IndiaMART InterMESH Ltd shares surged 4% to Rs 2,268 after JM Financial upgraded its rating from "Sell" to "Buy", citing a 28% correction in stock price and potential recovery in collections growth and paying supplier additions, with a target price of Rs 2,450. JM Financial expects IndiaMart to maintain elevated EBITDA margins (34-36%) due to the absence of significant growth investments.
Open FlipZydus Lifesciences share price advanced over 5 percent in trade today after the company announced an agreement with US healthcare firm CVS Caremark to add its diabetes combination products to its template formulary. Zydus Lifesciences reacted sharply to the development in Tuesday's trade with the counter rising 5.23 percent to an intraday high of Rs 1,011.75 per share on the NSE.
Open FlipNuvama expects $180 million outflow due to ITC Hotels demerger, with $110 million and $70 million impacts on Nifty50 and Sensex, respectively, assuming a static price of Rs 260. The demerger ratio is 1:10, and ITC Hotels is expected to be listed separately in 30-40 days, after which it will be removed from NSE and BSE indices.
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