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The Nifty Pharma index closed 0.15 per cent up at 13186.3.

Several stocks, including Tube Investments of India, CG Power and Industrial Solutions, Apollo Tyres, Union Bank of India, and IDFC First Bank, have demonstrated impressive recoveries of over 100% from their 52-week lows. These rebounds demonstrate the resilience and potential for growth of the companies, showcasing their ability to navigate market uncertainties and adapt to changing dynamics. These rebounds hold significance in the context of the Nifty Midcap100 stocks and are an indication of sustained profitability and growth.

Kotak Strategic Situations India Fund II and Kotak Private Credit Fund have jointly invested INR 732 crore ($107m) in non-convertible debentures (NCDs) issued by RattanIndia Power (RIPL). The financing will aid the company in repaying existing debt. Kotak Strategic Situations India Fund II invested INR 582 crore and Kotak Private Credit Fund invested INR 150 crore. According to Srini Sriniwasan, MD at Kotak Investment Advisors, “the financing provided by our credit funds to RattanIndia underscores our ability to move with agility and provide timely structured financing.

ETMarkets, utilizing their screener, has curated a list of five stocks displaying the Bearish Strong Line pattern, indicating a potential reversal in an uptrend. Dive into this interactive and informative article to gain insights into these companies and their business prospects.

Seven Indian companies, including defense contractor Hindustan Aeronautics, electrical and digital services company Siemens and natural resources company Vedanta, have recently experienced a bearish MACD crossover, a technical indicator that helps investors identify potential bearish trends in the stock market. The bearish signal suggests that the upward momentum of a stock is weakening and may signal a downward trend.

Several Nifty 500 stocks including UCO Bank, Uflex, V-Mart Retail, YES Bank, and Zee Entertainment Enterprises (ZEEL) are trading at a significant discount from their 52-week highs, with potential investment opportunities based on placement on the technical charts and current momentum. Despite discounts, the companies include strong players such as accomplished retail chain V-Mart Retail, banking institutions YES Bank and UCO Bank, and leading media and entertainment company ZEE. Before investing, careful analysis and consideration of individual investment goals are recommended.

Mutual funds have bought shares in Infosys, with ICICI Prudential AMC purchasing Cognizant Technology Solutions, Aditya Birla Sun Life AMC purchasing Wipro, and Mirae Asset Management buying Coforge last month. Although the mutual funds were inclined to overweight on the IT sector, risks of further earnings downgrades remain. While some investors argue that a slowdown is already priced into the shares, a weak earnings outlook from US major Accenture Plc persists, which quoted challenging global macroenvironment, clients curbing discretionary spending, and reduced annual growth guidance for the second time.

There are approximately 16 stocks that witnessed a net addition of over 1 crore shares in May.

Shares of Aurobindo Pharma went up by 3% after the company announced that its subsidiary Eugia Pharma has signed a voluntary license with Medicines Patent Pool to create and market a generic version of Nilotinib Capsules. Aurobindo Pharma’s wholly-owned subsidiary Eugia Pharma Specialities has entered a voluntary sublicensing agreement with Medicines Patent Pool to manufacture and market the drug in 44 low and middle-income countries for the treatment of chronic myeloid leukemia.

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