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From the Sensex pack, NTPC, Tata Steel, JSW Steel, and L&T were the top gainers, rising 1-2%. Tata Motors, Sun Pharma, and SBI also rose in early trade. On the flip side, Asia Paints, Tech Mahindra, Infosys, Wipro, and IndusInd Bank declined.
Uno Minda, an auto components maker, has approved increasing its stake in joint venture firm Minda Westport Technologies Ltd (MWTL) to 76%. The company plans to acquire an additional 26% stake from its joint venture partner, Westport Fuel Systems Italia. The purchase consideration for the stake is around Rs 15 crore.
The company's board has approved increasing stake in Minda Westport Technologies Ltd (MWTL) from 50 to 76 per cent by acquiring an additional 26 per cent stake from its joint venture partner Westport Fuel Systems Italia, Uno Minda said in a statement.
"We see recent softness driven by higher oil prices as an opportunity to raise exposure," said Nomura's analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm's Asia strategy note to clients. "While this weakness may persist in the near term, thus presenting even better timing, we think the window of opportunity might not be open for too long."
Foreign institutional investors (FII) sold shares worth Rs 354.35 crore, while domestic institutional investors (DII) bought Rs 386.28 crore worth of stocks on September 27, provisional data from the National Stock Exchange (NSE) showed.