Shares of midcap technology services company Coforge ended 3.3 percent higher on Friday, gaining for the fifth day in a row.

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Sources within the dealing rooms told CNBC-TV18 that a large block deal is about to take place in the stock soon.

The company's management was quizzed about the same in their post-earnings interaction on CNBC-TV18. Sudhir Singh of Coforge said that Baring PE, which holds close to 40 percent stake in the company through its unit, is best placed to talk about their stake but hoped tha they stay on for the long term.

A Rangebound Week

Benchmark indices continued to remain in a range with the Nifty 50 ending lower for the second day in a row after two days of gains. Financials continued to outperform in today's session courtesy the HDFC twins.

Dealers suggest that flows at the FII desk are mixed and financials are well bid. However, selling was seen in FMCG names like HUL and Godrej Consumer Products. HUL ended as the top loser on the Nifty 50 post its earnings and royalty payout concerns with its parent Unilever Plc.

For the next week, the market will react to earnings from Reliance Industries, along with other banking heavyweights like ICICI Bank and Axis Bank.

Dealers maintain that the Nifty 50 range for the near-term remains between 17,800 - 18,300.

Besides Coforge, here are some other stocks that have been part of the dealing room chatter today:

Indiabulls Real Estate: The stock has been alternating between gains and losses for the last eight trading sessions, and ended another 1.5 percent lower on Friday. Dealers indicate that despite Friday's drop, there was small amounts of FII buying seen in the stock. All eyes are now on the final NCLT merger approval with Embassy in February.

Tata Steel and Zomato: Dealing rooms indicate that both these stocks saw limit buy orders being placed at FII desks. A limit buy order is an order to buy or sell a stock with a restriction on the maximum price to be paid or the minimum price to be received. While shares of Tata Steel ended lower, Zomato gained for the third day in a row.

(Edited by : Hormaz Fatakia)

First Published:Jan 20, 2023 4:37 PM IST