Tue, Feb 20, 2024 9:48 AM
Investors are turning wary of crowded India trade after run-up
A Flip by Avya Verma
📢Sensex declines 528 points at the close; Nifty ends above 23,500 📈 Domestic benchmark indices closed on a negative note on 9 January 2025. 📢 At 3:30 PM, the Sensex tanked by 528.28 points or 0.68% at 77,600, and the Nifty was down 162.45 points or 0.69% at 23,526.50. 📊Among sectoral, Nifty FMCG (⬆️0.93%) turned out to be the best performer while Nifty Energy (⬇️2.03%) saw considerable selling
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CLSA reaffirmed Bharti Airtel as its top pick in India’s telecom sector while highlighting growth opportunities for Indus Towers, Tata Communications, Bharti Hexacom, Sterlite Technologies, and Vodafone Idea. Bharti Airtel remains the star performer, supported by its strong market position, premium subscriber base, and strategic 5G rollout.
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Rakesh Damani-led Avenue Supermarts is set to present its earnings report for the third fiscal quarter of FY25 on January 11, 2025. The higher sales growth, as a result of increased store expansions are likely to lead revenue growth in the high teens. According to a Moneycontrol poll of five brokerages, DMart is likely to report a high revenue growth, up 19 percent on-year, at Rs 15,782 crore.
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