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After adding over 450 points during the day, Sensex pared some gains to end 226.47 points or 0.41% higher at 55,555.79
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Shares of the Chemplast Sanmar are quoting at a premium of Rs 12 over its issue price of Rs 541 per share.
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Consolidation in markets was due after the long one way up-move; many stocks have gone up despite no fundamentals
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Satish Ramanathan, MD and CIO- Equity at JM Financial Asset Management, said there is a need to wait for the festive season to start.
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Investors should buy the dips & stay invested for the long term as Nuvoco Vistas is trading at a discount to its peers Ultratech Cement & Shree Cement
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ICICI Securities, Citigroup Global Markets India, Edelweiss Financial Services, and Kotak Mahindra Capital Company were the managers of the offer.
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Steel, pharmaceuticals and chemical sectors have been excluded from RoDTEP.
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On the sectoral front, IT and Pharma need should be on investors' radar which are seeing positive rotation
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Indian steel companies operate on the low end of the global cost curve, and stand to benefit from stronger domestic growth and higher exports
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On the BSE, Nuvoco Vistas opened for trading at Rs 471, at a discount of 17.37% or Rs 99 over its issue price of Rs 570 per share.