Media stocks were in the limelight after a flurry of shareholder activism brightened their prospects. Banks also saw buying but metals and FMCG names were under selling pressure.
The Nifty Realty index closed 0.42 per cent up at 422.05.
“Besides new tech, whether it is Zomato or Nykaa or Paytm and others, look at solar, EV infrastructure, green hydrogen. These are going to be businesses and sectors of the future, says Gautam Trivedi.
On the technical charts, the RSI of the stock stood at 64.31.
A total of 105,015 shares changed hands on the counter till 02:15PM (IST).
The current chairman of Tata Sons, Natarajan Chandrasekaran, is being considered for extension after his term ends in February, while heads of various Tata group firms, including Tata Steel Ltd., are being evaluated for the CEO position
Given the scope of premiumisation in product categories, cost-saving initiatives, focus on acquiring digital capabilities and the management commentary on double-digit growth in earnings, most brokerages said the stock could rise up to 20 per cent over the next 12 months.
China Evergrande Group plunged nearly 12% to its lowest in more than six years, after it warned of a risk of cross-default as real estate sales continued to plunge.
“Within the auto sector, I prefer two- wheelers - both Bajaj Auto and Hero.â€
The stock quoted a 52-week high price of Rs 140.55 and low of Rs 82.15.
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