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From the Sensex pack, Infosys, HCL Tech and Tata Motors opened with over 1.5% gains. UltraTech Cement, L&T, Tata Steel, HDFC and Wipro also opened higher. Meanwhile, Bharti Airtel, TCS, NTPC and Sun Pharma opened with cuts.

Several public sector banks were part of this list despite seeing a stellar run in 2022. The strong improvement in earnings and asset quality, coupled with credit growth triggered buying in this pack last year and also turned some of the stocks multibaggers.

The global economy is still in a state of flux, with banks still struggling to settle down. This has led to a lack of credit availability, which is affecting the metal and commodity industries. This has caused the prices of these stocks to fall, and they are currently in a flat-line state. However, until the banks settle down, it is difficult to say whether the market is at the bottom or not. The outlook for the metal and commodity industries is still uncertain.

The company has also signed an agreement with the Uttar Pradesh government to set up a steel manufacturing facility in the state at an investment of Rs 510 crore.Besides steel pipes, the company also produces hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures and a variety of other galvanised products

The Relative Strength Index of the stock stood at 45.78 on Friday.

Eris Lifesciences, incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 7871.82 Crore) operating in Pharmaceuticals sector.

Volumes have been scaling up, driven by an uptrend in option volumes and recommencement of mini contracts.

The stock rallied from Rs 180 as on 28 February 2023 to Rs 217 recorded on 15 March which translates into an upside of about 21%.The recent momentum helped the stock to hit a fresh 52-week high of Rs 233.50 on 13 March 2023

While exits are possible, it must be pointed out that Krithivasan was a clear frontrunner in case Rajesh ever wished to step down. The question that we have been asked is why appoint Krithivasan when age is not on his side; after all, Krithivasan is 57 years old

“Amidst the intense tug of war, the Nifty50 index concluded the weekly expiry session on a subdued note, with mere gains of 0.08% and settled a tad below the 17000 mark,” Chavan said.