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The Japanese government said on Wednesday the country would restart more idled nuclear plants and look at developing next-generation reactors. Nuclear power-related shares had a mixed day, with IHI giving up early gains to close down 0.28%, while Hitachi Zosen added 2.28% and Mitsubishi Heavy Industries rose 0.58%.

The stock traded at a P/E multiple of 31.77, while the price-to-book value ratio stood at 2.91.

Shares of Rama Steel Tubes were locked in the upper circuit as they zoomed 5 per cent to Rs 115 on Thursday. The scrip had settled at Rs 109.55 on an adjusted basis.

“There is a good possibility that the Nifty is heading for not only a new lifetime high but 20% return from current levels which comes to approximately around 21,000 on the Nifty. We are bullish on the Nifty with a 6-12 month timeframe and we believe that in this rally, the leadership will come from banks, auto, FMCG, capital goods and may be IT as a big reversal play.”

Over the last 23 years beginning FY 2000, DIIs have invested $90.6 billion in the Indian equity market. The report pointed out that a large part of the DII flows ($86.7 billion) was recorded over the last eight years (FY16-23YTD).

It is hard to be aggressive with any positioning until we hear from Powell on Friday. A slower global growth environment is not going away anytime soon and now we are clearly seeing broader signs of weakness for the US economy, said Edward Moya, Senior Market Analyst, The Americas OANDA.

The company currently holds a 100 per cent stake in Paisabazaar and it will invest Rs 250 crore in the subsidiary during FY22-23 to meet its general operating expenses and enhance brand awareness, office presence and strategic initiatives.

“Rakesh Jhunjhunwala invested in Nazara in early 2018 and I still remember meeting him in his conference room. It was a fanboy moment for me because he was the Sachin Tendulkar of the stock market in that sense. His focus always was, be clear on your strategic focus and dominate whichever space you operate in. ”

Promoters held 29.33 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 48.48 per cent and 7.64 per cent, respectively.

Novartis rose 0.8% after saying it would spin off Sandoz and list the biosimilars unit on the Swiss stock exchange to create the No.1 European generics company and a more focused parent group.