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Dipan Mehta advises caution and light trading ahead of the upcoming election dates. He emphasizes the importance of being in cash and watching the election results closely for investment decisions.
The raised funds will be used to reduce Inox Wind's debt and increase its working capital, thereby strengthening its balance sheet.
Sensex Today | Stock Market LIVE Updates: Power Grid Corp, Hindalco, Nestle, Eicher Motors and Sun Pharma are among the top gainers on the Nifty, while losers are HDFC Life, SBI Life Insurance, UltraTech Cement, Axis Bank and ICICI Bank.
Investec brokerage firm upheld its buy recommendation for Hindalco, while Nuvama initiated coverage on Inox Wind and Suzlon Energy with buy ratings, respectively. Goldman Sachs has given LIC a neutral rating following its Q4 results.
Nuvama, a domestic brokerage, initiated coverage on Inox Wind and Suzlon Energy with optimistic outlooks. It assigned a 'buy' rating and a target price of Rs 195 for Inox Wind, citing its position as one of the two key players in India's WTG and turnkey EPC market. Meanwhile, Suzlon Energy received a 'buy' rating with a target price of Rs 53, backed by its technological edge, high-margin services, and strong balance sheet.