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The Nifty IT index gained around 400 points, or around 1%. All 10 constituents are in the green, trading up to 3% higher.

The rally comes after US Fed’s 25 basis points rate cut, which is generally seen as a positive for the IT company valuations.

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Greaves Cotton launches Magnus Grand, upgraded family scooter with advanced LFP battery tech

Supreme Industries Seeks IOD & Building Permissions For Panvel Projects With Estimated GDV Of Over Rs 2,500 Crore

From Poonawalla Fincorp to SEPC, these ten stocks among the midcap and smallcap names are surging on very high volumes during Thursday’s trading sessions.

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Shipbuilding stocks rise as investors track government’s push to expand nation’s maritime might

Seshaasai Tech has set a price band of ₹402–423 apiece for its IPO, which will open for subscription on September 23.

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EaseMyTrip has partnered with Hoi to launch a smart rewards ecosystem, redifining airport dining

Thyrocare Promoter Releases Pledge On Entire 71.06% Holding In Company

A total of 36 of the 50 Nifty stocks are trading with gains.

Here are the top gainers:

Nuvama has retained its ‘buy’ rating on the stock and has a price target of Rs 630 per share.

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Here are a couple of stock recommendations by Sacchitanand Uttekar, VP- Research (Derivatives & Technicals), Tradebulls:

Buy Adani Energy Solutions for a target price of ₹896-900 with a stop loss of ₹822

Buy Oberoi Realty for a target price of ₹1,750 with a stop loss of ₹1,662

Vivek Chaand Sehgal To CNBC-TV18: Motherson Group to CNBC-TV18:

Have Come Out With A Very Audacious 5-year Plan And We Always Make It Possible

Lot Of Carmakers Are Asking Us To Start Producing Cars For Them In Niche Areas

We Have Been Assembling Machines, Components & Have No Problem In Making Cars

As Soon As A Customer Tells Us To Make Cars, We Will Begin Doing So

Have Done 44 Acqns To Date & Believe That Acqns Are Better Than Joint Ventures

Have Many Cos In-line For Demerger & Will See Things Unfold Very Quickly

Not Worried About Challenges, Doubled Turnover Even During Lehman Brothers Crisis

Lavina Quadros, Jefferies India On CNBC-TV18 Says:

Budgeted Capex Growth Is Implied At 8–10%

Opportunities Remain In Select Pockets Like Power, Housing & Data Centres

Broader Pvt Sector Capex Will Take Time, Needing Invst In Cement, Steel, Oil & Gas & Infra

Data Centres Are An Interesting Area, Benefiting Automation & Power Equipment Plays

Conrad Saldanha, MD & Portfolio Manager at Neuberger Berman, said the US Fed’s 25 bps rate cut, while not indicative of a super dovish stance, provides a positive backdrop for emerging markets.

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Apollo Tyres’ Vice-Chairman and MD Neeraj Kanwar isn’t losing sleep over the so-called “sponsor jinx” that has followed past Indian cricket team jersey partners such as Sahara, Byju’s and even Dream11.

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Sanjay Mookim, JP Morgan Says:

India Earnings Expectations Were Cut Early In H1

Base For Earnings Now Looks Far More Favourable

Maintain Overweight On Emerging Markets

Only Few Companies Will Deliver Double-digit Growth

No Sign Of Any Disinterest In Indian Equities

India Is Trading At A 10% Discount To The S&P Index

We Think There Will Be Margin Pressure For Large Bank

Volume Outlook Is Expected To Improve Over The Next 2–3 Years

Forecast Real GDP Growth Of 6.5-7% For This Year

Nifty Bank is up nearly 300 points at the moment.

The index has been in the green for 12 straight sessions.

Barring Axis Bank and Kotak Mahindra Bank, the remaining 10 stocks in the index are trading with gains.

Indian Hotels offered no comments on CNBC-TV18’s query.

Brokerage firm HSBC has a price target of ₹41,040 per share on Page Industries. It has downgraded the stock to “reduce”.

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SEPC shares increased 10% after it won an order worth ₹442 crore from the Water Resources Department Delhi.

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Here are a couple of stock recommendations by Vinay Rajani, Senior Technical & Derivative Analyst, HDFC Securities:

Buy Infosys for a target price of ₹1,595 with a stop loss of ₹1,520

Buy CDSL for a target price of ₹1,650 with a stop loss of ₹1,585

G Shivakumar, GE Shipping On CNBC-TV18:

Asset Prices Are Higher Than Comfort Levels

Focussing On Maintaining Capacity, Not Adding Capacity

Older Vessels Require Higher Maintenance Capex

Net Outflow From The Vessel Acquisition & Sale Transaction Is $60-70 m

Company Currently Has Around $800 m In Cash

Crude Tanker Rates Have Gone Up Significantly In The Last Couple Of Weeks

Dry Bulk Has Seen A Strong Mkt, Led By Front-loading Of Grain Imports By China

US FDA classifies Kothur Pharma division as Voluntary Action Indicated (VAI), Issues EIR: Natco Pharma says

Alert: EIR indicates closure of inspection.

Nifty 50 has rallied nearly 1,000 points in 14 sessions.

Shares of Poonawalla Fincorp jumped up to 10% to a record high after promoters completed a ₹1,500 crore fund infusion, boosting their stake in the company. here

Wipro, Tech Mahindra, Sun Pharma, and Infosys are among the top volume movers at this hour of trading.

The US Federal Reserve’s “dot plot,” released quarterly in the Summary of Economic Projections, shows policymakers’ expectations for future interest rates and is closely followed by global markets. here

Dreamfolks extends losses, down 5% today as well, after the services of domestic airport lounges have been discontinued.

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