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“There is a tactical pullback in global denominated fintech and consumer tech business. Maybe a 10-15-20% move can be expected in some of the names but core allocation will have to be with largecaps, particularly sectors that have delivered well this year and where there is a growth visibility. That could be banks, auto, cement and the domestic-oriented consumption plays.”

The project, Development of UTF (Uthuru Thila Falhu- Island) Harbour, is a strategic project of the Indian government. The estimated project cost is Rs 1,544.6 crore.

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“We remain selective with OW (overweight) on the banking sector, given it is trading near its 10-year mean NTM P/B, with improving credit growth and stronger and cleaner balance sheets with low FII positioning,” the brokerage said in its report.

Gold prices rose amid weakness in the dollar and on some safe-haven buying after a missile struck a Polish village near the country’s border with Ukraine killing two people, said ICICIDirect Research.

RPG stock price started its up move from Rs 45 recorded in February 2014. The stock made a high of Rs 607 in January 2018 and continuously took the support of averages in its uptrend.

The e-commerce company earlier announced a bonus share issue in the ratio of 5:1, which means that existing shareholders got five shares against every one share held as of the record date i.e. November 11, 2022.

The stock of TCNS Clothing in the last one year has fallen close to 25% and is currently trading 35% lower from its 52-week high of Rs 932.55. Rs 686 is the average estimated target price for the stock, shows Trendlyne data.

“We might see a pullback of maybe 10, 15, 20% in the new age stocks because they are high beta companies but we do not see them as companies where you can see a meaningful growth in stock prices or financial performance. So trade with caution and trade for maybe a 10, 15, 20% move. That’s about it.”

ALGO is up by over 12% in the last 24 hours due to increased interest from investors and the momentum is expected to sustain if overall macroeconomic factors remain favourable.