Tue, Feb 13, 2024 3:01 PM
Madhu Kela says overvalued PSUs seeing correction
A Flip by Shubhangi Gupta
Chief minister M K Stalin on Tuesday inaugurated a new IT park on the ELCOT (Electronics Corporation of Tamil Nadu) premises at Vilankurichi in the city.Spread over an area of 2.94 lakh sq ft and constructed at a cost of Rs 158.32 crore, the new IT park is expected to provide employment opportunities to 3,500 people.
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Shares of agro-chemical firm Dhanuka Agritech Ltd. were trading with gains of up to 8% on Wednesday after the company posted strong results, driven by gross margin expansion. The stock hit an intraday low of ₹1,510.10 and an intraday high of ₹1,625 today. Net profit for the second quarter increased by 15.5% year-on-year to ₹117 crore, while revenue grew by 6% from the year-ago period to ₹654 cr.
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On Tuesday’s first day of bidding, Sagility India Ltd., a supplier of technology-enabled healthcare services, earned a 0.23 times subscription for its initial public offering (IPO). November 7 is the last day of the Rs 2,106.6-crore IPO, with a price range of Rs 28 to Rs 30 per share. The IPO received a 0.39 times subscription up until 13:49 pm on Wednesday, the second day of bidding.
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