Rail Vikas Nigam hits a upper circuit of 5 percent

The Markets Today in a nutshell

• Domestic benchmark indices ended on a flat note.
• Overall market tone was on the positive side amid firmness in select index majors. Auto, oil & gas and select PSU banks advanced while pharma and FMCG were subdued after last week’s big up move. The advance-decline ratio was tilted towards buyers.

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News you could use

? Rail Vikas Nigam hits a upper circuit of 5 percent
The company was appointment as project implementation agency for the UTF Harbor Project in Maldives. This is a strategic project of Govt. of India. The project costs is a Rs 1,544.60 crore.

? India Pesticides stock price jumps 8.82 percent on getting environmental clearance
The company’s wholly owned subsidiary i.e. Shalvis Specialities (SSL) received environmental clearance from Ministry of Environment for setting up Manufacturing Plant of Agrochemicals & Intermediates, API Ingredients & Intermediates and Fine Chemicals Manufacturing Unit at UPSIDC Industrial Area, Sumerpur, District Hamirpur, Uttar Pradesh.

? Hariom Pipe industries stock price up on asset purchase agreement 
The company entered into asset transfer agreement with R.P.Metal Sections to purchase their operating asset which manufactures galvanized pipe and cold roll coil. This purchase is for an all-cash consideration of Rs 55 crore.

News from the IPO world?

• Radiant Cash Management Services IPO bought 53% till final day
• Adani Wilmar hits back-to-back 5% upper circuit in 2 days; best performing IPO in 2022
• SEBI may tighten norms for investments by mutual funds in IPO
• New-age tech companies gained in trade. Paytm rose 4.4%. Zomato and CarTrade were up by 2% each

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