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In the spot market, the highest purity gold was sold at Rs 51,838 per 10 grams while silver was priced at Rs 60,670 per kg on Thursday, according to the Indian Bullion and Jewellers Association.

UltraTech Cement Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 181068.79 Crore) operating in Cement sector.

Centrum Broking initiated coverage on Venus Pipes with a target of Rs 764. Venus Pipes is in process of increasing capacity by 2.8x to 33.6ktpa as well as backward integrating by Q1FY24E, which will aid margin expansion.

A total of 2,364 shares changed hands on the counter till 11:11AM (IST).

On the back of improving sentiments driven by easing out of semiconductor supply, gross margin improvement and successful new model launches, auto stocks have been on a high in the last few months. With a rally of around 65% each, TVS Motor and Tube Investments have been the top gainers in the Nifty Auto pack in the last 6 months. M&M is up 53% while Eicher Motors has rallied over 40%.

According to the regulatory submission, the project has to be completed within 24 months, with a trial run of 12 months after the completion of the project. The agreement will be signed in due course.

The Nifty Pharma index was trading 0.47 per cent down at 13126.3.

Promoters held 50.0 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 34.83 per cent and 2.71 per cent, respectively.

The price action suggests that the stock saw value buying at lower levels, and it again rallied to Rs 843 (November 2021). Thereafter, the stock traded between Rs 450 and Rs 850 from November 2021 to August 2022.

A bigger than expected earnings decline could further complicate the picture for U.S. stocks. The S&P 500 is down about 21% this year, with few investors expecting the volatility to end until there are clear signs the Fed is getting the upper hand in its battle against inflation.