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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.
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The company had entered into binding agreements with Cronus for acquisition of 51% ownership by subscribing to 95,059,963 equity shares
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Of 30 Sensex stocks, 28 were in the green at open. HCL Tech, Tata Steel, Bajaj Finance, Tech Mahindra and L&T were the top gainers.
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Nuvoco Vistas: Shares of Nuvoco Vistas Corporation will debut on the bourses today.