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Accelerated growth, steady margins and lower credit cost are expected to drive RoA further. Thus the stock, long due for re-rating, should see strong positive momentum.

The global cryptocurrency market cap was trading marginally higher, around $815 billion, rising less than a per cent in the last 24 hours. The total trading volume increased by 16% to $29.47 billion.

The Nifty Pharma index was trading 0.4 per cent up at 12943.95.

The stock traded at a P/E multiple of 98.28, while the price-to-book value ratio stood at 19.49.

Jindal Stainless key Products/Revenue Segments include Steel, Sale of services, Export Incentives, Job Work and Other Operating Revenue for the year ending 31-Mar-2022.

The net proceeds from the issue will be utilised towards funding working capital and capital expenditure requirements and for the purchase of specially fabricated armoured vans, other than general corporate purposes.

“L&T has run up and obviously, if the technology derating happens, there could be some impact but I would think that L&T performs more on the behaviour of the core business; the kind of deleveraging they are doing and the fact that on the defence side, their foray seem to be fructifying significantly.”

A total of 210,077 shares changed hands on the counter till 11:47AM (IST).

“The global market backdrop continues to be weak due to the strong economic data from the US. The paradox of good economic news turning out to be bad news for markets is playing out. Data from US on consumer confidence, jobless claims, and Q3 GDP numbers surprised on the upside, indicating continuation of the hawkish monetary stance from the Fed,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 64715.51 Crore) operating in Financial Services sector.