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The rating upgrade buoyed the sentiment for the stock, as it rose over 4% to Rs 233.90 on the National Stock Exchange (NSE). CLSA’s 1-year target price for the stock is Rs 300.

The 30-share Sensex ended 177 points higher at 62,682, while its broader peer Nifty 50 ended above the 18,600 level after touching a new peak of 18,678

The rupee has been caught in a narrow range of late, while intraday and overnight volatility have both been low. The last time the rupee managed an intraday range of more than 30 paisa was about two weeks back.

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"Gold fell to the lowest level in more than a week as the dollar rose from session lows on hawkish comments from members of the US Federal Reserve reiterating their fight against inflation," Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 275200.32 Crore).

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A sale would help Gland’s Chinese owner raise cash as the once-acquisitive group seeks to shore up its balance sheet. Fosun International has been exploring options for a number of assets, including French resort operator Club Med and some domestic food and beverage operations, Bloomberg report added.

A total of 5,160 shares changed hands on the counter till time (IST).

Food delivery order growth of 38% YoY lagged GMV growth of 40%, indicating a rise in AOVs, a trend Zomato witnessed as well. In comparison, Zomato posted 1HCY22 GMV and revenues of $1.5 billion (up 56% YoY) and $328 million (up 71% YoY) for the food delivery business.