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“This year it is expected that annual sales volume of the industry will be about 41 lakh and one can expect sales of 10 lakh units in the festive season. The beginning has been good and we are hoping that this trend of strong demand will continue going forward. As for the model, we are seeing a lot of traction on the SUV and MPV front.”

A total of 10,032 shares changed hands on the counter till time (IST).

India is one of the most attractive and the fastest-growing alcoholic markets in the world, and the third largest after China and the US in volume terms. Not only has the sector grown in terms of business, but even the share prices.

Short-term traders can look to buy the stock for a possible target in the range of 300-360 in the next 2-3 months, they say.

The bank has a strong management team and a well-articulated strategy aimed at delivering 18% sustainable RoE and the brokerage estimates RoA to recover further aided by steady loan growth.

Over the past decade, India has witnessed a remarkable transformation, particularly in the aftermath of the COVID pandemic. Notably, the nation has surged into the top five global economies from thirteenth in the year 2000.

Tata Steel shares witnessed a strong buying action in the opening trade with over 1.22 crore shares trading on the NSE in the early trade. It was also one of the top Nifty50 stocks.

The YoY growth of both Indian pharma companies and MNCs experienced a revival in July ’23. Indian pharma companies grew 7% YoY, while MNC pharma grew at a modest rate of 5% YoY in July ’23. Growth was majorly driven by price hikes.

Among Sensex stocks, Tata Steel, JSW Steel, L&T, NTPC, and UltraTech Cement opened with gains, while ICICI Bank, Titan, HUL, Asian Paints and Nestle opened with cuts.

Ratnaveer will not receive any proceeds from the OFS portion. From the fresh issue, net proceeds will be used to fund the working capital requirements and residual funds will be utilised for general corporate purposes.