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Axis Securities has given ICICI Bank a target price of Rs 1500, citing strong anticipated performance and a potential return on assets of 2.2-2.3%. The bank recently reported a consolidated total income of Rs 72942.55 crore, representing significant year-over-year growth. Despite this positive outlook, a potential slowdown in credit growth due to lagging deposit mobilization is a concern.

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On November 6, five Nifty50 stocks, including Dr. Reddy’s, L&T, TCS, Bajaj Finance, and BPCL, closed above their 200-day moving averages, signaling an uptrend according to technical data from StockEdge.

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Power Grid Corporation reported a consolidated net profit of Rs 3,793 crore in the September quarter, remaining unchanged from the previous year. Revenue remained stagnant at Rs 11,278 crore. Despite the flat growth, the company announced an interim dividend of Rs 4.

Brokerage firms have varied recommendations: JP Morgan rates Apollo Hospitals overweight, Citi downgrades Gujarat Gas, Morgan Stanley is positive on JSPL, while Jefferies gives a buy rating to Polycab.

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A 5-year swing high represents the highest price a stock has reached within the past five years.

The Indian market is expected to open lower on Thursday due to muted global cues. India VIX fell 7.78%, indicating reduced volatility and possible increased investor confidence. Key resistance levels for the Nifty are at 24,600 and 24,800, while support lies at 24,400 and 24,200. Experts suggest select stock recommendations for short-term traders, including Affle India, Atul, and L&T.

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Oil prices saw a slight increase on Thursday, recovering from a sell-off sparked by the U.S. election. Concerns over potential oil supply disruptions due to a Trump presidency and Hurricane Rafael in the Gulf of Mexico overshadowed a stronger dollar and increased U.S. crude inventories.

Four companies have received approval from SEBI for their IPOs. These companies are Rubicon Research, Sai Life Sciences, Sanathan Textiles and Metalman Auto. The IPOs will consist of fresh issues and offers for sale. The companies will raise funds from the public market.

ACME Solar raises Rs 1,300 cr from anchors

Updated at : 2024-11-07 08:25:01

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ACME Solar raised Rs 1,300.5 crore from 58 anchor investors ahead of its IPO, selling 45 million shares at Rs 289 each.

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