Shares of Novartis India Limited extended their sharp rally on Thursday, climbing as much as 13 per cent to a fresh high of ₹2,474.90 on the BSE. The stock has surged approximately 51 per cent over the past three trading sessions.
Several stocks from the Nifty 500 index have slipped into technically oversold territory as Indian equities face heightened selling pressure amid escalating US-Iran tensions and Brent crude prices crossing the $100-per-barrel mark.
The exchange had initially sought a valuation of roughly $55 billion, but investor feedback during overseas roadshows in Hong Kong, London and New York has pushed the expected valuation down to around $47 billion.
Shares of Dilip Buildcon Limited rallied sharply on Thursday after the company announced that it had emerged as the successful bidder for an LPG pipeline project connecting Paradip in Odisha to Raipur in Chhattisgarh.
Vodafone Idea (VIL) could emerge as a high-beta turnaround opportunity in India’s telecom sector, according to global brokerage Jefferies, which has initiated coverage on the stock with a ‘Buy’ rating and a ₹20 price target.
Shares of Redington Limited surged nearly 6 per cent to a fresh record high in Thursday’s trading session after Apple unveiled its latest iPhone lineup, including the iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max.
The Indian rupee came under renewed pressure on Thursday, depreciating 25 paise to 95.33 against the US dollar in early trade as Brent crude prices moved above the psychologically important $100-per-barrel level.
US President Donald Trump has promised a $5,000 “dividend” for every adult US citizen if Republicans retain control of both chambers of Congress in the upcoming midterm elections.
Delhi is expected to experience another warm and partly cloudy day on Thursday, while the India Meteorological Department (IMD) has issued alerts for heavy to very heavy rainfall across Odisha and several other parts of the country.