Equity stakes worth Rs 254.3 crore in Suzlon Energy were sold through large deals in the morning trade on Tuesday, 10 September, amounting to 0.3 percent of the company’s shareholding. CNBC-TV18 reported that 3.7 crore shares of Suzlon changed hands at an average price of Rs 77 per share. Suzlon’s stock jumped 5% on Tuesday to surpass Rs 78, as Morgan Stanley maintained an 'Overweight' rating.
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Tata Power‘s share price was upbeat on Tuesday morning going up close to 2% to hit an intraday high of ₹425.80. What Happened: The stock is in the green today as the Tata Group company commenced the production of solar cells at its 4.3-gigawatt plant in Tirunelveli, Tamil Nadu, marking the launch of operations at India’s largest single-location solar cell and module manufacturing facility.
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Information Technology (IT) stocks remain in focus ahead of the all-important US Federal Reserve meeting on September 17-18. Out of the 10-pack Nifty IT index, Coforge, LTIMindtree, Infosys, L&T Technology Services Ltd., Persistent Systems Ltd. and TCS were trading in the range of 1-4%. Motilal Oswal Financial Services expects the IT services sector to be on the cusp of recovery.
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