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Tega Industries, Vedanta, PSU Banks, and Cadila Healthcare among stocks in focus today

Chartists believe that the short term trend of Nifty continues to be range-bound with support near 17400-17380. 

Stocks to wat out for today. (Image: REUTERS)
Nifty has emerged from its lows but is still far from its all-time highs. “Nifty showing range movement at the important hurdle of 17550-17600 levels could be a positive indication for the bulls to make a comeback. Hence, this consolidation movement at the important resistance could eventually result in an upside breakout of the resistance in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. He added that the short term trend of Nifty continues to be range-bound with support near 17400-17380. 

Tega Industries: Shares of Tega Industries will list on the stock exchanges today. The IPO had seen a strong response from investors earlier this month. The Rs 619 crore issue was subscribed 219 times with all investor categories oversubscribing their portion of the issue. 

Vedanta: Anil Agarwal-led Vedanta on Saturday announced that the Board of Directors of the Company have approved a second interim dividend of Rs 13.50 per equity share, 1350% on face value of Re 1 per share for the Financial Year 2021-22. This will cost the company a total of Rs 5,019 crores.

Antony Waste Handling Cell: The company informed the stock exchanges that AG Enviro Infra Projects Private Limited, a material subsidiary of Antony Waste, has received letter of intent for contract namely ‘Door to Door Collection and Transportation of Municipal Solid Waste to Disposal Site and Operation and Maintenance of Equipment/Machineries’ from City – Sadar Paharganj Zone of North Delhi Municipal Corporation.

PSU Bank stocks: The government is unlikely to infuse any capital into state-run banks during the upcoming budget session, news agency PTI reported. During the current financial year, the government has earmarked Rs 20,000 crore for the recapitalisation of PSBs.

Gati: The company is looking to become a Rs 3,000-crore company in three years, driven by key accounts, micro, small and medium enterprises (MSMEs) and business-to-business (B2B) retail. Gati’s Chief Executive Officer Pirojshaw Sarkari said that the company has identified three areas, including talent acquisition and building infrastructure, to achieve the target.

Cadila Healthcare: Zydus Cadila’s US subsidiary Zydus Pharmaceuticals Inc. has received tentative approval from the USFDA to market Cariprazine Capsules. The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad. 

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