“DRL’s two strategic priorities include strengthening presence in the south and west organically and technological interventions to look more patient friendly in the front end. â€
The stock quoted a 52-week high price of Rs 98575.9 and a 52-week low of Rs 62866.55.
JM Financial sees the stock at Rs 950. Emkay finds it worth Rs 1,020 now compared with Rs 960 earlier.
On the technical charts, the 200-day moving average of the stock stood at Rs 1111.71.
A total of 884,001 shares changed hands on the counter till 01:47PM (IST).
The stock quoted a 52-week high price of Rs 32050.0 and a 52-week low of Rs 20103.1.
The board approved raising up to Rs 5,347 crore by issuing 252.45 million equity shares through the preferential issue on a private placement basis. However, the issue price for the preferential allotment is Rs 211.79 per share, a 28 per cent discount to Tuesday’s closing price of Rs 294.40 on the BSE.
“India is about to enjoy that same wonderful golden period of new economy growth that China had for the last 10 years. Unfortunately most of it will remain unlisted. But nevertheless, the indirect effects on the economy will be just as beneficial.â€
The outlook for the hotels division, demand and price trends in the cigarette segment and performance of the agri and packaging divisions will be keenly watched.
A total of 5,901,009 shares changed hands on the counter till 12:34PM (IST)
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