Fri, Feb 2, 2024 10:02 AM
Paytm stock plunges 20% after downgrades by brokerages
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Jefferies adopts a cautiously optimistic stance on India's equity market, citing robust supply and strong domestic demand. Despite high supply, Jefferies recommends a cautious approach, favoring banks, two-wheelers, healthcare, and telecom. The firm raises its IT sector rating to neutral and downgrades consumer staples, citing shifting growth potential.
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Stock market today: The NSE-listed SME stock Troms Industries’ share price witnessed strong buying interest during early morning deals on Thursday. The SME stock opened with an upside gap at ₹235 apiece and touched an intraday high of ₹249 apiece on the NSE, logging an over 5 per cent intraday rise against the previous close of ₹233.90 per share.
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Usha Financial Services' IPO listed at a 2.4% discount on the NSE SME platform, opening at Rs 164 compared to the issue price of Rs 168, despite receiving a strong response with an overall subscription of 19.4 times. The company aims to use the proceeds to strengthen its capital base and support general corporate purposes.
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