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Zen Technologies hit the 5 per cent upper circuit limit at Rs 209.85. Mazagon Dock Shipbuilders advanced 2.2 per cent to Rs 276.70.

The proceeds from the green bonds will be utilised in PSU projects to lower carbon intensivity, FM said

“The Budget is very macro picture, growth-led and high on capital expenditure, infrastructure spending, railways.”

​​The market has a history of trading in a wide range on Budget days. This has been true for the last couple of years.

Analysts at ICICIdirect said this would encourage ethanol blending of fuel and will be positive for sugar companies.

As of 31-Dec-2021, promoters held 0.22 per cent stake in the company, while FIIs held 52.21 per cent and domestic institutional investors had 12.16 per cent.

The stock traded at a P/E multiple of 25.08, while the price-to-book value ratio stood at 2.6.

“It is a bold budget going forward on investment but I do wish something more had been said on much more rapid asset sales, somebody should be taking the hit for very-very slow progress so far.”

On the technical charts, the RSI of the stock stood at 41.32.

The auction of the 5G spectrum in the new fiscal put the telecom services providers, related players and the optical fibre stocks at the sweet spot. Vodafone Idea gained 5 per cent, whereas Reliance Industries and Bharti Airtel were up by a per cent each. MNTL and RCOM were also trading in the green.