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GIFT Nifty is nearing 23,900, with key focus on share prices of Bharti Airtel, Nestle, Mazagon Dock, and IndiGo. Gravita India Ltd. has successfully completed its qualified institutional placement, allocating 47.8 lakh shares at an issue price of Rs 2,096.2, reflecting a 5% discount to the floor price of Rs 2,206.49.
Defence and shipbuilding stocks have surged up to 5% following a bullish call from JPMorgan, which highlighted attractive buying opportunities in the sector. Bharat Dynamics and BEL saw increases of 5% and over 2%, respectively, while HAL rose nearly 2%. The Nifty India Defence index has gained close to 5% in the past month, with notable double-digit increases for MTAR Tech (+18%), DCX India (+10%), and Paras Defence (+11%).
JPMorgan has initiated an 'overweight' rating on Hindustan Aeronautics and Bharat Electronics, citing strong growth prospects in defense production and exports. Following a significant stock price correction of 14-28% from recent highs, the firm sees this as an opportunity to invest at lower valuations. It has set a price target of Rs 340 for Bharat Electronics, indicating over 16% upside potential.
Mazagon Dock Shipbuilders saw its shares rise over 3% following a robust Q2 performance, reporting a 76% year-on-year increase in net profit to Rs 585 crore. Revenue surged 51% to Rs 2,757 crore, while EBITDA climbed to Rs 510 crore from Rs 176 crore in the same quarter last year. The stock peaked at Rs 4,327.95 during trading.
Mazagon Dock Shipbuilders Limited
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
gravita india completes institutional placement raising funds at discounted price
20:44 19.12.2024
defence and shipbuilding stocks rise as investor interest rebounds
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Cochin Shipyard Limited
DCX India
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BEL
Mazagon Dock Shipbuilders Limited
GRSE
Bharat Dynamics Limited
MTAR Technologies Limited
Paras Defence
IND
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06:18 27.11.2024
JPMorgan sees growth potential in defence stocks after recent price corrections
Bharat Electronics Limited
Hindustan Aeronautics Limited
Mazagon Dock Shipbuilders Limited
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03:45 26.11.2024
mazagon dock shares rise 3 percent after strong quarterly profit report
05:31 06.11.2024
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