Fri, Sep 2, 2022 1:29 PM
Adani Enterprises tops new peak on Nifty50 inclusion announcement
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Shares of Housing and Urban Development Corporation (HUDCO) and NBCC (India) jumped 8 percent on May 8 on heavy volumes and technical bullishness. According to analysts, a strong bounce back from lows including the Nifty Smallcap also led both stocks to rise significantly in intraday trade. At 1:37 pm, HUDCO shares were trading 8.2 percent up at Rs 225.15 on the National Stock Exchange (NSE).
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India seems to be on course to be the world's third-largest consumer market by 2026, outpacing Germany and Japan, said UBS. Over the past decade, India's consumption has almost doubled to $2.1 trillion in 2023, up from $1.2 trillion in 2013. Over the past decade, the country has clocked an average compound growth rate of 7.2 percent, outsmarting China, the US and Germany.
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Drugmaker Lupin Ltd. is poised for strong earnings after a robust turnaround last year but stretched valuations of the stock have already captured the scope for this, capping the room for further upside, brokerages said. This alone has promoted Kotak Institutional Equities to keep a 'sell' tag on the Lupin stock. Motilal Oswal Financial Services has a 'neutral' call.
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