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The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Abakkus Asset Manager is positive about the infrastructure and construction sectors, seeing growth fueled by a combination of award and tendering activity. The next 12 months could offer good visibility and because of coal price declines and lower cement prices, there is minimal risk to margins. When the market changes style towards growth stocks, Abakkus specifies they are value conscious investors who are willing to pay a premium if it is justified.

Hindalco shares have underperformed not just the Nifty50 but also the Nifty Metal Index in the last one year. It has declined 32.8% as against a 1.4% fall seen in Nifty50 and 13.06% in Nifty Metal, according to the data sourced from Trendlyne.

Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 89618.12 Crore) operating in Metals - Non Ferrous sector.

They include stakes in Brazilian digital lender Nubank, whose U.S.-listed shares are known as Nu Holdings, and more than 5% stakes in five Japanese trading houses: Itochu Corp , Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp.

After a long correction, eventually, the stock took support near 162 and bounced back sharply. On Thursday, it rallied over 10% and also formed a long bullish candle on the daily charts which is broadly positive.

Barclays has raised India’s growth forecast for next fiscal to 6.3% from 6%, saying that global developments such as rising financial stability risks, peaking of rate tightening around the world and collapse of commodity prices augur well for the world’s fifth-largest economy. “Having weathered many shocks to its macro stability in 2022, India is on firmer ground in 2023; current-account funding needs are falling, inflation is trending lower, and fiscal demands are in check,” Barclays said in a report.

According to multiple sources aware of the development, Vedanta Resources has reached out to sovereign wealth funds (SWFs) and and alternative asset managers from the Gulf including Abu Dhabi’s Mubadala, ADQ, Bahrain’s Investcorp, and Saudi Arabia’s Public Investment Fund (PIF) for up to 10% dilution in the company

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"Central banks have already delivered the interest rate rises following the recent banking turmoil," said Carol Kong, a currency strategist at Commonwealth Bank of Australia, adding that currencies would continue to be driven by headlines on the banking sector.