Wed, Jan 8, 2025 9:11 PM
Bond 'tantrum' dawns as rout sends shockwaves through markets
A Flip by Shubhangi Gupta
Praj Industries' shares rose ✅ 1.4% to Rs 811.4 after Kotak Institutional Equities initiated coverage with an "add" rating and a target price of Rs 880, implying an 8.5% upside, citing the company's strong positioning in the ethanol sector and growth prospects in bioenergy and international markets.
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The Indian rupee opened at a new low on January 9 due to strong dollar demand but pared some of the losses on likely intervention by the Reserve Bank of India (RBI), currency experts said. At 11.15 am, the local currency was trading at 85.89 against the dollar after opening at 85.93, a new low. The rupee closed at 85.86 in the previous session.
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Quadrant Future Tek's IPO has received an overwhelming response from investors, with retail investors subscribing 164.77 times and non-institutional investors 119.60 times, leading to an overall subscription of 62.85 times on the final day. Shares of Quadrant Future Tek are commanding a premium of Rs210 in the grey market.
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