L&T Infotech, which is the IT services unit of engineering giant Larsen & Toubro, had raised Rs 372.75 crore by allotting 52.5 lakh shares to 22 anchor investors at the upper end of the price band separately.
Incrementally, people are turning positive on the sector hoping that the worst is behind,” said Rikesh Parikh, vice-president, equities, Motilal Oswal Securities.
The company’s business performance will have to catch up significantly to drive any further upside in the stock, the brokerage added.
Monday’s rally caps a 4.7% rise for the Sensex and Nifty since June 23 when the British public voted to exit the European Union.
The government in Kerala proposed a slew of new tax proposals in its budget for 2016-17, including a 5 per cent tax on certain packed foods and the ‘fat tax’.
Citigroup Global Markets India, Kotak Mahindra Capital Company and ICICI Securities are the book running lead managers to the issue.
Positive on companies that are an indirect play on the renewable energy, railway and defence sectors and says export-oriented segments of textile sector and companies catering to domestic consumption theme are also looking good
The Nifty Bank index closed above the 18,000-mark for the third straight day on Thursday, rising 0.4 per cent to close at 18,084.90.
Nomura said solid earnings growth outlook, healthy balance sheet and imminent free cash flow generation peg CESC amongst the better placed independent power producers in India.
In the case of Brexit, clearly, there is going to be a negative impact on the UK and contagion effect on Europe, but there is no ground to be nervous about markets like India, he says.
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