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Brokerage house Equirus Securities sees a massive further upside in the stock. The stock has initiated coverage with a 'long' rating on the stock with a target price of ₹1,000, implying a 62 percent upside potential in the stock.
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These changes to the rules build on an earlier move to ease the issuing of mining leases and composite licences for 24 critical and strategic minerals, which are vital in key supply chains that include electric vehicle batteries, energy storage devices, and high-end motors.
The approval by the Union cabinet will enable the Centre to auction lithium, niobium and REE blocks for the first time in the country