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The new freight rates finalised with transporters for single axle trucks of 12 tonnes would be Rs 10.30 a tonne per km for Ambuja Cements’ Darlaghat plant and ACC’s Gagal plant as compared to earlier rates of Rs 11.41 for Gagal and Rs 10.58 for Darlaghat units earlier.

The rupee is up 0.1% against the dollar this year and is in the lower pack among Asian currencies, while its high-yielding counterpart, the Indonesian rupiah is up 2.6%. It is closing in on its record low of 83.2912 to a dollar seen in October.

The stock quoted a 52-week high of Rs 430.7 and a 52-week low of Rs 291.65.

The Nifty IT index closed 0.54 per cent up at 31222.35.

“The government has been spending a lot of money on infrastructure and when we say infrastructure, certainly on the building up of roads and highways and that is visible in the order book release in terms of number of projects, in terms of the business gained by the companies. Unfortunately that does not reflect in the consistency of share price performance of these road EPC, civil construction kind of companies. So, that is a challenge for me.”

Trading below all the major moving averages onmultiple time frames.

Promoters held 64.17 per cent stake in the company as of 31-Dec-2022, while FIIs owned 4.15 per cent, DIIs 20.77 per cent.

From the Sensex pack, NTPC, Tata Steel, HUL and Bharti Airtel were the top gainers, rising about 0.5-1.5%. M&M, TCS, Nestle, Tech Mahindra, Infosys and HCL Tech also opened with gains. Meanwhile, Axis Bank, Maruti, ICICI Bank, Kotak Bank and Titan opened with cuts.

“Options data suggests a broader trading range in between 17650 to 18200 zones while a shift in immediate trading range in between 17700 to 18000 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited

A team of analysts from global brokerage firm Jefferies has raised the FY23 earnings estimates for 47% of 147 companies under its coverage network. Downgrades were made to 46% of companies, resulting in higher upgrades than downgrades for the first time in five quarters.