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Ambani – who is now the eighth richest in the world -- replaced Gautam Adani, who slid to the ninth position. Ambani is worth $99.7 billion while Adani is worth $98.7 billion as of Thursday, according to the Bloomberg Billionaires Index

The Relative Strength Index of the stock stood at 45.27 on Friday.

A total of 7,852 shares changed hands on the counter till 01:55PM (IST).

“We continue to remain below the same positions in IT we had somewhere late last year but otherwise, in this year, we have not changed much. It is not that we will not change; we keep evaluating depending on the valuations and how they evolve, but so far. we have not changed that.”

One such name is Solana, a highly functional open-source project providing decentralized finance (DeFi) solutions. The token is about 85 per cent below its all-time peak of $260. It was trading at $38-odd levels on Thursday, the coinmarketcap data suggests.

With a market capitalisation of more than Rs 3,400 crore, the shares are trading above the short-term moving averages of 5, 10, 20-DMAs but below 50, 100, 200-DMAs.

The stock saw heavy demand from investors, zooming another 10 per cent to Rs 776.75, taking the entire gains to 21 per cent over the issue price. On NSE too, it hit the upper circuit.

Birla Corporation Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 7313.97 Crore) operating in Cement sector.

“Auto companies are the big beneficiaries of softer metal prices. One could look at appliance companies, industrial companies, engineering, construction and real estate. The strategy has to be to go for companies which benefit now from lower commodity prices rather than going after the commodity players whichever sector they may be in.”

UltraTech Cement has announced plans to add 22.6 mpta of capacity which would be nearly 17 per cent of its capacity post completion of projects on-hand by FY25. The cement maker, analysts said, had already hinted at plans firming up towards organic expansions and therefore the new capex announcement does not come as a major surprise.