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Meanwhile, Hariprasad Kizhakkethara, Sebi registered analyst and Director of Livelong Wealth said, The stock has continuously faced strong rejection from the Resistance Trendline since November 2022. Now, it has given a breakout with a green bullish candle and with good volume also (crossed 50MA on Volumes chart) giving an upside rally by over 20%.

A total of 4,897 shares changed hands on the counter till 11:47AM (IST).

I would still say defence sector definitely it is a plus, no matter if you do not have it, you have to enter sometime, you cannot wait, only thing is when you enter this time just ensure you have firepower on the side that when the time comes do not chicken out, buy more, that is the key point.

India VIX was down by 1.35% from 10.96 to 10.82 levels in the previous trading session. Volatility has been cooling off from the last three sessions and comforting the bulls at support zones.

"We have seen very strong demand coming out of India the past year, in a way similar to many of the other Asian countries. The trajectory is strong and we are expecting it to continue. And in fact, if you are looking at our oil demand projections, India and China are the main leaders of growth, whereas we are expecting a bit more of an economic downturn in the West."

Nomura maintained a buy rating on Torrent Pharma but raised the target to Rs 2199 from Rs 1838 earlier. The potential acquisition of Cipla will be a big deal and it makes strategic sense. The acquisition will require large debt and equity dilution.

"We have been focused on implementing our investment strategy in our maiden AIF fund which has worked in all economic cycles over the last two decades. We categorically reject the idea of “Buy at any Price.” We are among the highest returns performers thanks to our strategy of remaining committed to the idea of not overpaying and avoiding the sense of losing out."

Analysts said that the selling in financial services is due to concerns around net interest margins peaking out, but added it could be temporary due to steady earnings, stable asset quality in the sector and visibility of capex recovery in the economy.

A total of 7,439 shares changed hands on the counter till time (IST).

Tanla Platforms, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 14202.76 Crore) operating in IT Software sector.