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The Nifty Pharma index was trading 0.85 per cent up at 13869.05.

The DBP has cleared the acquisition of three additional Scorpene submarines, extending the current line of boats under construction. These submarines will be more advanced versions of the current class of boats built by the yard - five have been delivered, and the sixth is expected next year.

The stock quoted a 52-week high of Rs 873.57 and a 52-week low of Rs 408.97.

Well, we are very closely looking at the metal space. I think this is more of a contra view, I would say, because not many market participants are too excited about it. But the way we read the charts, I think a special move is coming. We are already seeing JSW Steel do so well, trading at lifetime highs and clearly good for a lot more.

India VIX was down by 0.59% from 11.53 to 11.46 levels on Monday. Volatility sunk lower and is hovering near its lower band which may support the bulls near immediate support zones. On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes while the maximum Put OI is placed at 19400 and then towards 19300 strikes.

So, people were not very confident that Foxconn is a serious player. And secondly, Vedanta itself is going through a lot of financial issues. They do not have the wherewithal or the funding to be able to do this kind of big project. So, this thing was a non-starter from day one and it does not come as a surprise at all that this has been called off.

Sector-wise, Nifty Auto surged 0.76% and Nifty Financial Services rose 0.56%. Banks, FMCG, pharma, realty, consumer durables, and healthcare sectors also opened with gains. In the broader market, Nifty Midcap 100 rose 0.43%, and Nifty Smallcap 100 gained 0.39%.

Brokerages see a strong potential for value unlocking in these companies, which includes Landmark Cars and Avalon Technologies, with a targeted upside of up to 28%.

The watchdog, in a coordinated operation with other law enforcement agencies, inspected 34 locations suspected of hosting crypto ATMs since the start of this year and "disrupted" 26 machines.

Historically, the June quarter is the strongest period for the information technology sector, but this time around, it is expected to be weak given the slowdown in discretionary spending by clients in key markets and verticals.