Mon, Dec 5, 2022 9:33 AM
Foxconn projects full production at COVID-hit China plant by December end
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Titan Company Ltd., Rekha Jhunjhunwala's biggest stock bet, reported a miss in consensus earnings driven by weaker jewellery margins for two consecutive quarters. Jefferies, which has a 'hold' rating and a target price of ₹3,500 per share on the counter, said that Titan's share price will trade weak today. The brokerage expects the Titan Company stock to stay rangebound in the near term.
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At the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 340.91 points or 0.46 per cent. By 9.15 am, the index stood at 74,073.65 signifying a gain of 195.5 points or 0.26 per cent over its previous closing. Meanwhile, 📌EIH Ltd, 📌Birla Corporation Ltd and 📌TVS Holdings Ltd emerged as the Top Gainers of BSE in the pre-opening session today.
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Shares of Deepak Nitrite Ltd. surged to the highest level since January 2022 after brokerage firm Morgan Stanley double-upgraded the stock to "overweight" from its earlier rating of "underweight." Morgan Stanley has also upgraded its price target on Deepak Nitrite to ₹2,985 from ₹1,625 earlier. The revised price target implies a potential upside of 22% from Friday's closing levels.
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