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  1. ICICI Securities, BHEL, Infosys, Welspun Corp, Biocon to remain in focus in today’s trade

ICICI Securities, BHEL, Infosys, Welspun Corp, Biocon to remain in focus in today’s trade

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2 min read • Updated: March 28, 2024, 10:11 AM

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Indian markets open positive with 0.3% gains on NIFTY and Sensex, which is in line with the positive trends shown by global markets. The Asian market is trading positively except for Japan (-1%). The indices in China, Hong Kong and South Korea were trading in green. All the major benchmark indices in the US closed higher in the range of 0.5% to 1.2% on Wednesday.

All the sectoral indices were trading positively.

The NIFTY is trading at 22,215, up by 0.4% on Wednesday morning. The gains in the NIFTY are primarily led by banking, IT and index heavyweights names like ICICI Bank (+1%), HDFC Bank (+0.5%), Infosys (+1%), Reliance (+0.3%). At the same time, the Sensex has crossed the mark of 73,000 and is currently trading 316 points higher.

On the broader indices front, the NIFTY midcap 100 and smallcap 100 opened 0.6% higher. However, they pared some early gains to currently trade higher by 0.2% as against the previous day’s close.

All the sectoral indices were trading positively, except NIFTY Realty & Consumer durables. At the same time, NIFTY PSU Bank remained a top gainer with more than 1% gains in the opening session.

Stocks in Focus

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  • Welspun Corp wholly-owned subsidiary to invest ₹2,355 crore to set up manufacturing units in Telangana, Odisha, Madhya Pradesh and Jammu & Kashmir.
  • Bharat Heavy Electricals Limited (BHEL) has received an order from Adani Power Limited to set up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh.
  • Infosys and Handelsblatt Media Group announce strategic collaboration to make complex reports on global economic and finance issues more accessible and easily consumable for the public, leveraging generative AI.
  • Tata Elxsi and Dräger established an innovative partnership to drive critical care innovation in India.
  • Biocon received the UK Healthcare Department’s approval for diabetes drug Liraglutide, becoming the first generics company to obtain approval for a diabetes drug in the UK.
  • Reliance enters into a 20-year power purchase agreement with Adani Power arm with an investment of ₹50 crore.
  • ICICI Securities shareholders approve delisting shares and merging with the parent company, ICICI Bank.