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A total of 133,023 shares changed hands on the counter till 12:19PM (IST).

Aarti Industries, incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 20041.04 Crore) operating in Pharmaceuticals sector.

HDFC Life Insurance shares surges to Rs 554.6 after the Reserve Bank of India permitted HDFC Ltd or HDFC Bank to hike their shareholding in HDFC Life and HDFC ERGO above 50% before the effective date of the merger. HDFC Bank CFO Srinivasan Vaidyanathan states that there were no guidelines on whether this action had to be achieved through fresh fund infusion or purchases from the market.

The stock quoted a 52-week high price of Rs 112.8 and a 52-week low of Rs 83.0.

The Nifty Bank index was trading 0.58 per cent up at 42362.2.

Brokerage Sharekhan estimates the topline to decline 11% quarter-on-quarter, while margins are seen contracting by 72 bps. However, revenue is expected to rise on a year-on-year basis, led by higher ASP on the back of a higher share of three-wheelers in the product mix.

"For markets to move higher, we need to be convinced that the interest rate cycle has peaked out. Once I am convinced about that. There are still people who doubt that because of the RBI commentary, but I think the bar for them to increase rates further is so high now that it will be virtually impossible for them to do that. So that should be supportive overall."

Ipca Laboratories, a pharma company, is a potential buy as it has recorded a breakout from a falling trendline resistance and a Cup & Handle formation. Short-term traders can buy the stock, which has risen over 2% in a week and more than 7% in a month, with a possible target towards Rs 900 level in the next few weeks. Experts suggest placing a stop-loss below Rs 800 on a closing basis. The stock is trading above short-term moving averages on the daily chart and has a Relative Strength Index of 65.8.

On the technical charts, the 200-day moving average of the stock stood at Rs 1347.61.

A total of 6,739 shares changed hands on the counter till 11:48AM (IST)