Stocks in Focus Today: Nifty has come up from its low level but still it is far away from its record high. According to Nagraj Shetty, Technical Research Analyst, HDFC Securities, Nifty is moving up and down in the range of 17550-17600 and a move up at this level will be a positive sign for Nifty jump. According to Shetty, in the short term, Nifty will move up and down in a limited range with support levels of 17400-17380. During the business today, focus will be on Tega Industries, Vedanta, Antony Waste Handling Cell, PSU Bank, Gati and Cadila Healthcare. Out of this, today is the first day on the stock exchange for Tega Industries. Its IPO received an overwhelming response from investors and was subscribed 219.04 times.
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Tega Industries
Shares of Tega Industries have opened on domestic stock exchanges today. Its IPO received an overwhelming response from investors and the Rs 619 crore issue was subscribed 219 times. The portion reserved for all categories was oversubscribed.
Vedanta
Anil Agarwal-owned Vedanta on Saturday announced the second interim dividend. The Board of Directors of the company has approved an interim dividend of Rs 13.50 per share which is 1350 per cent higher than the face value of Re 1 in the financial year 2021-22. 5019 crores of the company will be spent on this.
Antony Waste Handling Cell
Antony Waste Handling Cell has informed the stock exchanges about the new contract awarded to its material subsidiary AG Inviro Infra Projects Pvt Ltd. According to the information, AG Enviro has received letter of intent from the Sadar Paharganj zone of North Delhi Municipal Corporation for door-to-door collection of solid waste and then to the disposal site and for the contract of equipment/machinery operation and maintenance.
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PSU Bank stocks
According to news agency PTI, there is no possibility of capital investment in public sector banks in the budget for the next financial year. In the current financial year, the government has earmarked 20 thousand crore rupees for the recapitalization of PSU banks.
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Gati has set a target of becoming a Rs 3 thousand crore company in Micro, Small and Medium Enterprises (MSMEs) and Business-to-Business (B2B) retail within three years. Gati’s chief executive officer Pirojshaw Sarkari said the company has identified three key areas to achieve this goal, including engaging talent and building infrastructure.
Cadila Healthcare
Zydus Cadila’s subsidiary Zydus Pharma has received tentative approval from the US FDA for the sale of Cariprazine Capsules. The drug will be manufactured at the group’s formulation manufacturing facility located in SEZ, Ahmedabad.
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