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United Spirits shares gain 0.71% as Sensex falls

Updated at : 2024-09-09 11:20:02

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A total of 5,469 shares changed hands on the counter till 10:19AM (IST)

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As of 30-Jun-2024, promoters held 44.78 per cent stake in the company, while FIIs held 27.41 per cent and domestic institutional investors had 10.36 per cent.

We have also seen from many European car makers in terms of statements that they are slowing down the EV transition path as the adoption remains lesser than expected. So, I think that is a concern for pure EV players at this stage. So, broadly automakers who are across the traditional autos and EVs combined I think they are in a better position.

In an exchange filing, the company stated, "Deep Industries Ltd (DIL), a leading integrated solutions provider for oil and gas field operations, has secured a significant order valued at Rs 1,402 crore from ONGC."

Citi has issued a sell rating on Tata Tech with a target price of Rs 945, citing uncertainties related to VinFast revenues and client concentration. Jefferies has set a base case target of Rs 335 for Zomato, anticipating strong growth in delivery revenue. UBS recommends buying Shriram Finance, raising the target price to Rs 3,850 due to higher growth visibility.

The Indian market is expected to consolidate on Monday due to weak global cues. The Nifty future closed with a 1.30% loss on Friday, and India VIX rose by 6.49%. Analysts suggest a broader trading range between 24,400 to 25,300 zones. Several stock recommendations are provided for short-term traders.

The stock is currently trading above all its long-term moving averages, indicating a strong upward trend but the word ‘healthy’ is used because it keeps having regular pull backs which are short before starting the next up move.

Indian equity indices opened lower for the fourth consecutive session on Monday, influenced by losses from Asian peers and concerns over the U.S. economy following weak jobs data. The BSE Sensex and Nifty50 saw declines, with Tata Steel and Power Grid among the losers, while HUL and ITC gained. Sectoral indices except FMCG, IT, and Realty also dropped.

Gold October futures opened flat at Rs 71,505 per 10 grams on MCX, while silver December futures traded at Rs 83,049/kg. Gold and silver prices fell last week amid mixed U.S. economic data and ahead of U.S. CPI inflation data. High volatility is expected this week.

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