Here are the top stories this afternoon:
Sensex, Nifty rally for third straight session: Factors propelling the markets higher
The market has posted some handsome gains in the early session today on the back of strong global cues. Among the sectors, auto, capital goods, FMCG, IT and power indices added a percent each, while the midcap and smallcap indices added half a percent each.
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Suzlon Energy stock gains on bagging order from Adani Green Energy
Shares of Suzlon Energy rose in the early trade on October 18 after the company said it has secured an order to develop 48.3 MW wind power project from Adani Green Energy. Suzlon Energy will install 23 units of their wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each.
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NHAI Infra InVIT NCD issue: should you invest?
The National Highways Authority of India Infrastructure Trust’s (NHAI InVIT) non-convertible debenture (NCD) issue, launched on October 17, was fully subscribed on the very first day. The company is likely to issue a 24-hour notice today and close the issue by October 19. This leaves a small window open for retail investors to invest, but you might at best get a partial allotment.
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These risky stocks gave multi-bagger returns since last Diwali
Investors have made fortunes betting on penny or low-value stocks since last Diwali despite the Indian markets having been volatile, tracking global equities amid expectations of rate hikes by global central banks to tackle inflation, geopolitical tensions and energy crisis in Europe.
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Why Indian tech giants fail to resolve the attrition bug
Despite speculations about a looming recession, all major IT firms, including TCS, Infosys, Wipro and HCL, reported voluntary attrition of around or over 20 percent. Voluntary attrition in the IT sector was largely driven by exit spillovers from Q1, the constant demand for tech talent in Global Capability Centres (GCCs), and the after-effects of the talent war, analysts say.
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After strong results, can Federal Bank re-rate further?
Federal Bank has rallied close to 25 percent in the past year, outperforming Nifty and Bank Nifty that clocked single-digit negative returns over this period. The guidance on further improvement in return on asset as well as interest margin despite firming up of interest rates is reassuring.
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