Tue, Jan 7, 2025 9:54 AM
CLSA upgrades ONGC shares to 'high conviction outperform'
A Flip by Shubhangi Gupta
Bartronics India's shares rose 5% to ₹24.62 after announcing an MoU with Singapore's PTW Group, aimed at boosting India's semiconductor sector. The collaboration will enhance fabrication, production, and training facilities, addressing the growing demand for semiconductor solutions in the country.
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Crude oil prices edged up on January 8 amid supply concerns from Russia and OPEC members. Brent crude showed an up move of 32 cents, or 0.42 per cent and touched $77.37 per barrel. Similarly, US West Texas Intermediate (WTI) increased by 42 cents or 0.57 per cent and reached $74.67. Increase in the US jobs openings indicating the expansion of economic activity leading to a growth in oil demand.
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Shares of Indian electronics manufacturing firms Dixon Technologies, Kaynes Technology, and Amber Enterprises plummeted, led by an 8% decline in Dixon Technologies, biggest in 10 weeks, following a 2% drop in the Nasdaq Composite index due to concerns over stubborn inflation and interest rate cuts. Aside from that, shares of Kaynes Technology and Amber Enterprises fell around 4 percent each.
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