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Shares of Genus Power Infrastructures soared over 15% after the company secured a Rs 2,207.53 crore order for the design, installation, and commissioning of 27.69 lakh smart prepaid meters. Jitendra Kumar Agarwal, Joint MD of the company, said the order win provides added revenue visibility for the coming years and signals a strong start to order inflow in FY24. The implementation of the Revamped Distribution Sector Scheme (RDSS) is expected to have a significant impact on the Indian metering industry. The stock has surged 67% year-to-date.

The Nifty Pharma index was trading 0.02 per cent down at 13610.9.

Shares of Hero MotoCorp, a 2-wheeler manufacturer, rose 3% after it launched the co-developed premium motorcycle, Harley-Davidson X440, in India. This marks the first entry of Hero MotoCorp and Harley-Davidson into the 440cc segment in India. The motorcycle will be available in three variants and is priced competitively. Analysts believe this move by Harley-Davidson could help it gain a significant market share in the premium segment. Initial sales are expected to be around 3-4k units per month, with potential to ramp up to 5-10k units per month in the future.

The rupee stood at 273 to the dollar compared with the close of 285.99 on June 27. Markets were shut for the Eid holidays last week and a bank holiday on Monday.

“IndusInd Bank’s underperformance of previous years have stabilised in the last four-five years. Time has probably come for them to register a decent growth if not better from current levels which would be somewhere around 20% average growth that they will be continuing to produce for at least next three-four years. One can remain a little bit more positive than before.”

A total of 10,170 shares changed hands on the counter till 11:28AM (IST).

Indian benchmark Sensex has risen 150% since March 2020 with 25 of its constituents turning into multibaggers. Tata Motors, Tata Steel, and Titan Company have outperformed the index, with Tata Motors seeing the best returns, multiplying its value more than 8 times. Mahindra & Mahindra and Maruti Suzuki India also turned multibaggers due to pent-up demand for four-wheelers and a shift towards premium categories. Banks like State Bank of India, Axis Bank, ICICI Bank, and IndusInd Bank have also outperformed, whereas the IT sector, except for HCL Technologies and Infosys, has seen multibagger returns. Bullish investors expect steady returns in 2023, particularly in domestic-oriented sectors.

HMA Agro Industries, a major player in the export of packaged frozen buffalo meat, saw its shares listed at a premium on the NSE and BSE, with a strong response from non-institutional investors and qualified institutional buyers during its IPO. Despite subdued interest from retail investors, the IPO was fully subscribed. The company plans to use the proceeds to fund working capital requirements and for general corporate purposes. HMA Agro is also diversifying into other food processing and export products, such as frozen fish and basmati rice.

Buying demand emerging after base above the recent breakout area and 20 days EMA.

The stock quoted a 52-week high of Rs 1791.6 and a 52-week low of Rs 1080.0.