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Nifty IT rallied 5% or 1,747 points in the intra-day trade with all 10 stocks trading in the green.

Except for Maruti Suzuki India and Tata Technologies, all other stocks demonstrated positive performance over the last 1 month.

A total of 2,882,292 shares changed hands on the counter till 01:50PM (IST)

Shriram Subramanium says: “Ideally the department should first have sent the demand notice and given the opportunity to the company and then put out the press release, if anything. The company has admitted that during December 22nd to 25th, there were raids on its premises across India, on its dealer networks. But the demand itself is not clear to anybody for that matter.”

Promoters held 63.1 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 27.55 per cent and 2.22 per cent, respectively.

The Relative Strength Index of the stock stood at 58.25 on Friday.

At 12:04 p.m., BTC was trading 0.88% higher at $46,264, while Ethereum was up 1.26% at $2,613. Whereas altcoins, such as Cardano, Avalanche, Polkadot, and Polygon rose over 3%.

Samvardhana Motherson International share price fell 2.32% and open interest saw an increase of 1.94%.HDFC AMC price declined 2.13% and open interest saw a rise of 13.51%.

​Ace Investor Ashish Kacholia has picked up a 1.9% stake in smallcap multibagger Tanfac Industries while Madhulika Agarwal, wife of Mukul Agrawal bought 1.80% in the company in the quarter ended December 31.

Nikhil Nigania, Director at Bernstein, discusses the winners in the power sector and highlights that entities with merchant power plants stand to make the most gains. He compares the current power cycle to the previous one, noting that the current cycle is characterized by specific time-of-day power shortages due to the addition of solar capacity. Nigania also mentions that players investing in thermal capacities, such as NTPC, could be winners.