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Vedanta and Piramal Pharma Surge, Crompton Greaves Declines IPO Highlights for KRN Heat Exchanger and Diffusion Engineers and more
Vedanta and Piramal Pharma Surge, Crompton Greaves Declines IPO Highlights for KRN Heat Exchanger and Diffusion Engineers and more
Written by - Fisdom Research
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September 26, 2024
2 minutes
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Market Snapshot
On September 26, benchmark indices reached new record highs, fueled by widespread buying and positive trends in global markets.
The metal and auto sectors each saw gains, while FMCG and PSU Bank indices also experienced an increase; however, the capital goods index recorded a decline.
The BSE Midcap index ended the day flat, whereas the Smallcap index experienced a slight decrease.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY AUTO
2.3
NIFTY FINANCIAL SERVICES
0.7
NIFTY METAL
2.1
NIFTY BANK
0.5
NIFTY PSU BANK
1.0
NIFTY IT
0.5
NIFTY FMCG
1.0
NIFTY MEDIA
0.4
Top News
Vedanta shares surged 5% after the company announced its board will meet on October 8 to discuss a possible fourth interim dividend for FY25, with a record date of October 16 if approved.
Piramal Pharma shares rose 4% after the company set a goal of $2 billion in revenue by CY30. Jefferies also raised the target price to Rs 260, indicating a 20% upside from the previous closing of Rs 216.
Crompton Greaves shares dropped 5% after projecting average Q2 demand. Morgan Stanley maintains an ‘Equal-weight’ rating with a target price of Rs 323, indicating a 26% downside.
KRN Heat Exchanger IPO subscribed over 30 times on Day 2 so far.
Diffusion Engineers’ IPO was subscribed 2 times shortly after opening, driven by retail investors.
IT solutions provider Mouri Tech files draft papers for Rs 1,500-crore IPO
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