Nifty Auto index registered a gain of about 1%.
The business will be set up under a new venture ‘Novel Jewels Ltd.'
Significant orders are valued between Rs 1,000 to Rs 2,500 crore.
Shares reaching a new 52-week high of Rs 129 is driven by optimism surrounding the Kavach system
Analysts of IIFL Securities cut estimates by ~10% for FY24-25 and downgrade to REDUCE.
Analysts of IIFL Securities see increased competition coming in from ASTRA and Tile players in FY24.
Analysts of IIFL Securities see either a spike in oil, price cuts towards H2 or a combination of both playing out.
Moreover, NELCO has the opportunity to pursue additional investments to raise its ownership stake to a minimum of 30%.
Total volume for the month registered a growth of 8%.
The issuance will take place in one or more tranches. The funds will be raised on a private placement basis.