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Stock Cash Trading Tips- Sensex, Nifty open in green
The dollar inched up after minutes from the Federal Reserve's last meeting revived expectations for a possible US rate hike this year, while investors shifted their focus back to trade issues for fresh directional cues. The dollar index against a basket of six major currencies added 0.1 percent to 96.569. Read the forex market report here-
Stocks in focus today-
The board of Tech Mahindra will meet to consider a proposal to buy back fully paid-up equity shares of the company. Shareholders would be keen to know the offer size and price. Besides, promoters’ interest would also evoke keen interest. Another important factor would be the mode of purchase — through the open market or through tender route on a proportionate basis. If the latter is the mode of the buyback, then the record date would be crucial.
Shares of Dynamic Technologies may remain in focus, as the company has signed a memorandum of understanding with Russian Helicopters, a part of Russia’s Defence major Rostec Corporation, for Ka-226T helicopter. Under the agreement, the company will explore options for assembling some parts of Ka-226T helicopters, including fuselage. Investors and shareholders will closely monitor further developments and order flow from this deal.
Aarti industries, on Wednesday, said it has bagged a $125-million (₹900-crore) contract from a global firm to supply a high-value specialty chemical intermediate for 10 years. It estimates an investment of about $15 million to set up a commercial scale manufacturing facility (in Gujarat) for the intermediate product that is not part of the existing product range. The plant is expected to be commissioned in Q4 of FY21, with average annual revenue of $12.5 million.
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