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#843 Daily Money Show | Money Purse Stock Market News
Takeaway
Wipro double upgrade plus order wins for Garden Reach Ship Builders and Cochin Shipyard from defense exports drove the day.
Summary
- Market: Sensex +443 to 79,476; Nifty +131 to 24,141; midcap +0.99%, smallcap +1.50%, bank nifty +0.44% — financials and IT drove the rally
- CLSA double-upgraded Wipro from Underperform to Outperform with Rs 607 target (stabilizing discretionary demand); Morgan Stanley expects better Q1 numbers from TCS, Infosys and Coforge
- Rane Holdings to acquire Japanese NSK Ltd's 51% stake in JV Rane NSK Steering Systems for ~Rs 45 cr — will become wholly-owned subsidiary; stock reacted positively
- Garden Reach Ship Builders won $21M order from Bangladesh Defense Ministry (24-month execution) for advanced ocean-going tug; Cochin Shipyard got Norway-based Wilson ASA contract for 8 dry cargo vessels worth Rs 1,100 cr — defense export push driving shipyard stocks
- Epigral (formerly Meghmani Finechem) commissioned 35,000 TPA CPVC plant in Dahej Gujarat; Roto Pumps launched solar pumping systems and artificial lift downhole pumps globally; IREDA Q1 sanctioned loans grew 382%, disbursements grew 67%
Wipro upgradedefense exportsEpigral
Original description
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