scalable business opportunity for investors.