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Market at 2 PMBenchmark indices were trading at day’s high level with Nifty above 17300.The Sensex was up 734.35 points or 1.29% at 57771.85, and the Nifty was up 203.90 points or 1.19% at 17340.40. About 2171 shares have advanced, 914 shares declined, and 113 shares are unchanged.
Enforcement Directorate (ED) has conducted searches at 2 locations of JSPL in Delhi & Gurgaon, quoting Sources, reported CNBC-TV18.
Hitachi Energy wins Rs 160 crore order from MP Power Transmission
Hitachi Energy India has won an order worth about Rs 160 crore from MP Power Transmission Package-II Limited, a project-specific business to strengthen the transmission system in the rural area of Madhya Pradesh to increase capacity and improve reliability of the power infrastructure in the region. The order was booked in the January to March quarter.
Hitachi Energy India was quoting at Rs 3,305.00, up Rs 2.00, or 0.06 percent on the BSE.
CLSA on Bharti Airtel Research firm CLSA has kept buy rating on Bharti Airtel with a target at Rs 915 per share.Airtel Payments Bank have 122 million users and saw annual revenue exceed Rs 1,000 crore, up 60% YoY.The payments bank’s edge versus competition is led by access & reach, reported CNBC-TV18.
Nifty Auto index gained 1 percent led by the Bhaat Forge, Tube Investments Of India, Balkrishna Industries:
CLSA view on ICICI Securities:
Brokerage firm CLSA has maintained outperform rating on the stock and cut the target price to Rs 720 from Rs 750 per share.
The company reported muted performance, as brokerage volumes down sequentially.
CLSA raises FY23-25 cost-to income ratio to 51%+ and cut FY23/24 estimates.
Atul Auto joins hands with Honda Power Pack Energy and ValeoTo enlarge its product offering and to better service the needs of the last mile mobility customers, Atul Greentech Private Limited (AGPL), a subsidiary of Atul Auto, is collaborating with Honda Power Pack Energy India Pvt. Ltd. and Valeo to develop the prototype Cargo and Passenger three wheeler with the most reliable Honda Mobile Power Pack i.e: Swap & Valeo powertrain system, company said in its release.
ITC to acquire up to 10.07% of share capital of Blupin Technologies for Rs 39.3 crore
lTC proposes to acquire 10% stake in Blupin Technologies Private Limited, the company behind brand Mylo. Founded in 2017, Mylo, is a full stack community eco-system focused on the parenting journey of young families. Mylo addresses the needs of its consumers through a wide and relevant range of content, health tools, conversations and community sharing features. Beyond personalised content and an active community, Mylo also offers its users direct-to-consumer (D2C) personal care brands. With this investment, lTC will further expand its presence in the D2C mother and baby care segment. The stock was trading at Rs 262.00, up Rs 2.50, or 0.96 percent. It has touched an intraday high of Rs 264.40 and an intraday low of Rs 259.70.
Ramkrishna Forgings bags 5-year export order worth Rs 33 crore
Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged, and machined products has won an export order with an estimated business value of Rs 330 million over 5 years from Europe’s leading Tier-1 axle manufacturer for the Front Axle Business, the company said in an exchange filing. The stock was trading at Rs 190.40, up Rs 7.15, or 3.90 percent. It has touched an intraday high of Rs 192.00 and an intraday low of Rs 184.00.
Market at 11 AM
Benchmark indices trading near the day’s high with Nifty above 17250
The Sensex was up 531.43 points or 0.91% at 57568,93, and the Nifty was up 148.85 points or 0.87% at 17285.4. About 2254 shares have advanced, 916 shares declined, and 125 shares are unchanged.
Source: BSE
Dhanlaxmi Bank signs MoU with CBDT and CBIC:Dhanlaxmi Bank signed MOU with Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) for collection of Direct Taxes and Indirect Taxes. Bank has been authorised by the Reserve Bank of India (RBI) based on the recommendation from the Controller General of Accounts for collection of various Taxes.
