“We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK,” said Rajesh Gopinathan, chief executive officer and managing director.

Gold prices jumped nearly 2% on Friday after data showed a moderation in U.S. wage growth and a contraction in activity in U.S. services industries in December.Money market bets show 75% odds of a 25-basis point hike at the Fed's February policy meeting, with the terminal rate expected just below 5% by June.

The rally was part of a wider boost for risk sentiment supported by both the reopening of the world's biggest crude importer and hopes for less-aggressive increases to U.S. interest rates, with equities rising and the dollar weakening.Brent crude was up $1.96, or 2.5%, at $80.53 a barrel by 1450 GMT while U.S. West Texas Intermediate crude rose $2.10, or 2.9%, to $75.87.

"As at December 31, 2022, the total order book increased to 2,15,000 client orders, up around 10,000 orders from September 30, 2022. Demand for the New Range Rover, New Range Rover Sport and Defender remains strong and represents 74 per cent of the order book," it added.

The moves continued the trend lower for the dollar, which in the final three months of 2022 posted its biggest quarterly loss in 12 years. That was driven mainly by investors' belief that the Fed will not raise rates beyond 5%, from its current range of 4.25%-4.50%, as inflation and growth cool.

The benchmark S&P 500 and the Nasdaq closed the week higher on Friday after a moderation in wage increases and a decline in U.S. services activity in December buoyed hopes of a less hawkish stance from the Fed as well as a soft landing for the U.S. economy.

A total of 158 shares changed hands on the counter till 11:01AM (IST).

“Some of the growth sectors one has to avoid because one does not know when the Fed is going to pivot and after this morning’s report it does not look like they are going to pivot anytime soon. What they have been saying is that they are going to keep rates higher for a long period of time which means one has to stick more defensive and value rather than cyclical and growth.”