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Piramal Pharma is currently trading at valuations of 31.4 times FY23 estimated earnings and 17 times FY23 estimated EV/EBITDA.

Since we don’t know if this year will be that bumper year or that bad year, the most rational thing to do, if we have a long-term horizon is to remain invested.

Under the new rule, the target company will be deleted from the index a day before the ex-date in case of a merger

The Dow Jones Industrial Average rose 60.3 points, or 0.18%, at the open to 33,606.59

Also, the Pune-based real estate firm allegedly did not disclose amendments to the Memorandum of Association (MoA) and Articles of Association (AoA) within 24 hours from the passing of the shareholder resolution in March 2019 and allegedly failed to comply with rules pertaining to independent directors and it allegedly did not have a minimum number of independent directors in the audit committee.

Earlier in FY22, the miner announced Rs 45 per share dividend. At the current price, this amounts to a dividend yield of 14.55%. Since 2001, the company has announced a total of 36 dividends, Trendlyne data showed.

“Nifty has to hold above 18,250 zones for an up move towards 18,444, then 18600 zones, whereas supports are placed at 18,188 and 18,000 zones," said Chandan Taparia of Motilal Oswal. Analysts said the positive chart pattern, like higher tops and bottoms continued on the daily chart, and Nifty is currently in line with the formation of a new higher bottom formation.

Among Sensex stocks, M&M, NTPC, Bajaj Finance, Maruti, IndusInd Bank and Bharti Airtel were the top losers in today’s trading, falling about 1-2.4%.

Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said, gold inched higher after a fall in the previous session.

The rupee declined to 81.6850 from 81.65 in the previous session, taking its losses for the week to 1.1%. The rupee fell each day this week, except for a slight uptick on Tuesday.