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"The next few quarters may certainly be very good for pharma companies. But these are no longer the secular growth stories which we have pursued back in the 2000 or 2010 era, when companies like Sun Pharma, Lupin, Dr. Reddy, Cipla were easily growing at 20% plus," says Dipan Mehta.

A possible stake sale of its 44% holding in Adani Wilmar will help Adani Group free up capital for its core businesses, Bloomberg reported last night saying that Wilmar, the Singapore-headquartered food conglomerate co-founded by billionaire Kuok Khoon Hong in 1991, could decide to retain its stake in the business.

On the technical charts, the RSI of the stock stood at 56.27.

​ This is a bearish indicator that shows the futures OI has increased while the price has decreased. ​

The U.S. dollar index - which measures the currency against the euro, yen and four other counterparts - was little changed at 102.50 in the Asian morning, following a 0.47% rise in the previous session.

“Options data suggests a broader trading range in between 19000 to 20,000 zones while an immediate trading range in between 19,300 to 19,700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

BofA Securities is OW on financials (cheap valuations, low risk of large earnings cuts), industrials (strong capex/real estate upcycle), select autos (passenger & commercial vehicles on volume growth as well as margin expansion) and healthcare (better pricing in the US, strong India/specialty business).

​So I think the situation right now would demand greater importance to what is going to happen soon. Maybe a mild recession is definitely in the books.

Bank of India, incorporated in the year 1906, is a banking company (having a market cap of Rs 35372.74 Crore).

From the Sensex stocks, ICICI Bank, Maruti, HCL Tech, Wipro, HUL, and Reliance Industries opened in the red, whereas Sun Pharma, NTPC, Power Grid, Titan, Bajaj Finserv, and Nestle opened higher.