On the third day of the trading week i.e. today, the market got off to a strong start. Sensex opened at 56,067 points and Nifty opened at 16,654. Currently, Sensex is trading 150 points higher at 56,110 and Nifty is up 60 points at 16,690.
Out of 30 Sensex stocks, 20 stocks are being bought and 10 stocks are selling. In which the shares of Bajaj Finserv are trading with a gain of 1% and the shares of Tata Steel by about 1%. At the same time, the share of Tech Mahindra is down by about 1%.
2,089 shares are being traded on BSE. In which 1,524 shares are rising and 504 shares are trading in the red mark. With this, the total market cap of companies listed on BSE has crossed Rs 241.43 lakh crore. Earlier on Tuesday, the Sensex climbed 403 points to 55,959 and the Nifty rose 128 points to close at 16,625.
Earlier, the US stock market also closed sharply. The Dow Jones ended with a gain of 0.09% at 35,366. The Nasdaq gained 0.52% to end at 15,019 and the S&P 500 gained 0.15% to 4,486.
Pharmaceutical company Indoco Remedies is one of the top stocks by the domestic brokerage and research firm HDFC Securities with a two-quarter timing. Indoco Remedies has a presence in the domestic market, US and EU markets and emerging markets. The company is a brand in the domestic formulation business in the acute, chronic/sub-chronic segment.
The brokerage said that the pharma firm expects strong growth in the Indian business, led by opportunities arising out of the Covid portfolio and new launches in FY22. The company offers therapeutics in areas such as stomatology, respiratory, ophthalmology, gastro-intestinal, vitamins, women's health and anti-infection drugs.
HDFC Securities has given buy advice on the stock of this company. HDFC Securities said, "We think investors can buy the stock in band 457-462 and add further dips in band 413-419 for a base case target of ₹506 and a bull case target price of ₹540 in the next two quarters." can."
Indoco Remedies Ltd. is a fully integrated, research-oriented pharma company engaged in the manufacturing and marketing of Formulations (Finished Dose Forms) and Active Pharmaceutical Ingredients (APIs).
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