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IndiaMart: Talking to ETRetail, Agarwal shared that while the overall subscriber addition has been lower than the company’s anticipation of about 8,000; the e-tailer saw a total of 5,000 new paid subscribers.
HDFC Securities is bullish on IndiaMART InterMESH has recommended buy rating on the stock with a target price of Rs 3370 in its research report dated July 21, 2023.
AU Small Finance Bank has witnessed the breakout of a triangle formation with strong volume. It has formed a base at around Rs 550. The struture of the counter looks lucrative, as it is trading above all its important moving averages.
On the daily chart, a consolidation breakout is visible, which suggests an increased bullish bet. Besides, EID Parry (India) has moved above the 50-DMA on the daily chart.
Eights stocks namely Va Tech Wabag, Just Dial, Archean Chemical Industries, Nazara Technologies, Venus Pipes & Tubes, The Phoenix Mills, Thermax and IndiaMart InterMesh have seen fresh interest from the various brokerage firms.
Indiamart Intermesh has indirectly, through its wholly owned subsidiary, Tradezeal Online Private, agreed to acquire 26% of the share capital of Shipway Technology on fully converted and diluted basis. The company, through its wholly owned subsidiary, has agreed to acquire 100 equity shares and 4,088 Convertible Preference Shares (CCPS). Shipway Technology is engaged in the business of developing SaaS based solutions which allow small businesses to automate their shipping operations. Indiamart Intermesh has also agreed to acquire 3.02% of the share capital of Truckhall on fully diluted basis in addition to 22% of the share capital (on fully diluted basis) already held by the company.