Nifty closes above 18,400, and Sensex is up 249 points, led by auto, oil & gas, and financials
Automobile, oil and gas, and banking all gained 0.5 per cent.
The Sensex was up 248.84 points or 0.40% at 61,872.99 at the close, while the Nifty was up 74.20 points or 0.40% at 18,403.40. Around 1582 shares have risen, 1814 have fallen, also 120 have remained unchanged.
Power Grid Corporation, ONGC, ICICI Bank, Bharti Airtel, and Dr Reddy’s Laboratories were among the top Nifty gainers, while Coal India, HDFC Life, Grasim Industries, Cipla, and Bajaj Finserv were among the biggest losers.
Nomura maintains a neutral rating on Bharat Heavy Electricals, with a target price of Rs 79.
- Stayed neutral, raised the target to Rs 79 per share
- Execution disappoints, but thermal orders rise
- Tendering momentum and working capital moderation key triggers
- The bidding strategy appears to be aggressive
- CNBC-TV18 reported that EPS estimates for FY24/25 have been reduced by 30%/13%.
- Bharat Heavy Electricals was trading at Rs 70.30, a 1.75 per cent decrease.
Jefferies believes LTIMindtree’s $5 billion revenue target is too optimistic.
According to investment bank Jefferies, the $5 billion revenue target set for LTIMindtree. The new entity formed by the merger of Larsen also Toubro Infotech also Mindtree, is “optimistic.”
Brokers anticipate some uncertainty before LTIMindtree, which began operations as a unified entity on November 14, reorganises its strategy and reassesses priorities.
Syngene International’s biologics facility receives no FDA observations.
From November 07, 2022, to November 15, 2022, the US Food also Drug Administration (FDA) conducted a pre-approval inspection of Syngene International’s biologics facility in Bangalore. The review was completed with only 483 observations.
On the BSE, Syngene International traded at Rs 625.00, up Rs 2.55, or 0.41 per cent.
